India: All Growth, No Jobs
Commuters and pedestrians walk past the Chhatrapati Shivaji Terminus railway station in Mumbai, India.
Photographer: Dhiraj Singh/BloombergSubscribe to Stephanomics on Apple Podcasts
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This week we focus on the two giants of the global economy: China and India. At first glance, China seems to be shrugging off the effects of U.S. tariffs, but Bloomberg economists looked closer and found that Chinese exports to the US in 1,000s of product categories had been hit hard and this trade had not also been replaced by U.S. production or exports from other countries. Host Stephanie Flanders gets the full story from Bloomberg economist Maeva Cousin. We also explore a great economic puzzle of recent times: how can India grow by 6%-7% a year for 20 years without creating jobs for half of its potential workers?