Economist explains why China's growth miracle is failing

LEARN ECONOMICS

LIKE CHATTING ECON WITH ME?
△ I have a private Discord server for Senior and Chief economist Patrons / members.

SOURCES:
I've linked my sources in the blog that goes along with this video. Links are in the text.

Timestamps:
0:00 - introduction
2:55 - the economic miracle
18:56 - tuta
20:31 - why the miracle stopped working
26:20 - the future

Attribution:
- old pictures from Shenzen cc Leroy W. Jemery jr.
- pile of bikes from the South China Morning Paper YouTube channel

Narrated and produced by Dr. Joeri Schasfoort
Edited by Christopher Adewole
Previous title: China's Stagnating Economy: How a Rising Superpower Fell From Grace

[ahmed]

It is very refreshing to see content creators putting considerable effort to research and synthesize a lot of information in order to present something truly informative and insightful.

[sjoerdglaser]

I loved the balance between the up and downsides for the economic growth. Wages were low, and that greatly helped the economy, but the workers were screwed

[ananixon]

Fascinating stuff. I really appreciate how you broke down super complex topics without numbing them down. Truly making things simple but not too simple! Just discovered your channel today and I will follow it closely. One of the best YouTube finds in a long time. :)

[adrienbeauduin]

I really appreciate your videos, as I find you intellectually honest, always being clear about what you base your claims on and what the limits of your claims are. Too rare on YouTube...

[shannon.j]

Appreciate all the research you put into this, excellent deep dive into the topic. Thanks!

[paul]

This channel is so much better than other economics channels that don’t bother showing evidence for their explanations. (cough EE cough)

[P--B]

Great video! Really appreciate the whole story line from the late 70s to now. So much more balanced and underpinned than the other opinions out there. Having visited China this year I must say I saw a lot of service sector dynamism driven by the strong entrepreneurial culture and tech innovation. Do you have anymore data points to show how the government is constraining the service sector?

[rdchen]

Fantastic video, explaining in clear and understandable language why a country needs a thriving service sector and why the service sector must arrive at the last stage of development. The best part of the video is at 22:45, which explains the rationale for the stages of economic development.

[guenadimilanov]

Great way of presenting different views and scenarios! I very much enjoy the analysis. Thank you!

[atk]

Very good videos. Love the academic and journalistic integrity you put into these videos. Keep up the great work!

[IllIl]

Fascinating, man. Really valuable to have this kind of foundational knowledge at the back of one's mind while navigating the deluge of opinions about world events.

[leezhieng]

I need to point out the abandoned bicycles and car showing in your video is not "not bought by anyone", it's actually bought and owned by bicycle sharing and car/taxi hailing companies. These companies went bankrupt eventually, hence the cars were being abandoned, but it was not due to the cars "not bought by anyone". Chinese factories only manufacture the products when there are orders.

[Bmc]

Thanks you for explaining the situation in China. I would argue as well that Chinese would rather have low growth economy then go to a service based economy as they see a lot of social consequences of doing so, like in the USA unappealing.

[Jaesango]

Really well put together. Thanks for providing clarity on all this controversy on what’s happening in China

[nilayvyas]

Great in depth video. Love to see more of these.

[philipberthiaume]

By holding itself back, China was attempting to prevent the mantle of manufacturing powerhouse from going to nations that were next in line to assume that role, like Vietnam, Bangladesh, etc. Which would in turn make them more powerful.

[fedorku]

Watching this video from Shenzhen 😉 Very balanced storytelling, thank you for your analysis!

[kaisahfx]

they've been saying this for 20 years

[JasperGilley]

Excellent video, sums up a lot of research accessibly and concisely

[phylkoncent]

Fantastic. I now understand why all the three sectors; Agriculture, Manufacturing and Services should emanate progressively in that order and coexist, with the latter employing the majority of the people.

Domestic consumption is the key to sustainable development. It's also imperative to aim at sustainability way more than chasing infinite growth in a finite world.

Lastly, to boost employees incomes, it's necessary to upgrade to manufacturing of advanced goods whose prices aren't dependent on cost of production but on the value consumers derive by consuming them!

Great video as always. Kudos mkubwa.