CNA Insider – 18-6-2024
Whether by choice or circumstance, China is looking inward for its economic growth.
President Xi Jinping wants Chinese consumers to spend their way to growth, buying up domestically made goods. At the same time, the government will invest more in “New Productive Forces” – A.I, Green Tech and Advanced Computing – all for the goal of moving up the value chain and shedding China’s reliance on foreign technology.
In this period of “de-coupling” and trade wars, Beijing might have little choice but to become more self-sufficient. Yet, an overly inward-looking and nationalistic China could discourage foreign investors. Are domestic consumption and production enough to jumpstart China’s sputtering economy?
0:00 China’s challenging growth target
5:10 China’s property downturn
7:00 New productive forces
10:44 Made in China 2025
12:10 China’s nationalistic consumerism
22:20 Navigating nationalism
24:50 China’s electric vehicle market
26:08 Claims of overcapacity
28:27 China seeks new export markets
33:30 China says it’s open for business
37:09 Low spending and deflation
42:45 Can China reach its growth target?
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