Why U.S. Economy Slowed While China Surged in Q1?

According to the latest data, the U.S. economy shrank at an annualized rate of 0.5% from January to March. Being the first contraction in three years, it’s raising fresh concerns regarding the strength of U.S. consumers, the impact of high interest rates, and the resilience of the broader economy. Meanwhile, on the other side of the Pacific Ocean, China posted a stronger-than-expected 5.4% GDP growth in the same period of time. The country’s economic engine appears to be strong and gaining momentum. What’s really driving this divergence? What are the main engines of the Chinese economy? What role do monetary policy, trade dynamics, and geopolitical shifts play in shaping this economic narrative? Host Zhao Yang spoke with Yan Liang, Professor of Economics, Willamette University; Dr. Zhou Mi, Senior Research Fellow with Chinese Academy of International Trade and Economic Cooperation; Andy Mok, senior research fellow at the Center for China and Globalization.