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

But it is not coming down.

It isn't because there's no market pressure.

There's no market pressure because the float, the listed part of these companies is very small in China.

It's below 10% on average.

The shareholders cannot cause a correction or even a collapse of a company.

So you basically depend on top-down measures to stop that funding from the banks, and that's not happening.

And I think the main reason why that's not happening is the consequences on the labor market.

So the local governments don't want to see layoffs, and therefore...

They just keep these companies running.

If Churronchi were back to life, he would be very disappointed about a self-made problem, which, you know, didn't come from a fully planned economy.

But that's where we are.

And of course, it's very different.

But what I'm saying is that nobody has the guts, if you ask me, to cut the umbilical cord and say, you go, you go, you go, you go.

And by the way, and I finish here with adoption of AI and all of the worries that Chan has on the consequences on the labor market, on job displacement.

I can't see any of these anti-involution campaigns really going to the core of the problem because it's kind of not the right time.

Yeah.

You're not going to create additional unemployment when AI is being adopted across the board.

Yeah.

I guess, you know, local governments are given too many objectives to fulfill.

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