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 that helps a lot because a lot of the reduction in imports, which explain the massive trade surplus, is really a nationalistic approach to consumption.

Whether it's services, you can think of cinema, boxes, brands.

You can think of many, many areas where China has managed to use this nationalistic approach to consumption for macroeconomic reasons.

So all of that, I think, is part of the way in which China can run this dual economy.

Yeah, I think it is a very interesting question.

So basically, why, if you really believe in self-reliance, you become so reliant on exports, in a sense.

And I think, well, first, there are not many other options, yeah?

I mean, it's either your own consumption or that of the rest of the world.

And if you know that you are putting all of your resources on producing goods and upgrading R&D, you don't have enough resources for the rest.

But I think the other reason is that China actually exports with another type of intent.

All of this is about intent, which is creating strategic dependencies.

Chinese share of global exports is around 15 to 18 percent, 15 percent, I believe, of global exports.

So China doesn't export 15% of everything, obviously.

China does export 90% of global solar panels.

Try to diversify away from that.

It's impossible.

Or China has 90% of refined rare earths or APIs, you name it.

So China actually tries to get to a level of control of that supply chain, whatever that might be, silicon wafers, 90%.

where you can no longer produce whatever needs to be produced with silicone wafers.

So that means that you're not so dependent because the other side cannot walk away.

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