EPISODE · Sep 6, 2023 · 22 MIN
China's boom changed the world. Now, it faces a slump
from Front Burner
As Canada deals with high inflation and a housing shortage, the world’s second-largest economy is grappling with a nearly opposite reality. China has been booming for over 40 years as Beijing invested heavily to build up the country. But now, demand for housing is sinking amid overbuilding and developers mired in debt, and consumer prices have recently fallen into deflation. Today, Wall Street Journal China bureau chief Jonathan Cheng explains the signs that China’s economy is slowing down, and what it could mean for the boom that changed the world to come to an end. Looking for a transcript of the show? They’re available here daily: https://www.cbc.ca/radio/frontburner/transcripts
What this episode covers
As Canada deals with high inflation and a housing shortage, the world’s second-largest economy is grappling with a nearly opposite reality. China has been booming for over 40 years as Beijing invested heavily to build up the country. But now, demand for housing is sinking amid overbuilding and developers mired in debt, and consumer prices have recently fallen into deflation. Today, Wall Street Journal China bureau chief Jonathan Cheng explains the signs that China’s economy is slowing down, and what it could mean for the boom that changed the world to come to an end. Looking for a transcript of the show? They’re available here daily: https://www.cbc.ca/radio/frontburner/transcripts
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China's boom changed the world. Now, it faces a slump
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