Dwarkesh Podcast

Dwarkesh Patel × Ken Rogoff

China may remain in crisis for “five or ten years,” with real estate near a third of the economy, demand crushed, and growth potentially only one percentage point faster than the US each year.Rogoff sees 10–20% inflation as the more likely US debt escape, while rising real rates, weaker Fed independence, and China’s construction of alternative payment rails make fiscal credibility, Taiwan preparation, and foreign-equity performance key signals to monitor.