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Home » What China pessimists get wrong
China

What China pessimists get wrong

i2wtcBy i2wtcJune 9, 2024No Comments2 Mins Read
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Yu Yongding

— June 9, 2024


Chinese Finance Minister Lan Fo’an made the remarks at a press conference on the sidelines of the National People’s Congress in Beijing on March 6, 2024. Credit: Ng Han Guan via AP Photo

Economists have recently been warning that China’s economic development is on the brink of a crisis. The problem, they argue, is that China’s growth has been driven by extremely high levels of capital investment, which has held back private consumption. Is a crisis really looming, as many predict? It is true that China’s growth pattern could be characterized as investment-driven for several decades. Like most East Asian economies, China has supported development.

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