The Second China Shock

Beijing is faced with an over-capacity problem in key industries such as electric vehicles, batteries and legacy chips that threaten to risk the stability of the global economy. The panel will discuss how serious the economic threat is for the US and what can be done to address it.
This discussion included Yasheng Huang, Epoch Foundation Professorship of Global Economics and Management at MIT Sloan School of Management and Edoardo Campanella, senior global economist at UniCredit Bank and M-RCBG research fellow. It was held on Wednesday, October 18, 2024.
Click here for more information about Prof. Huang's recent book, "The Rise and Fall of the East: How Exams, Autocracy, Stability, and Technology Brought China Success, and Why They Might Lead to Its Decline": www.amazon.com...

[@user-bt3iz7vi7q]

China rise does not happen over night, it went through decades of hard work through many failures, lessons learn, sacrifices and humiliations. For example, a famous Elon Musk video on humiliating BYD cars roughly 10 years ago, is he laughing now?

[@oceanwave4502]

This shows that western countries have been sleeping in the last 20 years (during China's rapid development). What kind of political model is it, that led to this sleepiness? (maybe constant distraction?)

[@catinbootsnow4267]

Just a kind reminder: The global South constitutes 88% of the global population, where China has better geopolitical relations than before.

[@catinbootsnow4267]

Professor Huang needs to change his mindset that the US, Europe, Japan and S. Korea still dominate the world, and China has to back down to make the global North led by the US hegemon happy in order to develop. Welcome to the new multi-polar world where the US can not do whatever it wants.

[@sunnytneoh3126]

Many of these pundits got to change their names to Gordon

[@KayyHong]

There are many Gordon Changs in the world especially in the WEST, they keep selling a false narrative about China.

[@slumerville]

If a weather man consistently gets predictions wrong day after day, he will be out of a job. An economist who consistently get it wrong for decades can see career advancement.

[@wenling3487]

😂exactly. Huang Yasheng’s and Fukuyama’s work were considered to be major contributions that boost US arrogance and buy the time for Chinese fast development in the last decades. Without US arrogance and negligence on Chinese development, even with Osama Bin Laden’s distraction of US attention, China wouldn’t stand a chance to be like today. As a Chinese netizen, although I feel disgusting about Huang Yashen personally, I would thank his job to mislead US ruling elites to ignore China for a long time. BTW, I graduated from US university.

[@生张-r7z]

@@wenling3487 真正有能力的人，现在要么已经回国了，要么在美国混的风生水起，像这种靠到处卖嘴，还经常上大纪元的人能有什么真才实学。

[@kreasifaunaindah2229]

When a bully hit you,you should not dogde and should let the bully hit as he wish,if you dogde or defence yourself,you are agressive and you are wrong. This is the logic of the bully. In order to be trusted,you must be subservient and just follow the wish of the bully,otherwise you are blame to be untrustworthy. When one country can flood the world with the over capacity of printed money,another can not export their high quality,good price,high demanded goods. The world need the good quality,good price EV,so there is no such things as overcapacity. In fact it is undercapacity,bcs the demand is indeed very great for china's high quality EV. Don't blame china for your own fault. The speaker are bias toward china.

[@生张-r7z]

我估计提出来中国产能过剩的就是这个姓黄的教授，他的发言基本上和耶伦在中国时说的一模一样，真应了那句，越是中国人就越黑中国，中华民族一百多年的屈辱史，造就了某些人的奴性是根深蒂固的。

[@BureaucracyWorld]

Don't blame it on China, but yourselves. You knew China would come out ahead of the West, since 2013, when they started the BRI. Now the West just lost Africa and LatinAmerica markets. They is no such thing as overcapacity, when these 2 new markets need all Chinese products they can produce.

[@zuohengZhang]

那位黑发的讲师……基本是在摸象

[@chopinmack5418]

China is faced with an over-capacity problem if selling to G7 countries only ( w/ 12% of the world population only ) . China is faced with an under-capacity problem if China has to supply to all the Global South countries also .

[@willengel2458]

BYD is setting up factory in Brazil, Thailand, and else where in Europe. Yellen the respected academic turned herself into a contortionist.

[@KayyHong]

Exactly right.

[@patbyrneme007]

Oh dear, the factual hasis of this discussion is so low. 90% of the electric vehicles being produced in China are being bought by Chinese consumers with only 10% being exported. Similarly, the majority of solar panels being produced in China are being used in China which is why the share of renewables is growing so fast.

[@slly4276]

When I hear that the prof. Is from Epoch time, I made my exit from this programme

[@adnausi]

Epoch Foundation... a fund... not epoch times... why are there so many butt hurt Chinese nationalists?

[@pgtan9708]

China is growing by leaps and bounds. It has some of the best technologies in the World. Per Capita is not a relevant comparison at this time but what the professor should be aware is that the middle class is growing and equal or bigger in size than the US population. America itself is saddled with many gigantic problems n worse of all is having a huge national debt !

[@KayyHong]

And yet the U.S. keep fueling wars in Ukraine and Gaza

[@redcapitalist]

possibly the worst discussion i have ever heard. none of the points the guests brought up are remotely correct. china is leading the 2nd industrial revolution powered by the most advanced technology, supply chains and manufacturing systems - further augmented by cheap energy. this is why china is already the #1 economy in the world by far and set to dominate the 21st century.

[@生张-r7z]

哈哈！这是因为美国印钱的速度都赶不上中国制造的速度了，还想制造业回归美国，没有一点经济逻辑。

[@patbyrneme007]

In his reply to the question about whether China is playing the long game in building up its exports to the emerging markets, this American Chinese professor replied that such a strategy would be a long game indeed. In doing so, he shows his profound lack of knowledge of the subject. China now exports more to the developing world than it does to the US, Europe and Japan combined. This is not an accident but the direct result of its Belt and Road Initiative launched 11 years ago; its BRICS strategy and so on. Yes it was a 'long game' but China has already played it!

[@slchoong007]

Over-capacity my arse

[@ICEMAN_GT]

Epoch.. LOL bye

[@jimmylam1486]

your argument on geopolitics is flawed. You are seeing the world with bias.

[@spectrallim4802]

😂😂😂😂😂 epoch times.... really??

[@shiromaru8236]

Best let’s all share the world and help the needy like countries it’s people to share the best things we have. Hopefully my view will help a wake up call to peoples of the world for better life and share to everyone. Peace to the world.

[@jimn1023]

U.S. would only be happy when China behaves as Japan and Europe. Overcapacity is the compliant du jour of a declining hegemon. This whole discussion was focused on the layout of the silverware and nobody is talking about the menu itself.

[@randomdude7384]

Contrary to the intent of all the CCP-backed/paid trolls in the section, their "engagement" has only given this video a large boost.

[@CorneliusFrazier-g5z]

Henry Ford 😮 ?

[@FullChick-h4l]

Johnson Christopher Garcia Betty Jones Christopher

[@GPTeacherReis]

Higher quality electric vehicles than are produced in US and Europe??? 😂 get real. And yes, blame CH for overcapacity.