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

So why is China doing this?

Because ultimately the objective is that technological upgrade, that moving up the ladder, that technological hegemony.

So for any household, the future is quite clear.

It is going to be subservient to that objective.

So in that regard, I think the lack of the very negative sentiment of Chinese households is explained beyond the real estate.

It's them understanding that China's growth model is not for them.

It's for the sake of that hegemony, that technological hegemony.

And the companies just can't feed them back, as I said, with profits.

So that is why I think this is structural.

It's not a cyclical characteristic of the Chinese economy.

No, I don't see it that way, because for that second hypothesis to be true, you would need to see productivity at some point increasing massively so that you kind of bring back labor productivity.

So imagine if all of these massive upgrade were to revert into labor productivity, which then brings up wages, you could argue, well, eventually this is going to happen.

If you want, the resources are going to go back to the households, yeah, for the mere fact that they're becoming more productive.

And given that China's population is falling, who cares about temporary unemployment or youth unemployment?

Because eventually we will have the right population for our level of development.

But the reason why I don't see that happening is that

First, the level of adoption, whether it's automation or AI, is much faster than the rest of the world.

It's very, very fast.

And to the point that even with a falling labor force, China is actually creating a labor force problem, an unemployment problem beyond youth unemployment at the current juncture.

So I don't see how China is going to be able to grow more

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