Why China is Primed for Economic Carnage Worse than the US Financial Crisis of 2008

Published: Aug. 29, 2023, 7:31 a.m.

b"In episode 8 of ECON 102, Noah Smith and Erik Torenberg discuss the factors brewing up a major crisis for China\\u2019s economy, and what this means for the US and other international powers. If you\\u2019re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine\\n\\nWe're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.\\n--\\nSponsors: GIVEWELL | DAFFY | NETSUITE\\xa0\\nHave you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they\\u2019ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you\\u2019ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick \\u201cPodcast\\u201d and enter Econ 102 at checkout.\\xa0\\n\\nDaffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don\\u2019t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It\\u2019s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102\\xa0\\n\\nNetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you\\u2019re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.\\n--\\nEcon 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co\\n--\\nTIMESTAMPS:\\n(00:00) Episode Preview\\n(01:37) Noah\\u2019s observations from his trip to Japan\\n(03:03) Chinese Economic Carnage\\n(04:09) Who is affected?\\n(04:59) How will falling resource prices affect inflation?\\n(14:12) China\\u2019s upcoming recession\\n(16:41) China\\u2019s building investments need to stop\\n(20:12) China\\u2019s paradox of thrift\\n(20:57) China\\u2019s boomer republican leaders\\n(21:39) What can China\\u2019s growth look like from here?\\n(27:11) What are China\\u2019s options for allaying the unrest?\\n(28:44) Extend and Pretend\\n(29:26) Balaji was wrong about China as diplomatic power\\n(33:18) China owns a Sri Lankan city now\\n(34:04) When Noah was most bullish on China\\u2019s future: the Hu Jintao era\\n(36:33) Xi JinPing as Stalin; Steve Ballmer\\n(40:00) The revolution of rising expectations theory in American\\xa0\\n(44:52) Spelling out our biggest fears about China\\n(47:23) Successes in recent alliances: Japan and Korea alliances, India, Vietnam,\\n(51:00) What are we watching for next?\\n\\nThis show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture \\u2014 all from the perspective of industry insiders and experts. We\\u2019re launching new shows every week, and we\\u2019re looking for industry-leading sponsors \\u2014 if you think that might be you and your company, email us at erik@turpentine.co."