and his diplomats had exhibited just weeks ago. What would prompt such an abrupt change in position? The answer is simple: China’s economy is in big trouble.
Further evidence of China’s grim economic prospects can be found in the Central Economic Work Conference, a meeting summarizing the state of China’s economy and establishing the priorities for economic efforts in 2023. According to the briefing, the biggest challenge for China's economy, beyond balancing epidemic prevention and control with economic development, is the lack of domestic demand.
In the face of low consumption, China resorts to old ways of increasing GDP: investments. In the past, these investments focused on infrastructure and real estate development. But with the real estate sector sinking and infrastructure in excess, China is now shifting the focus of these investments to the high-tech, digital, and newindustries. This shift will require time, and the West’s technology, to implement.
The question for the U.S. and the rest of the West is whether Xi’s gesture should be welcomed. Some might argue that if the Chinese Communist Party could become more open and tolerant, stabilizing its rule might be possible. But I would argue that we must learn from history and stop connecting the CCP’s economic reform and its decision to open up with a move toward freedom and democracy. We need to see instead that it is merely a stopgap measure in the midst of a crisis.
Tell that to 10% Joe (AKA The Big Guy)
You can rest assured, if it’s something we shouldn’t do, Joe Biden and his gaggle of clowns will do it.
This should be a given!
Agree
You notice how POTUS JoeBiden has stabilized the economies of the cartels and Communist China. Yet he has done nothing to stabilize the American economy.
actually at this point, China's economy woe is largely its own doing, nobody can save it. It will impact US export for sure, but no big deal. As long as our manufacturing sector continues its pace of retuning and global supply chain is re-structuring, we are fine.
🤣🤣🤣🤣 As if Xi is going to give 'the Big Guy' any choice. 🤣🤣🤣🤣🤣🤣🤣