China’s GDP growth has been unexpectedly strong this year. But paradoxically, tax revenue has been contracting.

That’s not supposed to happen:

• Tax revenue typically falls during a recession, but not when the economy is expanding by more than 5% annually.

In this podcast, Trivium Co-founder Andrew Polk and Dinny McMahon, Trivium’s Head of Markets Research, discuss the reasons behind China’s falling tax revenue, and why it matters – both in the short term and to Beijing’s longer-term economic aspirations.

• They then get into what Beijing is doing about it, and whether those efforts are likely to meaningfully boost badly needed tax receipts.