Unhedged China Shock 2.0
119 snips
Apr 23, 2026 
Joe Leahy, Beijing bureau chief for the Financial Times, gives on-the-ground reporting on China’s economic and geopolitical shifts. He discusses China’s move from cheap manufacturing to high-tech industries like EVs and solar. He outlines targeted industrial policies, subsidies and party oversight. He also covers the geopolitical and regional impacts of China’s green-tech dominance.
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Beijing Felt Quiet After EV Boom
- Joe Leahy recounts arriving in China post-COVID and noticing unusually quiet cities due to the prevalence of EVs.
- He contrasts noisy 1990s/2000s cities with Beijing's current humming electric-vehicle streets.
Southeast Asia's Industrial Ladder Is Closing
- China's rise threatens Southeast Asian industrialization by occupying almost the entire manufacturing ladder.
- Joe Leahy notes countries from textiles to EVs now face Chinese competition and consequent job losses.
Political Backlash Is A Real Risk For China
- European companies warn Chinese industrial policy is unsustainable politically and may trigger protective responses.
- Joe Leahy explains firms expect politicians to react if domestic jobs keep disappearing to subsidised Chinese competition.