Adam Tooze
Economic historian, Kathryn and Shelby Cullom Davis Professor of History at Columbia University, and author of Wages of Destruction, Crashed and Shutdown. Writes the Chartbook newsletter.
Adam Tooze did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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Our reading
The second China shock is landing on Europe, where the first one landed on the United States.
Their wordsIn China shock 1.0 the key target was the US. In China shock 2.0 it is Europe.
↗Chartbook 462: China shocked - beyond 1.0 and 2.0 to the "Big One".adamtooze.substack.com 1st of 5 in this piece
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Their wordsThe original point of the China Shock 1.0 discourse was not to foreground the unfairness of Chiense competition, so much as the malfunctioning of US policy and societal institutions in the face of concentrated globalization shocks.
↗Chartbook 462: China shocked - beyond 1.0 and 2.0 to the "Big One".adamtooze.substack.com 2nd of 5 in this piece
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Their wordsChina shock 2.0 threatens high status manufactured goods: European cars and engineering.
↗Chartbook 462: China shocked - beyond 1.0 and 2.0 to the "Big One".adamtooze.substack.com 3rd of 5 in this piece
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Their wordsWhat China is delivering in the 2020s is an industrial policy shock of global scale.
↗Chartbook 462: China shocked - beyond 1.0 and 2.0 to the "Big One".adamtooze.substack.com 4th of 5 in this piece
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Their wordsIt wasn’t just the West that drew conclusions from China shock 1.0. Beijing learned from China Shock 1.0 too.
↗Chartbook 462: China shocked - beyond 1.0 and 2.0 to the "Big One".adamtooze.substack.com 5th of 5 in this piece
- 7 days earlier
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Their wordsIt reveals things that are deeply wrong at the heart of the European economy.
↗Chartbook 460 Greedflation meets China shock: Can Europe's car industry be saved without making the cost of living crisis worse?adamtooze.substack.com 1st of 4 in this piece
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Their wordsAnd this in turn means that if we really want to find a way out of the impasse, advocacy for protection and support should be tied to demands for systematic reform.
↗Chartbook 460 Greedflation meets China shock: Can Europe's car industry be saved without making the cost of living crisis worse?adamtooze.substack.com 2nd of 4 in this piece
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Their wordsTo put this same story another way, the European car industry in the early 2020s was a prime example of greedflation i.e. companies taking advantage of the COVID shock and other disruptions and to hike profits at the expense of consumers.
↗Chartbook 460 Greedflation meets China shock: Can Europe's car industry be saved without making the cost of living crisis worse?adamtooze.substack.com 3rd of 4 in this piece
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Their wordsThe two seemingly contradictory trends connect, because the relatively low rate of productive investment leaves European industry vulnerable to its most vigorous competitors whose firms are contending with an even more deflationary macroeconomic situation at home in China.
↗Chartbook 460 Greedflation meets China shock: Can Europe's car industry be saved without making the cost of living crisis worse?adamtooze.substack.com 4th of 4 in this piece
- 4 weeks earlier
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Their wordsThey are none of these things. All three were predictable and overdetermined.
↗Chartbook 452 Europe's Machiavellian moment?adamtooze.substack.com 1st of 2 in this piece
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Their wordsRather they are the sign of disorientation, disillusionment and despair.
↗Chartbook 452 Europe's Machiavellian moment?adamtooze.substack.com 2nd of 2 in this piece