Listen: Why China is no 1990s Japan
In this podcast, ING's Rob Carnell looks at the causes of China’s current slowdown, how this differs from Japan’s experience in the 1990s, and what to expect in the years ahead
As the Western world struggles to tame high inflation, fears of persistent deflation are taking root in China.
Prices at the factory gate have been dropping for months and in June, fell at the fastest pace in seven years. Consumer prices, meanwhile, have begun to flatline. The property market is stagnating and the economy overall has been losing momentum, fuelling speculation that China could be facing a prolonged period of decline similar to the so-called Lost Decade witnessed by Japan in the 1990s.
China, the world’s second-biggest economy, may indeed be entering a new era, after many years of rapid growth. But in this podcast, ING’s Regional Head of Research in Asia, Rob Carnell, tells Senior Editor Rebecca Byrne why he thinks comparisons to Japan are wide of the mark.
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