The Chinese government claims low inflation, but people in the financial hub of Shanghai complain that the cost of living is rising much faster. Last available figures put the average monthly wage in the city at 7,200 yuan or $1,047. Today, we look at what it’s like to live on that. Plus: the Fed and business leaders are puzzled by the economy, but consumers don’t seem to mind.

The cost of living (in Shanghai)

Every weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.

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Expand, slow down, contract and recover. Businesses tend to make decisions based on what stage of the business cycle the economy’s in. The problem is, that doesn’t work so well anymore. We’ll get into it. Also: The hot U.S. dollar causes trouble overseas, college grad unemployment is up, and what other food programs can learn from WIC.

The business cycle is getting less cyclical

Many states are making it easier for homeowners to subdivide their single-family lots. But those with space to spare may not know how to develop it. Now, new companies are offering cash for the land. Also: Profits are up, but probably not because of “greedflation,” and federal grants aim to get solar panels on low-income families’ roofs.

A new spin on the yard sale

Thanks to a strong stock market and record home prices, asset owners are feeling richer, even if it’s only on paper. Today, we get into the “wealth effect” and how it may play out in the presidential election. Also: Higher prices slow Procter & Gamble sales, the “catastrophic” halt to a Baltimore port business, and why companies change the metrics they report to investors.

It’s a good time to be an asset owner

In the 1990s, companies that hoped to change the world using newfangled computer technology took off. Wall Street invested in some of them big time, and their stock market valuations ballooned before they showed evidence of delivering on their promises. Sound familiar? In this episode, a cautionary tale for the era of AI. Plus, film jobs leave L.A. and New York, Netflix doubles down on video game investments and small businesses’ pricing power is kinda lumpy.

Will AI be the dot-com bubble all over again?

Today, President Joe Biden called for tariffs to be tripled on certain Chinese steel and aluminum products. These tariffs, first implemented by then-President Donald Trump in 2018, are now the latest move in the ongoing U.S.-China trade war. Plus, sky-high car insurance premiums, the government’s latest energy-efficiency standards and China’s shrinking wine market. 

The cost of living (in Shanghai)

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