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

Today’s episode is part 2 of our conversation with Anne Stevenson-Yang, founder of J Capital and one of the foremost American-born experts on the China business landscape, having lived and worked in China for more than 25 years. Last week was an incredible fast-paced conversation with someone who holds no punches when it comes to being honest about China and this week was no different. We kicked it off with a discussion about China’s unemployment rates, talking about whether we are to believe what we are being told is true, and spoiler alert it’s that we are very much not comparing apples to apples because what the Chinese measure and disclose as unemployment rates are actually quite different than what the West typically measures BECAUSE they care about very different outcomes when it comes to unemployment. We get Anne’s opinion on how China has dealt with COVID-19 and its impact on the economy. We also talk about China’s housing bubble – where is it at, how did it get there, and if and when it might burst, if it will at all. We ask Anne about the state of the brick and mortar banking system in China, discussing how the inefficiencies gave rise to internet banking, and the problem banks have in trying to assess and offer it’s customers credit-style scores on which to lend towards. We talk about the impact of COVID-19 on Xi Jingping’s control over the country, hurting or helping his cause, and we close with a very frank discussion about the best and worst times Anne has seen living in China over her 25 years and why, other than the food, it’s the people she misses most being stuck in America during the pandemic. Enjoy!