Anne Stevenson-Yang Part 2 | Unemployment Rates, China's Housing Bubble, & the RMB Exchange Rate Explained

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Today on The Negotiation, we speak with Anne Stevenson-Yang, Co-Founder and Research Director of J Capital Research.Asked about how China deals with its unemployment rates, Anne says that those who manage these developments “come out of the security systems” in the public sector. Unemployment is a “security function” as opposed to an “economic function”. The focus is not on random people who are unemployed, but rather those who were previously employed who are legal residents of a certain area. The higher these numbers, the higher the risk to social stability.“China excels at campaign-driven activities that have very simple and clear targets,” says Anne. This focus has helped the country drive (and keep) down the infection rate of COVID-19. However, this has had a long-term negative impact on the economy, with around 300 million migrant workers left without a job or unable to return to work. It is also uncertain how China’s housing situation will play out, as the value of property continues to rise without the presence of ready and willing buyers.Alipay and WePay have left much of the brick and mortar banking system behind, thanks to the one-stop-shop nature of a lot of digital payment and banking platforms, not to mention the convenience of using this technology.Xi Jinping’s influence depended entirely on the cooperation of all parties on both the local and international levels. The pandemic has obviously caused a lot of damage and uncertainty, leading to the loss of much of the president’s far-reaching power. Says Anne: “It was always predictable that, as China was no longer able to deliver on rapid growth through massive investment, that it would politically close up and become more repressive.”

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