Lex Fridman Podcast
#477 – Keyu Jin: China’s Economy, Tariffs, Trade, Trump, Communism & Capitalism
13 Aug 2025
Keyu Jin is an economist specializing in China's economy, international macroeconomics, global trade imbalances, and financial policy. She is the author of The New China Playbook: Beyond Socialism and Capitalism. Thank you for listening ❤ Check out our sponsors: https://lexfridman.com/sponsors/ep477-sc See below for timestamps, transcript, and to give feedback, submit questions, contact Lex, etc. Transcript: https://lexfridman.com/keyu-jin-transcript CONTACT LEX: Feedback - give feedback to Lex: https://lexfridman.com/survey AMA - submit questions, videos or call-in: https://lexfridman.com/ama Hiring - join our team: https://lexfridman.com/hiring Other - other ways to get in touch: https://lexfridman.com/contact EPISODE LINKS: Keyu's X: https://x.com/KeyuJin Keyu's Website: https://keyujin.com/ The New China Playbook (Book): https://amzn.to/4lpgmyK SPONSORS: To support this podcast, check out our sponsors & get discounts: Allio Capital: AI-powered investment app that uses global macroeconomic trends. Go to https://alliocapital.com/ UPLIFT Desk: Standing desks and office ergonomics. Go to https://upliftdesk.com/lex Hampton: Community for high-growth founders and CEOs. Go to https://joinhampton.com/lex Lindy: No-code AI agent builder. Go to https://go.lindy.ai/lex LMNT: Zero-sugar electrolyte drink mix. Go to https://drinkLMNT.com/lex OUTLINE: (00:00) - Introduction (00:35) - Sponsors, Comments, and Reflections (08:26) - Misconceptions about China (12:57) - Education in China (22:14) - Economic reforms of Deng Xiaoping (27:33) - Mayor economy and GDP growth race (41:20) - Growing up in China (46:58) - First time in the US (51:12) - China's government vs business sector (54:46) - Communism and capitalism (58:25) - Jack Ma (1:04:37) - China's view on innovation and copying ideas (1:11:15) - DeepSeek moment (1:15:09) - CHIPS Act (1:16:56) - Tariffs and Trade (1:29:21) - Immigration (1:34:08) - Taiwan (1:39:54) - One-child policy (1:47:51) - China's economy collapse predictions (1:52:34) - Advice for visiting China PODCAST LINKS: - Podcast Website: https://lexfridman.com/podcast - Apple Podcasts: https://apple.co/2lwqZIr - Spotify: https://spoti.fi/2nEwCF8 - RSS: https://lexfridman.com/feed/podcast/ - Podcast Playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 - Clips Channel: https://www.youtube.com/lexclips
Full Episode
The following is a conversation with K. Yu Jin, an economist at the London School of Economics specializing in China's economy, international macroeconomics, global trade imbalances, and financial policy. She wrote the highly lauded book on China titled The New China Playbook, Beyond Socialism and Capitalism. that details China's economic transformation since 1978 to today.
And it dispels a lot of misconceptions about China's economy that people in the West have. And now a quick few second mention of each sponsor. Check them out in the description or at lexfriedman.com slash sponsors. It's the best way to support this podcast.
We got a Leo Capital for investment, Uplift Desk for amazing and functional desks, Hampton for connecting with founders, Lindy for AI agents, and Element for delicious electrolytes. Choose wisely, my friends. And now onto the full ad reads. They are all here in one place. I do really try to make them interesting, but if you skip, please still check out the sponsors. I enjoy their stuff.
Maybe you will too. To get in touch with me for whatever reason, go to lexfriedman.com contact. All right, let's go. This episode is brought to you by Alio Capital, an investment app designed by people who understand global markets and the macroeconomics of a world that is sadly increasingly becoming divided politically, socially, economically.
Alio is powered by Altitude AI, which identifies shifts in inflation, interest rates, and global risk, then adopts portfolios in real time. Obviously, some of these topics, the intricacies of global markets, is a topic we discuss in this very episode with Keio Jin. Anyway, I use Alio. It took me just a few minutes to set it up. It's designed for both hands-on and hands-off investors.
I am more hands-off. Download their app in the App Store, Google Play, or text LEX to 511511. That's a Leo, A-L-L-I-O, capital. Text LEX to 511511. Investing involves risks, including the potential loss of principal. Past performance does not guarantee results. See terms and conditions. Text fees may apply.
This episode is also brought to you by Uplift Desk, a company that brings a smile to my face. I'm sitting behind an Uplift Desk right now, and I have many of them in my place, have had for many years. Most of the podcasts you can see that are recorded in Austin, Texas over the past, let's see, what is it, four years, all of them are done on an Uplift Desk.
that sort of woody colored desk for both me and the guests. I love it. It's been a source of joy and somehow miraculously we have connected on another level and they, unrelated to any of this, wanted to also sponsor the podcast. It blows my mind. It makes me truly happy when a thing that already made me happy is also a thing that is supporting a podcast in another way.
They have all kinds of customizable desks. Just an incredibly insane combination of possible customizations of desks. It makes you more productive. It makes you more energetic. Go to UpliftDesk.com slash Lex and use code Lex to get four free accessories, free same-day shipping, free returns, a 15-year warranty, and an extra discount off your entire order.
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