and fair, the big boss web browsers tells me ourfoundation is and fair, the big boss web browsers tells me our foundation is trying to compete with google and apple and still have an influence. wherever your joining wherever yourjoining me from around the world, bigelow on a warm welcome to the show and china, second biggest economy and more than four times the size ofjapan. times the size of japan. what happens there certainly matters. a year since the government abandon coronavirus lockdowns economist are struggling and including vast debts of the property market in local government soaring youth unemployment at an ageing workforce and trade tension with the united states. lost in decades and some say that was deliberate but it will be achieved according to the imf will finish the assessment in november while warning big challenges still lie ahead. reaching 5.4% in 2023 and reflecting a strong reopening and rebound in domestic demand particularly consumption. growth will slow as _ particularly consumption. growth will slow as we _ particularly consumption. growth will slow as we expect _ particularly consumption. growth will slow as we expect the - particularly consumption. growth i will slow as we expect the weakness of the property sector to continue. 0f of the property sector to continue. of hasp of the property sector to continue. 0f hasp hooks match between youth properties casting in the economy, our correspondent found out on a trip. our correspondent found out on a tri -. , our correspondent found out on a tri . _ , ., ., our correspondent found out on a tri. , ., ., ,., ., ., trip. this woman brought a flat here but it's largely _ trip. this woman brought a flat here but it's largely empty _ trip. this woman brought a flat here but it's largely empty of— trip. this woman brought a flat here but it's largely empty of its - trip. this woman brought a flat here but it's largely empty of its value i but it's largely empty of its value has collapsed. i am worried, but what _ has collapsed. i am worried, but what can— has collapsed. i am worried, but what can i— has collapsed. i am worried, but what can i do. has collapsed. i am worried, but what can i dw— has collapsed. i am worried, but what can i tie-— has collapsed. i am worried, but what can i do. there are shells of tower blocks _ what can i do. there are shells of tower blocks that _ what can i do. there are shells of - tower blocks that appear abandoned. supply and demand is limited to this area or this city, you can find clusters of towers of them occupied or unfinished apartments and workers stopped altogether and consider the same things happening in province province across the country. that is enough to house the entire population of italy and also training confidence. also not enough jobs for young people. pa rt part of the problem is less jobs are being treated by foreign companies, foreign investors done by a third compared to the time earlier and global economic challenge including inflation and thus us china tensions. inflation and thus us china tension— inflation and thus us china tensions. ., , ., ., ., , tensions. not 'ust of a few wealthy eo - le tensions. not 'ust of a few wealthy --eole but tensions. not 'ust of a few wealthy people but a — tensions. not just of a few wealthy people but a common _ tensions. not just of a few wealthy people but a common prosperity i tensions. not just of a few wealthy | people but a common prosperity for all. employment, education, medical services, _ all. employment, education, medical services, elderly care, housing, the environment— services, elderly care, housing, the environment and the like. these issues _ environment and the like. these issues important to people's daily lives are _ issues important to people's daily lives are being steadily integrated into our— lives are being steadily integrated into our plans for national development.— into our plans for national development. with this trend development _ development. with this trend development look _ development. with this trend development look like - development. with this trend development look like and i development. with this trend i development look like and how difficult would be to solve the tensions between socialism and capitalism. i've been speaking to an china economist and they have been addressing the very questions in her new book, the new china playbook. a real pleasure having you on the show. the challenges for president xijinping, what is the most pressing point? the xijinping, what is the most pressing point? xijinping, what is the most -aressin oint? , ., , pressing point? the chinese economy is undergoing — pressing point? the chinese economy is undergoing a _ pressing point? the chinese economy is undergoing a serious _ pressing point? the chinese economy is undergoing a serious challenge, - is undergoing a serious challenge, hi-h is undergoing a serious challenge, high youth — is undergoing a serious challenge, high youth unemployment, - is undergoing a serious challenge, - high youth unemployment, mountainous debt overhang _ high youth unemployment, mountainous debt overhang and — high youth unemployment, mountainous debt overhang and income _ high youth unemployment, mountainous debt overhang and income growth- high youth unemployment, mountainous debt overhang and income growth the i debt overhang and income growth the people _ debt overhang and income growth the people it's _ debt overhang and income growth the heapie it's saving _ debt overhang and income growth the people it's saving and _ debt overhang and income growth the people it's saving and it's _ debt overhang and income growth the people it's saving and it's really- people it's saving and it's really piqued, — people it's saving and it's really piqued, these _ people it's saving and it's really piqued, these are _ people it's saving and it's really piqued, these are serious- people it's saving and it's really- piqued, these are serious challenges but i piqued, these are serious challenges but i want _ piqued, these are serious challenges but i want to— piqued, these are serious challenges but i want to ask _ piqued, these are serious challenges but i want to ask a _ piqued, these are serious challenges but i want to ask a question, - piqued, these are serious challenges but i want to ask a question, is - piqued, these are serious challenges but i want to ask a question, is the l but i want to ask a question, is the cyclical— but i want to ask a question, is the cyclical or— but i want to ask a question, is the cyclical or structural, _ but i want to ask a question, is the cyclical or structural, is _ but i want to ask a question, is the cyclical or structural, is this - cyclical or structural, is this a permanent— cyclical or structural, is this a permanent decline _ cyclical or structural, is this a permanent decline with - cyclical or structural, is this a permanent decline with more cyclical or structural, is this a - permanent decline with more state control, _ permanent decline with more state control, i— permanent decline with more state control, ido— permanent decline with more state control, i do not— permanent decline with more state control, i do not think— permanent decline with more state control, i do not think so _ permanent decline with more state control, i do not think so but - permanent decline with more state control, i do not think so but the l control, i do not think so but the fact is— control, i do not think so but the fact is the — control, i do not think so but the fact is the chinese economy- control, i do not think so but the fact is the chinese economy did. control, i do not think so but the . fact is the chinese economy did not see this _ fact is the chinese economy did not see this kind — fact is the chinese economy did not see this kind of— fact is the chinese economy did not see this kind of huge _ fact is the chinese economy did not see this kind of huge type - fact is the chinese economy did not see this kind of huge type of- see this kind of huge type of package _ see this kind of huge type of package that _ see this kind of huge type of package that the _ see this kind of huge type of package that the us - see this kind of huge type of package that the us had - see this kind of huge type of. package that the us had during see this kind of huge type of- package that the us had during the pandemic— package that the us had during the pandemic and — package that the us had during the pandemic and there _ package that the us had during the pandemic and there is _ package that the us had during the pandemic and there is a _ package that the us had during the pandemic and there is a lack - package that the us had during the pandemic and there is a lack of - pandemic and there is a lack of confidence, _ pandemic and there is a lack of confidence, post— pandemic and there is a lack of confidence, post pandemic- pandemic and there is a lack of - confidence, post pandemic recovery as weii— confidence, post pandemic recovery as well and — confidence, post pandemic recovery as well and it's _ confidence, post pandemic recovery as well and it's a _ confidence, post pandemic recovery as well and it's a painful— as well and it's a painful adjustment _ as well and it's a painful adjustment and - as well and it's a painful adjustment and additive as well and it's a painful- adjustment and additive that is as well and it's a painful— adjustment and additive that is the real estate — adjustment and additive that is the real estate. the _ adjustment and additive that is the real estate. the real— adjustment and additive that is the real estate. the real estate - real estate. the real estate tracking _ real estate. the real estate tracking everything - real estate. the real estate tracking everything down. i real estate. the real estate tracking everything down. [j real estate. the real estate tracking everything down. i think most of it is _ tracking everything down. i think most of it is cyclical _ tracking everything down. i think most of it is cyclical and - tracking everything down. i think most of it is cyclical and you - most of it is cyclical and you cannot — most of it is cyclical and you cannot write _ most of it is cyclical and you cannot write off— most of it is cyclical and you cannot write off the - most of it is cyclical and you cannot write off the second i cannot write off the second largest economy— cannot write off the second largest economy as — cannot write off the second largest economy as it— cannot write off the second largest economy as it won't _ cannot write off the second largest economy as it won't overtake - cannot write off the second largest economy as it won't overtake the i cannot write off the second largest i economy as it won't overtake the us at some _ economy as it won't overtake the us at some point, — economy as it won't overtake the us at some point, i— economy as it won't overtake the us at some point, i think— economy as it won't overtake the us at some point, i think that— economy as it won't overtake the us at some point, i think that is- economy as it won't overtake the us at some point, i think that is the - at some point, i think that is the wrong _ at some point, i think that is the wrong assumption— at some point, i think that is the wrong assumptio— at some point, i think that is the wrong assumption china centring this new era shaped _ wrong assumption china centring this new era shaped by — wrong assumption china centring this new era shaped by a _ wrong assumption china centring this new era shaped by a radically - new era shaped by a radically different in younger generation. how with the shift change the chinese economy? with the shift change the chinese econom ? ., with the shift change the chinese econom ? . ., ., ., economy? have not gone to the vicissitudes _ economy? have not gone to the vicissitudes the _ economy? have not gone to the vicissitudes the nations - economy? have not gone to the vicissitudes the nations come i vicissitudes the nations come through. _ vicissitudes the nations come through. they— vicissitudes the nations come through, they have _ vicissitudes the nations come through, they have it - vicissitudes the nations come through, they have it much . vicissitudes the nations come - through, they have it much easier and want — through, they have it much easier and want to— through, they have it much easier and want to spend _ through, they have it much easier and want to spend and _ through, they have it much easier and want to spend and be - through, they have it much easier and want to spend and be more . and want to spend and be more relaxed — and want to spend and be more relaxed and _ and want to spend and be more relaxed and expensive - and want to spend and be more relaxed and expensive much. and want to spend and be more . relaxed and expensive much more and want to spend and be more - relaxed and expensive much more on things— relaxed and expensive much more on things like _ relaxed and expensive much more on things like leisure, _ relaxed and expensive much more on things like leisure, travel, _ things like leisure, travel, apparel, _ things like leisure, travel, apparel, entertainment. things like leisure, travel, i apparel, entertainment much things like leisure, travel, - apparel, entertainment much more than the _ apparel, entertainment much more than the previous _ apparel, entertainment much more than the previous generations - than the previous generations despite — than the previous generations despite having _ than the previous generations despite having lower- than the previous generations despite having lower income. than the previous generations i despite having lower income and than the previous generations - despite having lower income and that is a new_ despite having lower income and that is a new way— despite having lower income and that is a new way of— despite having lower income and that is a new way of life _ despite having lower income and that is a new way of life for _ despite having lower income and that is a new way of life for the _ despite having lower income and that is a new way of life for the new- is a new way of life for the new generation _ is a new way of life for the new generation. we _ is a new way of life for the new generation-— generation. we saw the youth unemployment _ generation. we saw the youth unemployment past _ generation. we saw the youth unemployment past the - generation. we saw the youth unemployment past the 2196 i generation. we saw the youth - unemployment past the 21% mark generation. we saw the youth - unemployment past the 2196 mark but unemployment past the 21% mark but beijing is cracking down on youth focus industries like private tuition, technology and gaming. i thought helped or hindered ) is skill and education mismatch and graduates, where do they go, university diploma and what kind of jobs are there. the university diploma and what kind of jobs are there-— jobs are there. the 25 million manufacturing _ jobs are there. the 25 million manufacturing jobs _ jobs are there. the 25 million manufacturing jobs to - jobs are there. the 25 million manufacturing jobs to be - jobs are there. the 25 million l manufacturing jobs to be filled jobs are there. the 25 million - manufacturing jobs to be filled but these _ manufacturing jobs to be filled but these families— manufacturing jobs to be filled but these families and _ manufacturing jobs to be filled but these families and paid _ manufacturing jobs to be filled but these families and paid enormousl these families and paid enormous sums— these families and paid enormous sums for— these families and paid enormous sums for the _ these families and paid enormous sums for the education _ these families and paid enormous sums for the education and - these families and paid enormous sums for the education and the i sums for the education and the crackdown _ sums for the education and the crackdown of _ sums for the education and the crackdown of the _ sums for the education and the crackdown of the sector, - sums for the education and the crackdown of the sector, they i sums for the education and the i crackdown of the sector, they do sums for the education and the - crackdown of the sector, they do not want their— crackdown of the sector, they do not want their kids — crackdown of the sector, they do not want their kids to _ crackdown of the sector, they do not want their kids to be _ crackdown of the sector, they do not want their kids to be in— crackdown of the sector, they do not want their kids to be in some - want their kids to be in some factories— want their kids to be in some factories but— want their kids to be in some factories but that _ want their kids to be in some factories but that mass - want their kids to be in some factories but that mass is - want their kids to be in some . factories but that mass is really important — factories but that mass is really important lry— factories but that mass is really important by the _ factories but that mass is really important by the government . factories but that mass is really important by the government is raising — important by the government is raising the _ important by the government is raising the status _ important by the government is raising the status of _ important by the government is raising the status of these - important by the government is raising the status of these jobsl raising the status of these jobs with less — raising the status of these jobs with less discrimination - raising the status of these jobs with less discrimination and . raising the status of these jobs. with less discrimination and that raising the status of these jobs - with less discrimination and that is happening — with less discrimination and that is happening really— with less discrimination and that is happening really rapidly. _ with less discrimination and that is happening really rapidly. find - with less discrimination and that is happening really rapidly.— happening really rapidly. and she wondered if— happening really rapidly. and she wondered if the _ happening really rapidly. and she wondered if the chinese - happening really rapidly. and she i wondered if the chinese government policies are forward—looking enough to embrace this whole new generation was green beer looking continuous with policies in the world and the ambition is to make china higher value _ ambition is to make china higher value chain — ambition is to make china higher value chain and _ ambition is to make china higher value chain and train _ ambition is to make china higher value chain and train engineers i ambition is to make china higher. value chain and train engineers and technical— value chain and train engineers and technical workers _ value chain and train engineers and technical workers and _ value chain and train engineers and technical workers and that - value chain and train engineers and technical workers and that is - value chain and train engineers and technical workers and that is the i technical workers and that is the direction — technical workers and that is the direction and _ technical workers and that is the direction and tutorial— technical workers and that is the i direction and tutorial programmes, this is— direction and tutorial programmes, this is gone — direction and tutorial programmes, this is gone really— direction and tutorial programmes, this is gone really out _ direction and tutorial programmes, this is gone really out of— direction and tutorial programmes, this is gone really out of hand - this is gone really out of hand because — this is gone really out of hand because of— this is gone really out of hand be