US Economy Surges Amid Revisions, China Faces Fiscal Challenges

Simply Economics

In this episode, we explore the latest revisions from the Bureau of Economic Analysis that reveal a resilient US economy, with GDP growth holding steady at 3.0% and Gross Domestic Income revised up to 3.4%. We also analyze the challenges facing China's economy under Xi Jinping, who prioritizes political survival over necessary reforms. Additionally, we discuss China's potential fiscal response to its economic troubles, including the sale of special treasury bonds. Join us for a comprehensive look at these critical economic developments and their implications for global markets.
Sources:
https://finance.yahoo.com/news/revisions-show-us-economy-still-062400190.html/
https://foreignpolicy.com/2024/09/26/xi-jinping-china-third-plenum-political-survival-economic-challenges/
https://www.scmp.com/economy/policy/article/3280072/chinas-all-out-action-plan-could-gather-pace-2-4-weeks-fiscal-loosening-analysts
https://realeconomy.rsmus.com/robust-economic-revisions-defy-recession-doubts/
Outline:
(00:00:00) Introduction
(00:00:41) Revisions Show US Economy Is Still Flying High
(00:02:58) Xi Jinping Is Prioritizing Political Survival Over Economic Prosperity
(00:05:45) China’s all-out action plan could gather pace with fiscal loosening: analysts
(00:08:13) Robust economic revisions defy recession doubts