Reported about 16 hours ago
As China grapples with declining consumer spending and a challenging economic landscape, the government is under pressure to implement long-term policies to boost household consumption. Recent initiatives, like a trade-in scheme for consumer goods, may stimulate short-term spending but could harm future consumption. Experts suggest fundamental reforms are necessary to enhance consumer confidence and spending, including improving social safety nets and dismantling barriers that create urban-rural inequality. However, immediate structural changes seem unlikely, with officials expected to maintain a modest growth target and potentially increase debt to sustain the economy.
Source: YAHOO