Mr. Henderson sits down with China analyst and investor Cyrus Janssen to examine one of the most misunderstood narratives in global economics: the supposed stagnation of China's middle class.

While Western commentary often focuses on decline, debt, and demographic headwinds, the lived economic reality inside China tells a more complex story. From digital infrastructure and consumer confidence to domestic brand dominance and capital flows, structural shifts are underway that investors and policymakers cannot afford to ignore.

Rather than debating ideology, this conversation analyzes systems — how people transact, travel, consume, save, and deploy capital — and what those behaviors signal about long-term power distribution.

In this episode, Andrew and Cyrus discuss:

● Why China's middle class continues expanding despite persistent narratives of contraction

● The role of digital infrastructure and "super-app" ecosystems in reshaping daily economic behavior

● What recent equity rebounds reveal about global sentiment gaps and valuation dislocations

● Why younger Chinese consumers are reallocating spending toward experiences over status luxury

● How domestic brands are overtaking Western incumbents across coffee, EVs, technology, and travel

● The implications of rising national confidence for passports, mobility, and outward investment

● Energy production, infrastructure build-out, and China's strategic push toward consumer self-reliance

Rather than predicting collapse or inevitability, this episode explores something more useful: how perception gaps create asymmetric opportunity.

Follow Cyrus: Cyrus Janssen

About Borders

Borders is a long-form audio series hosted by Andrew Henderson, exploring how capital, power, and opportunity are reorganizing beyond the Western mainstream.

Each episode features an unscripted conversation with founders, policymakers, investors, and thinkers operating at the edges of conventional narratives. The focus is structural clarity — not headlines.

Produced by Vesper. Hosted by Mr. Andrew J. Henderson: Website