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China’s economy is going through a phase

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HANGZHOU, ZHEJIANG - SEPTEMBER 25: A woman passes by the national flag made up of 100,000 carnations at Wuling Square September 25, 2007 in Hangzhou, China. China is preparing for its 58th National Day celebration on October 1 while the 17th Communist Party Congress in mid-October could lead to personnel changes in the top echelons of power and will set China's political and economic course for the next five years. (Photo by Feng Li/Getty Images)

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For years, China has been forecast to overtake the U.S. as top economic superpower. But recently, the world’s second-largest economy has been slowing under its zero-COVID policy. There’s also problems in its housing market, and its currency, the yuan, is falling.

So what gives?

“It’s going through a really turbulent period, and that’s from its own doing and for geopolitical reasons, in a nutshell,” said Jennifer Pak, Marketplace’s China correspondent.

On the show today, Pak joins us from Marketplace headquarters in Los Angeles and makes us smart about China’s standing in the global economy and whether it’s still on track to topple the U.S. from the top spot.

In the News Fix: Supply chain problems aren’t over, and neither is the pandemic (despite what you may have heard). Plus, Hurricane Fiona continues.

Then, are Make Me Smart listeners trolling the hosts? We’ll also hear about a potential solution to the beer shortage. Fizzless beer, anyone? We’re calling on all cicerones out there!

Here’s everything we talked about today:

Join us tomorrow for Whaddya Wanna Know Wednesday. Submit your question about money, business or the economy at makemesmart@marketplace.org or leave us a voice mail at 508-U-B-SMART.

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