An in-depth look at China's Economic Slowdown | Will Chinese economic downturn be like Japan's?

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For many of the younger folks, they don't remember that there was a time when many people thought that Japan was going to overtake the US as the world's largest economy. Japan's post-World War II rise was truly something to behold. They went from a nation in tatters to the world's number two economy within just a few short decades. This was known as the Japanese Economic Miracle. Around 1989 that all started to crumble, however, as deep-rooted problems within Japan's economy proved to be too much for them to overcome.
This is just a distant memory for most though, as for the past few decades we no longer hear about the threat of the Japanese economy, but we hear about the threat of the Chinese economy. The Chinese Economic Miracle is what they call it. Sound familiar? Up through the 1970's, China was a nation that was stuck in soul-crushing poverty. With the passing of Chairman Mao, however, things started to change. Deng Xiaoping because the new leader of China and he liberalized the economy and welcomed foreign investment. This was the start of China's rise.
And then to turbo-charge that rise, China was admitted into the World Trade Organization in 2001. This was an absolute game changer for China and for the world. The hope that the pre-existing member-states within the WTO had was that by welcoming China into the global economy, it would boost their economy, change their way of life, and they would start to loosen up and ultimately become a free country.
Here we are over two decades after the fact and things couldn't have proven to be more untrue.
China's economy, which not too long ago seemed like an unstoppable force and many rich and powerful around the world were betting on China's economy to overtake the US economy. Recently, however, things are starting to change. Whether it be the real estate bubble collapsing, the pandemic, youth unemployment, an ageing population, demographic decline, increasing isolation in the global community, deflation, etc - there are several challenges facing the Chinese economy now.
Some comparisons have been made between what challenges China is facing now to what Japan faced over three decades ago. In this video we will take an in-depth look at both countries and see if we can learn anything about where China might be headed based on what Japan already went through (and is still facing the repercussions of).

#chineseeconomy #economics #china #demographics #japan #taiwan #xijinping #marketcrash