Alicia García‑Herrero

speaker

388 appearances 1 recordings 1 series first heard Aug 2026 last heard 6 Aug

Alicia García‑Herrero’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Aug 2026 with 1.

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Pekingology · Inside China's Dual Economy · 6 Aug 2026 podcast

So the benefit of mitigating structural deceleration comes with a large, in my view, social cost, which feeds China's fiscal deficit.

So, you know, it is positive on growth, but it's very challenging on its fiscal situation.

I think that's the way forward for China.

I think China is going to have every company KPIs, keep your workers.

But the companies, again, as I was mentioning, will need to make tough choices on the actual wages or income offered to those workers.

So it's one thing whether you're going to retain a worker, but are you going to pay them a living wage?

Correct.

I think that China will have very low productivity workers.

I mean, some will be very productive, again, AI-augmented workers, but there will be very few.

And then you will have not basic income from the government, but company-led basic income workers.

where the salaries will be very low, but that will massively distort China's kind of social contract.

So that is a big challenge for China in my view, stemming from not only AI adoption, but the decision to put the burden on the companies rather than on the state because of that court decision and beyond.

I think that's China's direction towards the labor consequences of AI.

In my humble opinion, Xi Jinping has already taken that decision.

And the first objective, sorry to say, competing with the U.S., comes first.

This is very clear from every speech, latest speech on AI.

I mean, it's very, very clear that he firmly believes that the second objective can wait, that the gains will come.

Some, as you were arguing before, believe that it will come through higher wages because, you know, labor productivity.

I'm not on that camp, but it doesn't matter.

It may come because of dominance.

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