China’s ascent tells two stories. One of power, precision, and industrial brilliance - the other of imbalance, aging, and constraint. In this episode, Alan Dunne and George Magnus trace the hidden geometry of that divide. They explore how a nation that builds for the future struggles to sustain its present: an economy split between advanced manufacturing and fading momentum, between the Party’s control and the market’s gravity. From local debt and demographic drag to rare-earth diplomacy and the politics of currency, Magnus sketches China not as a riddle to be solved, but as a system nearing the limits of its own design.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - <a href="https://dunncapital.com/DUNN%2050-Year%20Book-TTU" rel="noopener noreferrer" target="_blank">CLICK HERE</a>-----Follow Niels on <a href="https://twitter.com/toptraderslive" rel="noopener noreferrer" target="_blank">Twitter</a>, <a href="https://www.linkedin.com/in/nielskaastruplarsen" rel="noopener noreferrer" target="_blank">LinkedIn</a>, <a href="https://www.youtube.com/user/toptraderslive" rel="noopener noreferrer" target="_blank">YouTube</a> or via the <a href="https://www.toptradersunplugged.com/" rel="noopener noreferrer" target="_blank">TTU website</a>.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written&nbsp;<a href="https://www.toptradersunplugged.com/Ultimate" rel="noopener noreferrer" target="_blank">here</a>.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” <a href="https://www.toptradersunplugged.com/10-reasons-shownotes" rel="noopener noreferrer" target="_blank">here</a>.Learn more about the Trend Barometer <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank">here</a>.Send your questions to&nbsp;<a href="mailto:info@toptradersunplugged.com%22%20%5Ct%20%22_blank" rel="noopener noreferrer" target="_blank">info@toptradersunplugged.com</a>And please share this episode with a like-minded friend and leave an honest Rating & Review on&nbsp;<a href="https://www.toptradersunplugged.com/reviewttu" rel="noopener noreferrer" target="_blank">iTunes</a>&nbsp;or <a href="https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW" rel="noopener noreferrer" target="_blank">Spotify</a> so more people can discover the podcast.Follow Alan on <a href="https://www.linkedin.com/in/alanjdunne/?originalSubdomain=ie" rel="noopener noreferrer" target="_blank">LinkedIn.</a>Follow George on <a href="https://x.com/georgemagnus1?lang=en" rel="noopener noreferrer" target="_blank">Twitter.</a>Episode TimeStamps: 00:00 – Opening and disclaimer02:23 – George Magnus on career path and China focus06:56 – Data, distortions, and how to analyze China credibly11:37 – Two-track reality: advanced industry vs. a strained macro base16:56 – Why consumption rebalancing keeps failing22:29 – Stock-market boosts vs. household wealth effects25:45 – China’s “QE by other means”: credit, banks, LGFVs27:40 – Who’s levered? Local governments and off–balance sheet debt29:51 – Japan echoes and key differences33:23 – Trade frictions, rare-earth leverage, and U.S.–China tactics38:01 – Belt & Road 2.0: fewer loans, more influence42:56 – Capital controls and the ceiling on RMB internationalization49:00 – Hong Kong’s evolving financial role50:54 – CCP control after the plenum; succession optics53:47 – Taiwan scenarios and risk contours55:51 – Plateau vs. precipice: what could still break57:54 – Career advice for macro and China analysisCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. <a href="https://www.toptradersunplugged.com/resources/ebooks/" rel="noopener noreferrer" target="_blank">Click Here</a>2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank">Click Here</a>3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. <a href="https://www.toptradersunplugged.com/resources/" rel="noopener noreferrer" target="_blank">Click Here</a><a href="https://www.toptradersunplugged.com/legal/privacy-policy/" rel="noopener noreferrer" target="_blank">Privacy Policy</a><a href="https://www.toptradersunplugged.com/disclaimer/" rel="noopener noreferrer" target="_blank">Disclaimer</a>

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