Reported about 16 hours ago
Stephen Roach, former chairman of Morgan Stanley Asia, advocates for China to aim for household consumption to represent 50% of its economic output over the next decade. He emphasizes the urgent need for new growth sources amid a struggling economy and suggests that a more aggressive approach is necessary in the upcoming 15th Five-Year Plan. Despite recent efforts to boost domestic demand, progress has stalled due to diminishing consumer subsidies, highlighting the need for structural reforms to foster consumption.
Source: YAHOO