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

There's nowhere to go.

So I think that's the trick, that China intentionally creates strategic dependencies.

And frankly, I would do the same if I were them, because if I'm so dependent on the export market, I'd rather dominate the key sectors where I am actually making the revenues so that nobody can walk away.

I think that's China's attempt to reduce that risk of over-dependence on exports.

Yeah, it's a great question.

So if you're not making money, why do you do that?

Wouldn't you rather make money?

You have a local government behind, you're the local champion, and your objective is to increase market share because that would eventually save you.

Think about the anti-involution campaign, this idea that this whole problem of having companies selling at a loss needs to be stopped.

Which companies are going to disappear?

The smaller companies.

Are they going to look at their company's profitability?

I doubt.

They're going to allow bigger companies to absorb smaller companies.

That's the way it's going.

So your incentive is to become bigger, not more profitable, but bigger.

What do you do then?

You slash prices.

Especially if the banks behind...

you extend their loans because basically these banks belong to local governments, if not central, but mostly local governments, they're going to tell them, feed my local champion because we want this champion to resist this anti-involutionary environment.

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