Cut The Clutter: Crisis in Xi’s ’command’ economy as deflation, deleveraging & defaults compound rising unemployment

Chinese President Xi Jinping had a message this June for the highly qualified youth unable to find jobs amid the massive employment crisis facing the country. “Choosing to eat bitterness,” he said, “is also choosing to reap rewards.” Economic behemoth China is in the midst of a crisis: Deflation stalks the economy, its largest real estate company Country Garden finds itself in default danger two years after the Evergrande saga, imports are slipping, and 1 in 5 Chinese graduates is struggling to find a job. In Ep 1290 of Cut The Clutter, Editor-in-Chief Shekhar Gupta explains just what is going on with the Chinese economy.