Yan Wang

speaker

275 appearances 1 recordings 1 series first heard Sep 2024 last heard Sep 2024

Yan Wang’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: China’s Missed Opportunity · 6 Sep 2024 podcast

um local uh government officials.

So then basically you have both engines now are slowing down.

So private enterprises are, you know, confidence has been weakened and and now local officials are not really, you know, working as hard as before.

So I think that's why we are having this problem that precisely uh as you described.

Well I think the decoupling uh I I don't think

China and the rest of the world can completely decouple simply because you know China, for example, Chinese uh industry production uh is bigger than US, Germany, and Japan, Japan combined.

You know, Chinese manufacturing business is is the largest in the world, number one.

Number two, US and Japan, Germany.

So China is bigger than the the second, third, and fourth countries combined.

So it just tells us how important China really is in this kind of global supply chain.

So I don't really see it's feasible to completely isolate China from global supply chain.

So from that, I again I think the company will be kind of limited and will be very gradual.

But then this kind of geopolitical uh confrontation, this kind of almost ideological uh confrontation between these two camps, that to me I think that's more worrying.

In terms of the R, the Chinese Yuan, like there is the pressure to decouple, right?

So that's why China is using uh the RMB more and more for its international payment.

So if you look at uh international settlement, uh the RB is playing a much bigger role in at least in China's uh international settlement.

So I I I believe uh the

uh global uh usage of the RB will increase.

Uh it will become an important reserve currency, but uh I doubt it can uh reach the status of the euro or or the or or at least of course the dollar anytime soon.

I think it will will be a very long process.

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