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Anne Stevenson-Yang Podcasts

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6 of The Best Podcast Episodes for Anne Stevenson-Yang. A collection of podcasts episodes with or about Anne Stevenson-Yang, often where they are interviewed.

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6 of The Best Podcast Episodes for Anne Stevenson-Yang. A collection of podcasts episodes with or about Anne Stevenson-Yang, often where they are interviewed.

Updated daily with the latest episodes

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Anne Stevenson-Yang Part 2 | Unemployment Rates, China's Housing Bubble, & the RMB Exchange Rate Explained

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Today on The Negotiation, we speak with Anne Stevenson-Yang, Co-Founder and Research Director of J Capital Research.Asked about how China deals with its unemployment rates, Anne says that those who manage these developments “come out of the security systems” in the public sector. Unemployment is a “security function” as opposed to an “economic function”. The focus is not on random people who are unemployed, but rather those who were previously employed who are legal residents of a certain area. The higher these numbers, the higher the risk to social stability.“China excels at campaign-driven activities that have very simple and clear targets,” says Anne. This focus has helped the country drive (and keep) down the infection rate of COVID-19. However, this has had a long-term negative impact on the economy, with around 300 million migrant workers left without a job or unable to return to work. It is also uncertain how China’s housing situation will play out, as the value of property continues to rise without the presence of ready and willing buyers.Alipay and WePay have left much of the brick and mortar banking system behind, thanks to the one-stop-shop nature of a lot of digital payment and banking platforms, not to mention the convenience of using this technology.Xi Jinping’s influence depended entirely on the cooperation of all parties on both the local and international levels. The pandemic has obviously caused a lot of damage and uncertainty, leading to the loss of much of the president’s far-reaching power. Says Anne: “It was always predictable that, as China was no longer able to deliver on rapid growth through massive investment, that it would politically close up and become more repressive.”
Sep 01 2020 · 23mins
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Anne Stevenson-Yang | China's Position as an Economic Powerhouse, The US Election, & Whether Alibaba is a Good Investment Target

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Today on The Negotiation, we speak with Anne Stevenson-Yang, Co-Founder and Research Director of J Capital Research.China’s manufacturing industry developed in three stages: cheap labor, superseded by cheap IP, superseded by cheap capital. What has brought foreign businesses to China is not so much the low-cost of labor as the low-cost of capital. Anne says that the average American citizen has not been hurt by the competition from cheap labor, “but the way in which the U.S. political system has recycled the profits from China back into the pockets of the top 1% of the population” rather than investing in American infrastructure, education, equipment, etc.Anne does not believe that there will be a decoupling of manufacturing. Rather, there will be a joining and a strengthening of a lot of international institutions that will allow the U.S. to force China into negotiations instead of fanning the flames of hostility as per usual. However, there is a lot of doubt that China will be capable of participating in these institutions because their system is fundamentally different from those of other big economic players. For instance, Anne considers the Belt and Road Initiative to be another manifestation of China’s desire to plant its roots around the world while staying fundamentally unchanged in its development model.China’s coupling with the international world starting in 1979 was a deliberate strategy done to capture as many resources as possible, which included technological expertise, intellectual property, and capital. This was carried out in order to make China “as presentable and as like America as possible, enough that those benefits would start to flow into China.” Today, that process has more or less reached its peak, resulting in marginal returns.Says Anne, “I think that China is rapidly fading from the international scene as an economic player of great importance, and I think that’s going to continue to happen. It is not because of U.S. decoupling. It is because that is what China has chosen through its developmental model. [...] The development model is based on massive and growing capital investment, and that type of development model reaches a shelf life, or growth limit before it starts to unravel.”
Aug 25 2020 · 29mins

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21: Why UXIN’s stock is a lemon with Anne Stevenson-Yang of J Capital Research

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In this episode of the China Tech Investor Podcast powered by TechNode, our hosts talk with the one and only Anne Stevenson-Yang, co-founder and research director at J Capital Research. Anne and her team at J Cap recently made headlines when they released a report accusing US-listed Chinese second-hand auto sales platform UXIN of fraud, recommending a short on their stock.

Please note, the hosts may have interest in some of the stocks discussed. The discussion should not be construed as investment advice or a solicitation of services.

Watchlist:

  • Tencent
  • Alibaba
  • Baidu
  • iQiyi
  • Xiaomi
  • JD.com
  • Pinduoduo
  • Meituan-Dianping

Guest:

Anne Stevenson-Yang - @doumenzi

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Apr 23 2019 · 1hr
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Investing in China with Anne Stevenson-Yang

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Good morning listeners,
Today I have a very special guest. Anne Stevenson-Yang is the Co-founder and Research Director of J Capital Research. She cofounded J Capital back in 2007. Some of the areas she covers are solar, internet, medical devices, property, and China’s maco-economy. Before J Capital Research she cofounded Blue Bamboo Adventures, an online media business. She has worked in China for over 25 years and worked as an industry and trade advocate. In this episode we discuss her company J capital Research and investing in China.

1:16 – Can you tell me about your background and how you got started in the finance and investment industry?

2:45 – How did you guys get started in J Capital Research and what area did you specialize in?

6:45 – You guys do trips to China, Mongolia, and Australia…

8:55 – Do you have any stories on Mongolia?

11:16 – How did your firm develop their area of expertise?

12:00 – Any other countries or markets you wanted to expand into?

13:00 – What are examples of big Chinese brands in the consumer space?

15:20 – How would you characterize or describe your way of financial analysis and investigating companies?

16:35 – When you evaluate your shorts and longs for the company, how do you define and manage the risk for that company?

19:20 – In terms of the idea being actionable, do you try to do it within a year?

22:36 – Can you tell me about your idea generation process?

25:29 – What are your views on investing in China and Asia in general?

31:44 – Can you tell me about the retail investor market in China?

33:00 – What opportunities do you see for managers investing in China and challenges they face?

39:27 – What are your views on the trade war?

41:30 – Your views on bitcoin and cryptocurrency in China and how they are dealing with that?

44:37 – What are your favorite books?

52:05 – If people want to visit China, when is the best time?

53:03 – Who are your mentors?

Enjoy and thanks for the listen!
Apr 24 2018 · 55mins

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2017 ChinaPower Conference, Proposition 5: Economic Liberalization, Damien Ma v. Anne Stevenson-Yang

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Proposition: Xi Jinping will make economic liberalization a higher priority during his second term   FOR: Damien Ma Fellow and Associate Director, Think Tank, Paulson Institute Adjunct Lecturer of Global Initiatives in Management, Northwestern University   AGAINST: Anne Stevenson-Yang Co-Founder, Research Director, J Capital Research Co. Ltd.   Tuesday, November 14, 2017                                 The challenges and opportunities presented by China’s rise are hotly contested. ChinaPower's 2017 conference featured leading experts from both China and the U.S. to debate core issues underpinning the nature of Chinese power. Watch the videos and find out the poll results of the debates here.
Jan 23 2018 · 1hr 3mins
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The Chinese Financial System and the Prospects for a Hard Landing in China | Anne Stevenson-Yang

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In Episode 16 of Hidden Forces, host Demetri Kofinas speaks with Anne Stevenson-Yang. Anne is the co-founder of J Capital Research, which conducts ground-up, primary research for institutional money managers on stocks, the Chinese economy, and the Chinese financial system. She is also the author of the recent book China Alone: China's Emergence and Potential Return to Isolation, in which she sets out her views on the Chinese economy and political system, arguing that China historically repeats a cycle of expansion and retreat.

In today’s conversation, we take a trip around the world to the land of China. Our conversation concerns itself with the contemporary changes in Chinese society that came after the death of Chairman Mao. What was life like in China before Nixon and Kissinger made their famous visit in 1971? Why did modernization and reform in China begin after 1978? Who was responsible for the opening in China? What was the role of Deng Xiaoping, and why is he remembered as "the architect” of a new brand of thinking that combined socialist ideology with pragmatic aspects of market economics - a system the Chinese call "Socialism with Chinese Characteristics?”

What changes did the Chinese experience between 1979 and 1989, during the implementation of the economic reforms of Deng Xiaoping? How did these reforms culminate into the protests in Tiananmen Square in 1989? What was the Chinese government’s reaction to the uprisings? The Chinese response differed significantly from the Soviet reaction to the fall of the Berlin Wall in the same year. The Chinese government decided to follow a different path after the massacres in Tiananmen Square, by turbocharging economic development. Explicit targets were set for GDP growth. There was selective liberalization of the Chinese economy, particularly in Chinese real estate. China placed a huge emphasis on building its manufacturing industries and on acquiring hard currency through exports. The Chinese financial system remained highly centralized and China's currency, the renminbi, carefully controlled. All this was used towards re-investment with an almost single-minded commitment to hitting the government's GDP targets.

Some have called the rise of China in the late 20th century a miracle. It is more appropriate to call it "the Chinese miracle." The size of the Chinese economy has increased more than 25-fold in the last 25 years. Thirty years ago, the Chinese economy measured in at less than 5% of US GDP in exchange terms (perhaps as low as 2%). By 1992, the Chinese economy was only 6% of US GDP. By 2000 China weighed in at roughly 12-15% of US GDP. Today, China boasts a Gross Domestic Product that is roughly 60% that of United States. Loan Growth in the Chinese financial system has averaged 16 percent in the last 20 years. Loan growth in China reached an all-time high of 35% percent of GDP in June of 2009, amidst the greatest economic contraction since the Great Depression. Total debt in China recently surpassed 300% of GDP. This makes the finances of Western nations like the United States, France, and the United Kingdom seem frugal by comparison. In the first 7 years since the financial crisis, bank liabilities in the Chinese financial system grew by nearly $15 trillion dollars. This is the near equivalent of the consolidated size of all US commercial banks. China has used more cement in 3 years of massive overbuilding than the U.S. employed in all of the 20th Century. Hundreds of thousands of meters of unsold residential real estate sit empty around the country. There is a massive amount of industrial overcapacity in China. Chinese ghost cities have become almost as cliche as the fake Paris', Venice, and Dubai's created within mainland China. The Chinese economy is in terrible need of a recession. But the Chinese government cannot afford the recession that it desperately needs. Nevertheless, it cannot avoid the crisis that has been building in the Chinese financial system. How will the citizens of China, its trading partners, emerging markets and developed economies react when the reckoning finally arrives. How much longer can the Chinese government continue to postpone the inevitable?

Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

Join the conversation on FacebookInstagram, and Twitter at @hiddenforcespod

Jul 24 2017 · 58mins