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

So that that's pa puzzling, right?

So this is um we see a lot of their policies that are targeted on the production side, right?

So I think to uh the reason for that is quite easy to understand because uh Beijing

They they plan to find new sectors to drive the economy to a high-income level, high-income country.

So they you know they believe uh China's current income level is already higher, uh has kind of outgrown the so-called old sectors.

So they need new sectors to bring the country to, let's say, to bypass the middle income track.

So that's why they do a lot of support on.

on the production side, on the you know, on EVs, on alternative energy, on critical material, on semiconductor, all these kinds of industries.

But then they have not really done much to support consumer side.

I think the reason why is probably because uh they are concerned about moral hazard.

So they don't want people to get used to being paid without being without doing anything, right?

Without working.

So uh, you know, it feels like the Chinese tiger mom, right?

So you know if you don't finish your homework, you don't you don't get to eat dinner.

So this kind of thing.

So I think that's

That's the reason why they have been kinda reluctant to support the consumer.

Uh, then they focus a lot more on the on the production side.

Yeah, absolutely.

So that's why I think at this moment if they face an insufficient uh domestic demand

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