The Evergrande Crisis and How Xi is Reshaping the Chinese Economy | Podcast In Brief
In this episode, we dig deeper into the crisis at Chinese real estate giant Evergrande and examine the reasons and fallout. The real estate developer’s debt problems grabbed headlines around the world and raised wider fears about the state of the Chinese real estate market, which is a key engine of growth for the world’s second-largest economy.
Will the Chinese authorities be able to contain the Evergrande crisis? Are there likely wider ramifications for the Chinese economy, as well as for countries, including India, which relies on China as its biggest trading partner with a continuing appetite-based trading relationship? from China for raw materials? What does the Evergrande crisis tell us, as well as the steps taken to resolve the debt problem, about Xi Jinping’s broader goals for the Chinese economy? We also discuss other important regulatory measures taken by Chinese authorities recently targeting the private sector, from investigations into the Alibaba Group and Tencent to the crackdown on the private education sector, to ask how Xi is reshaping the Chinese economy.
Guest: Dexter Roberts, Senior Researcher at the Asian Security Initiative of the Atlantic Council, author of “The Myth of Chinese Capitalism”
Host: Ananth Krishnan, China Correspondent, The Hindu
Hindu profiles, Evergrande | The “gray rhino” of the real estate boom in China