Host Wenchi Yu speaks with the UK-based macroeconomist, Kelvin Lam, a long-time China observer, about the current state of China’s economy. The conversation highlights several issues, including the challenges in the property sector, the country’s transition towards a high-tech economy, and the need to boost domestic consumption. The discussion also touches on the issue of inequality, the phenomenon of involution (over-competition within industries), and the future outlook for China's economic policies. Kelvin provides valuable insights as China prepares to unveil its 15th Five-Year Plan later in October.

00:00 Introduction to China's Economic Landscape

01:01 Kelvin Lam's Background and Expertise

01:56 Current State of China's Economy

07:28 The Role of the Property Market

10:26 Domestic Consumption and Economic Transition

11:34 High-Tech Manufacturing and Economic Growth

15:01 Unemployment and Labor Market Dynamics

16:14 Government Policies to Boost Consumption

19:11 Income Growth and Social Stability

22:00 China's Technological Advancements and Global Positioning

25:40 Overcapacity and Market Competition

30:52 Government Strategies for Industrial Consolidation

35:17 The Upcoming 15th Five-Year Plan

37:58 Conclusion and Future Outlook

Perspectives with Wenchi Yu

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