keeping tabs on china
The World Is Scarred From China Shock 1.0. They're Not About To Let 2.0 Happen So Easily
The Lede
China's economy is undergoing a painful transition as Beijing tries to steer it out of a COVID slump and a real-estate debt crisis.
Key Details
- The administration of Xi Jinping is championing what it calls the "new three" industries of solar cells, electric vehicles, and lithium-ion batteries to drive its economy.
- China shock was a term coined in a 2016 paper about the country's economic rise and its impact on the world's trade and labor markets.
- China is targeting three new strategic industries that the rest of the world is also eyeing. This time, though, Western countries aren't letting Beijing get its way so easily.