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CHINA PRESS: China Needs To Rely On Consumer Demand

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

The government needs to boost consumer demand to ensure China’s economy meets its potential growth rate, said Cai Fang, chief expert at the National Think Tank of the Chinese Academy of Social Sciences, at a recent forum. Cai said geopolitics and anti-globalisation made external demand uncertain, and infrastructure and industrial investment was not large enough to be the main economic driver. Policy support to formalise the care economy would boost GDP given one-third of social services' labour time was unpaid and would increase employment opportunities for women, Cai noted.

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The government needs to boost consumer demand to ensure China’s economy meets its potential growth rate, said Cai Fang, chief expert at the National Think Tank of the Chinese Academy of Social Sciences, at a recent forum. Cai said geopolitics and anti-globalisation made external demand uncertain, and infrastructure and industrial investment was not large enough to be the main economic driver. Policy support to formalise the care economy would boost GDP given one-third of social services' labour time was unpaid and would increase employment opportunities for women, Cai noted.