Reported 7 days ago
China's recent consumer stimulus plan is a significant departure from decades of investment-led growth, aiming to boost household demand and meet its 2024 growth target. With plans to issue around 2 trillion yuan in sovereign bonds to support consumer goods purchases, this effort is seen as monumental by economists. However, shifting the economic model to prioritize consumption over investment involves daunting challenges and structural changes, as household spending remains significantly below global averages.
Source: YAHOO