“The priority of macroeconomic policy should shift from promoting more investment in the past, to promoting both consumption and investment, with more importance attached to consumption.”
On January 15, CN Wire reported news of China implementing a trade-in policy for mobile phones, tablets, and smartwatches from January 20. The move could be the first step in many to boost consumption.
However, economists have raised concerns about China’s economic outlook and the need to change the economic model. Natixis Asia Pacific Chief Economist Alicia Garcia Herrero commented on China’s challenges to shift to a consumption economy. She stated:
“Xi Jinping’s ideological opposition to…
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