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 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

Consumer savings.

Consumer savings are around 80% of the savings.

So, you know, it's basically the bulk of it.

So this household savings...

Can't go anywhere else.

So they are deployed based on the government's objectives.

And that's because of financial repression on the policy side.

Financial repression, capital controls, and also financial repression in the domestic financial sector.

Because even there, I mean, the choices for investment are limited, as everybody knows.

Which to me, if I push the argument, by the way, explain why the Chinese government has not supported any return of the real estate policy.

Because the real estate sector was actually diverting part of those savings to an unproductive sector, which was the real estate.

Well, I think since the collapse of the real estate, all of the savings are going to bank accounts, wealth management products, all of them.

then direct it to industrial policy, the manufacturing sector, the new production forces, the technological upgrade.

So, you know, I think even that decision, to me, the three red lines, everything that suddenly stopped that massive bubble in the real estate sector is related to using those savings more product.

So I think this is the number one tool.

by the Chinese government.

And then the other one, if you talk about self-reliance, in any country in the world, self-reliance needs to be imposed upon.

I mean, meaning why would I use, I don't know, a Huawei phone as opposed to an iPhone?

Well, I think China's trick is this nationalism of consumption, which is increasingly pervasive.

By which, you know, the domestic products are preferred and they are preferred because they come with a signal in effect.

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