In the News
Consumers are key to sustaining Chinese economic growth
China is expected to approve a five-year economic plan this week. Economic growth in the world’s second largest economy has been slow and the Chinese government is betting on consumer spending to spark a turnaround. Consumption has been exceptionally low as a share of national income and part of the re-balancing of the economy will require a shift towards household demand for goods and services. Chinese people tend to be savers - the absence of a significant welfare safety net is part of the reason for this.
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