keeping tabs on china
The World Is Scarred From China Shock 1.0. They're Not About To Let 2.0 Happen So Easily
China is pivoting to new economic drivers in the strategic industries of EVs, solar, and lithium batteries. This would impact economies globally.
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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.