China is attempting to boost its consumption numbers and improve their economic standing. China already supplies to many international consumers, but this plan will aim to boost the domestic consumption numbers. They want to increase inbound tourism, with focus given to ice and snow regions to develop them into premier tourist destinations for winter sport and activities. There will also be a call to help boost the incomes of rural workers in China.
With the US economy in question, China will try and take advantage of every opportunity they can get to boost theirs. They have struggled with some stagflation following COVID-19, but a focus on domestic economics could give them a boost.
https://www.cnbc.com/2025/03/17/china-economy-plan-to-boost-domestic-consumption.html
2 comments:
I find it crazy how the tariffs have affected the entire world. We can see other countries try and boost their economy because of the uncertainty of our economy.
This will be interesting to follow in the near future. Tariffs most definitely will have an impact on China and it appears they are trying to counteract that.
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