Professor Jiang Xueqin

speaker
559 appearances 1 recordings 1 series first heard Mar 2026 last heard 20 Mar

Professor Jiang Xueqin’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 Mar 2026 with 1.

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We're talking about a long-term change to the global economy.
And I think that China will actually be the least resilient and the least ready to adapt to this new reality, because for the past 30, 40 years, China has gotten very wealthy because of the global economy, where it imports cheap energy and exports manufactured goods.
And the entire Chinese economy is currently based on this model.
Now, for the past 20 years,
China has been moving towards a consumer-based economy and more of an innovation-based economy, AI.
But unfortunately, AI itself is dependent on cheap energy.
And Chinese consumers are refusing to spend money for a variety of reasons, primarily because they are not that optimistic about China's growth in the future.
So Chinese household savings is about 4%.
And unless the government is able to get Chinese to spend more money, then it will be very hard for the Chinese economy to move towards a consumer based economy.
So all Southeast Asia will be impacted and I think China will be impacted the most in the long term.
Maybe not in the short term because China still has access to Iranian oil.
Scott Besson announced today that they will lift sanctions on Iranian oil in order to make sure the global economy is not too impacted by this war.
In the long term, the Chinese economy, it is now much too focused on export and manufacturing in order to shift to a much more diversified economy.
Yeah, and I would say, look, the East is going to be much more impacted than the West because at the end of the day, the Western Hemisphere, America, I mean, the wealth in the Western Hemisphere is just tremendous.
I mean, the Western Hemisphere is self-sufficient, but that's not true for Southeast Asia.
Southeast Asia is very dependent on energy from overseas.
Right.
So with this war in Ukraine and with this war in the GCC, experts are saying that in the worst case scenario, you could have famine in Africa because so much of food and energy sustains the African economy.
And so, yeah.
Right, so unfortunately, the biggest loser of this war, regardless of how it turns out, okay?
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