Beijing is pushing new efforts to battle the lagging consumption weighing on China’s economy.
Cooling demand for solar panels, cars, and hogs is proving a drag on once-booming sectors: Plummeting pork prices are particularly telling given how widely the meat is consumed, making it “especially susceptible” to slumps, The New York Times wrote. Economists aren’t holding their breath for a broad consumer stimulus push. Policymakers, though, are looking to expand the services sector, a shift away from the traditional growth playbook of subsidies and cheap credit, Trivium China analysts wrote.
Beijing “wants China to own the value that wraps around” the products it makes, like design and IP. “In other words, China wants its own Apple.”
