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

or Europe for that matter.

So if you think about it, yeah, it's like China is growing so much more than anybody else, but its wages are growing so much less than anybody else, any developed economy, even China.

You would say, why aren't people just jumping off the table and complaining?

Because prices, the consumer price index is growing at 1% as well.

And if you think about even last year, even less than that, so there was hardly any inflation, zero.

So it's like an engineering argument.

OK, you know what?

Wages are not growing, so I'm lowering prices.

But of course, if you lower prices, companies earn less money.

Yeah, because the revenue isn't there, so they can't pay the wages anymore.

So it's a vicious circle.

But I think the response of the government is do not allow for prices to increase.

You can see that very clearly now with the Iran shock.

Because for the first time, producer prices upstream.

Yeah.

So they are very upstream sectors.

Cement, all of these things depend on energy costs.

So those prices finally went up from negative territory, minus three to over two and a half percent.

So big.

But that increase in prices is not percolating into consumer goods.

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