Why Xi Jinping is staring into an economic abyss
3 months, 3 weeks ago

Why Xi Jinping is staring into an economic abyss

The Telegraph  

Herbert Lun believes lockdown made Chinese consumers more frugal. The managing director of Wing Sang Electrical, which makes products such as hair dryers and straighteners, says habits have changed since the country’s zero covid policy forced millions to stay at home. “I do see consumer behaviour changing, including less spending on frivolous luxury goods,” he says. “In the past, luxury brands, and especially foreign brands, have done well in China, but since Covid I see a shift to more domestic brands that offer much better value for money,” he says. But the shift away from Western brands only scratches the surface of the changes taking hold in the world’s second largest economy.

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History of this topic

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy
2 months ago

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy

LA Times  

China’s 1.4 billion consumers once spent with enough abandon to help drive the global economy. While the bigger factor is a worsening real estate downturn, which has eroded demand for commodities and diminished a crucial vehicle for household wealth and investment, economists say China’s economy is unlikely to recover without a rise in domestic spending. Chinese consumers are going through …

China steps up efforts to boost domestic demand
3 months ago

China steps up efforts to boost domestic demand

China Daily  

A consumer learns about trade-in plans for home appliances at a store in Chongqing in July. SUN KAIFANG/FOR CHINA DAILY BEIJING -- The National Development and Reform Commission, China's top economic planner, said Thursday that it is intensifying efforts to spur investment and consumption in its bid to bolster domestic demand. Specifically, the NDRC will continue to support government investment …

Xi Jinping sets the course for China's economy for the next decade as he prepares for a fourth term
5 months ago

Xi Jinping sets the course for China's economy for the next decade as he prepares for a fourth term

ABC  

The conclusion of the Chinese Communist Party's 20th Third Plenum marks a significant moment in Chinese politics, as Xi Jinping appears to be laying the groundwork for an unprecedented fourth term. The Third Plenum's communiqué sets a reform deadline of 2029 and emphasises the decisive significance of the "Two Establishes", which solidify Xi's core position in the Party and the …

Why Xi Can No Longer Brag About the Chinese Economy
1 year, 1 month ago

Why Xi Can No Longer Brag About the Chinese Economy

Live Mint  

In 2021, Chinese President Xi Jinping popularized a slogan signifying China’s expected displacement of the U.S. as the world’s leading economic power: “The East is rising, the West is declining." China’s GDP may one day reach 90% or even 100% of the U.S.’s, but there’s no realistic scenario in which it reaches 150% or 200%, he said. He was signaling, …

China’s Xi Jinping, secure in power, faces deepening economic challenges
2 years, 1 month ago

China’s Xi Jinping, secure in power, faces deepening economic challenges

Live Mint  

His challenge will now be to show he can just as deftly manage an economy that has weakened considerably this year. Chinese markets tumbled on Monday after Beijing rolled out a party leadership packed with Xi loyalists, and the government said China’s economy expanded by 3.9% in the third quarter of 2022. Mr. Xi’s move to promote numerous allies and …

Chink in Xi Jinping's armour: Economy ‘trouble’ and China's plan
2 years, 2 months ago

Chink in Xi Jinping's armour: Economy ‘trouble’ and China's plan

Hindustan Times  

Development remains China’s top priority, Xi Jinping said on Sunday during a speech at the opening session of the 20th Chinese Communist party's congress adding that reforms will be made in the direction of a socialist market economy. Xi Jinping said that China must focus on high-quality development which should include work safety, supply chain resilience and the “dual circulation” …

As China's economy teeters under COVID-19 and housing market in meltdown, President Xi Jinping looks set to become permanent ruler
2 years, 2 months ago

As China's economy teeters under COVID-19 and housing market in meltdown, President Xi Jinping looks set to become permanent ruler

ABC  

By this time next week, China's President Xi Jinping will be well on the way to securing a stunning personal victory. After a decade of leading the world's second-largest economy, lifting China's global influence and positioning the country as a military superpower, Xi next week will cement his own destiny by securing a historic third term as general secretary of …

Why is Xi Jinping doubling down on a ‘zero-Covid’ policy that is causing massive economic distress and public anger in China?
2 years, 7 months ago

Why is Xi Jinping doubling down on a ‘zero-Covid’ policy that is causing massive economic distress and public anger in China?

Firstpost  

China has entered a period of deep economic distress. In the struggling real estate sector that is battling increased regulatory pressure to go with the effects of China’s ‘dynamic zero-Covid’ policy, housing sales fell by more than 40 per cent year-on-year in April while revenue from land rights — a crucial source of earning for local governments — nosedived 38 …

Why Xi Jinping’s China is Reluctant to Bail out Evergrande
3 years, 2 months ago

Why Xi Jinping’s China is Reluctant to Bail out Evergrande

News 18  

The optics of sit-in protests by irate investors in various offices of one of China’s largest realty firms, Evergrande, and clashes between demonstrators and law-enforcement gave credence to a view that this was a huge challenge to the Chinese Communist Party. EXPLAINED | The Evergrande Crisis And What It Means For Markets Clash of Two Visions As China liberalised its …

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