Andrew Sheng Says China Undergoing Creative Destruction

The video discusses China's economic transition from manufacturing to a service economy, highlighting its high savings rate and debt distribution. It covers the phasing out of old industries, the role of state-owned enterprises, and the potential for a banking crisis. The growth of Shenzhen and Hong Kong's competitive position are examined, along with the global property bubble and central bank balance sheets.

Discuss the implications of China's growth rate on its debt situation compared to other countries like Japan.

What role does the Pearl River Delta play in China's economic growth, particularly in high-tech industries?

How do global interest rates impact property bubbles, and what is the current situation in China regarding this?