China’s economic problems are growing: a real estate sector that’s going bankrupt, too many unemployed young workers and, remarkably, people saving too much. And, as the Nobel Prize-winning economist and Opinion columnist Paul Krugman argues in this audio essay, the Chinese government’s reluctance to encourage spending could make things worse.
How did one of the world’s largest economies get here? And what’s next?
(A full transcript of this audio essay will be available midday on the Times website.)
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This Opinion Short was produced by Sophia Alvarez Boyd. It was edited by Kaari Pitkin. Mixing by Pat McCusker. Original music by Carole Sabouraud and Pat McCusker. Fact-checking by Mary Marge Locker and Kate Sinclair. Special thanks to Kristina Samulewski, Shannon Busta and Annie-Rose Strasser.