Listen: What China’s sweeping socialist reforms mean for the economy
China cracked down on the gaming industry this week, the latest in a series of policies aimed at strengthening the public sector and reining in private enterprise. But the reforms could bring short-term economic pain at a time when the country is already struggling with Covid, chip shortages and widespread flooding, as Iris Pang explains in this podcast
China this week banned under-18s from playing online video games for more than three hours a week as part of an ongoing effort to reassert China's socialist aims.
Regulators have targeted Big Tech, private education, private equity, real estate developers and other industries this year, wiping out billions of dollars in market value at listed Chinese firms, and raising fears of job losses at a time when the country is struggling with a new Covid outbreak, travel restrictions, port closures, chip shortages and widespread flooding.
In this podcast, Senior Editor Rebecca Byrne asks Greater China Economist Iris Pang what the reforms could mean for China's growth prospects in the short- and long-term.
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