a very warm welcome to talking business weekly with me, aaron hazelhurst. let s go take a look at what s on the show. the big china challenge. a year since the covid 19lockdowns. as the biggest economy back to full health. ongoing trade tensions with the us are some of the problems government is trying to tackle. this leading china economist will explain how the government needs to balance ambitions of the changing demand of a radically different younger generation if it wants the country to thrive. plus this former head of the international monetary fund china division tells me how beijing struggles are affecting all of us around the world. and keeping the internet free and fair. the big boss of web browser firefox tells me how her foundation is trying to compete with the deep pocketed rivals like google and apple and still have an influence. wherever you arejoining me from around the world warm welcome. china, s second biggest economy a trouser united states and is more th
around the world and keeping the internet free and fair. the big boss of web browser, firefox, tells me how herfoundation is trying to compete with the deep pocketed rivals like google and apple and still have an influence. wherever you rejoining me from around the world. once again, a big hello and a warm welcome to the show. china it s the world s second biggest economy. it trails only the united states and is more than four times the size of the next on the list, japan. so what happens there certainly matters. but a year since the government abandoned coronavirus lockdowns, it s an economy that s still struggling. the challenges for president xi jinping s government include vast debts in the property market and local government, soaring youth unemployment, an ageing workforce and ongoing trade tensions with the united states. his government set a target of around 5% for economic growth this year. it was the lowest in decades, and some say that was deliberate, but it will
the professor of global trade of the international funds. a real pleasure having you on the show and it does seem pretty clear that china s economy isn t exactly firing on all cylinders. how big of a problem is that the rest of the world? the second largest economy in the world and since the global financial crisis of 2008, china has been the main driver of growth, adding even more to the global demand than even the united states, so when the second largest economy slows down, the demand for commodities is weak and people are holding back on consuming and this means overall global demand is much weaker than it would otherwise be. the economic relationship between china and the united states has been defined by these tariffs and other trade restrictions.
but whatever choices it makes, there will be considerable consequences for the rest of the world. something i ve been discussing with a cornell university professor of global trade who used to head up the international monetary fund s china division. eswar prasad, a real pleasure having you on the show. and let me start with this, because it does seem pretty clear that china s economy isn t exactly firing on all cylinders. so how big of a problem, ishwar is that for well, for the rest of the world? china is the second largest economy in the world. and in the period since the global financial crisis of 2008, china has been the main driver of global growth, adding even more to global gdp and global demand than even the united states. so when the second largest economy in the world slows down, it means that demand for commodities is relatively weak and chinese consumers are holding back on consuming. so this means that overall global demand is much weaker than it would otherwise be. the e