In episode 8 of ECON 102, Noah Smith and Erik Torenberg discuss the factors brewing up a major crisis for China’s economy, and what this means for the US and other international powers. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine -- SPONSOR: NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite ✅ http://netsuite.com/turpentine and download your own customized KPI checklist. -- Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co -- RECOMMENDED PODCAST: Founding a business is just the tip of the iceberg; the real complexity comes with scaling it. On 1 to 1000, hosts Jack Altman and Erik Torenberg dig deep into the inevitable twists and turns operators encounter along the journey of turning an idea into a business. Hear all about the tactical challenges of scaling from the people that built up the world’s leading companies like Stripe, Ramp, and Lattice. Our first episode with Eric Glyman of Ramp is out now: https://link.chtbl.com/1to1000 -- TIMESTAMPS: (00:00) Episode Preview (01:37) Noah’s observations from his trip to Japan (03:03) Chinese Economic Carnage (04:09) Who is affected? (04:59) How will falling resource prices affect inflation? (14:12) China’s upcoming recession (16:41) China’s building investments need to stop (20:12) China’s paradox of thrift (20:57) China’s boomer republican leaders (21:39) What can China’s growth look like from here? (27:11) What are China’s options for allaying the unrest? (28:44) Extend and Pretend (29:26) Balaji was wrong about China as diplomatic power (33:18) China owns a Sri Lankan city now (34:04) When Noah was most bullish on China’s future: the Hu Jintao era (36:33) Xi JinPing as Stalin; Steve Ballmer (40:00) The revolution of rising expectations theory in American  (44:52) Spelling out our biggest fears about China (47:23) Successes in recent alliances: Japan and Korea alliances, India, Vietnam, (51:00) What are we watching for next? -- LINKS: Noah's Substack: https://www.noahpinion.blog/p/why-chinas-economy-ran-off-the-rails China's 40 Year Boom is Over, Wall Street Journal: https://www.wsj.com/world/china/china-economy-debt-slowdown-recession-622a3be4 -- X / TWITTER: @noahpinion (Noah) @eriktorenberg (Erik)