In mid-2024, Beijing rebranded its overcapacity problems as “involution.” Does it matter? As the bard would say, a rose by any other name…

And yet, over time it’s become clear that this was more than just a rebranding exercise. Along with the change in name came a subtle shift in how Beijing perceives its overcapacity problems – a shift that has important policy implications.

In this podcast, Trivium Co-founder Andrew Polk and Dinny McMahon, Head of Markets Research, talk all things involution. The gents discuss:

• How the concept of involution differs from that of overcapacity
• Why Beijing doesn’t think overcapacity can exist in a global free market
• What Beijing’s anti-involution efforts look like
• And what it all means for the rest of the world

Then, Andrew wraps things up with a brief rundown of the most recent developments in the US-China trade truce.