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Transcript: Tom Orlik on the Troubled Chinese Economy

Is it really worse this time?

Motorists wait at a traffic signal light in Beijing, China, on Tuesday, Aug. 30, 2022. 

Motorists wait at a traffic signal light in Beijing, China, on Tuesday, Aug. 30, 2022. 

Source: Andrea Verdelli/Bloomberg

The Chinese economy is undergoing a compounding series of crises. There has been a wave of homebuyers refusing to make their mortgage payments over delays in housing construction. The country is facing searing heat and drought. And of course, Covid zero continues to be a source of major strain. So how bad is it? And is it worse than downturns of the past? On this episode, we speak with Tom Orlik, the Chief Economist at Bloomberg Economics, and the author of China: The Bubble That Never Pops, about the situation right now. This transcript has been lightly edited for clarity.

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