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:
- “China’s Economy Won’t Overtake the U.S., Some Now Predict” from The Wall Street Journal
- Marketplace’s Jennifer Pak is a must-follow on IG and Twitter.
- “Ford Selloff Deepens After Warning of $1 Billion in Extra Costs” from Bloomberg
- “Hurricane Fiona slams Dominican Republic, Puerto Rico; three dead” from Reuters
- “What’s Driving Greg Abbott’s Escalating Migrant Busing Scheme?” from Texas Monthly
- “Texas Sheriff Launches Investigation Into Migrant Flights to Martha’s Vineyard” from NBC Dallas-Fort Worth
- “The United States of Cussing: Every U.S. State’s Favorite Swear Word” from WordTips
Join us tomorrow for Whaddya Wanna Know Wednesday. Submit your question about money, business or the economy at firstname.lastname@example.org or leave us a voice mail at 508-U-B-SMART.