A Chinese consumption breakthrough? | The global jobs slowdown

China’s government is making louder noises about boosting consumption, a shift that’s critical not just for rebalancing its investment-heavy economy, but also for easing global imbalances. But are these signals part of a real policy pivot? China Economist Leah Fahy talks to David Wilder about the latest in China’s rebalancing story and what it means for the trajectory of its economic growth. Also in this episode: July’s US jobs report was a shock, but it’s part of a wider slowdown across advanced economies. Chief Global Economist Jennifer McKeown explains what’s driving the weakness and how it could shape central bank decisions ahead. Events and analysis referenced in this episode: Read: Chinese overcapacity is a disinflationary gift and a geopolitical threat Read: Millions in China are about to see their take-home pay fall Read: Consumer loan subsidies are a step in the right direction Read: Labour markets weakening in most DMs, not just US Data: US Labour Market Data: UK Labour Market Indicators Key Issue: The economic and market impact of AI Fed Chair Powell at Jackson Hole (Aug 2025)