💨 Abstract

China's 75th foundation day celebration was marred by economic struggles, with youth unemployment, layoffs, and business closures affecting many, while the rich are moving money out of the country. The government has recently introduced a stimulus package to boost the economy, but economists argue that more structural changes are needed to reverse the downturn and transition to a more sustainable consumption-led growth model, as the current investment-led approach has reached a dead end.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖