Reported about 21 hours ago
China's leaders are addressing the troubling phenomenon of 'involution' or excessive competition, particularly among manufacturing sectors, as it threatens economic stability through aggressive price cuts. Originating from the term 'neijuan', which highlights the exhausting pursuit of traditional success markers, this trend has resulted in diminishing returns for many industries, leading to deflationary pressures and increased job losses. The government's 'anti-involution' campaign aims to curb these harmful competitive practices, particularly in sectors like electric vehicles and solar energy, where overcapacity and price wars have sparked significant financial losses.
Source: YAHOO