2023-08-26 05:59:05
▲China’s economy is difficult to recover, and foreign media pointed out that dictatorship and wrong decision-making are the main reasons. schematic diagram. (Photo/Associated Press/Dazhi Image)
[NOWnews今日新聞] China’s post-epidemic recovery is slow, and a series of recent thunderstorms by real estate giants have cast a shadow over China’s economy. According to foreign media analysis, China’s politics tends to be authoritarian, and clumsy policymakers face increasingly severe economic challenges, but continue to make Wrong decisions are the main reason why it is difficult for the economy to recover.
“Economist”According to reports, the Chinese economy has been unable to get out of the quagmire this year. Judging from the data for the second quarter of this year, China’s annual economic growth is only 3.2%, which is far worse than that of the United States, which is close to 6%. Although some people compare it with the Japanese economic bubble in the 1990s, but At that time, the economic situation of the Japanese people was generally more stable, and he bluntly stated that China might be facing a “worse situation.”
“The Economist” believes that China’s decision-making is increasingly dominated by ideology, and many problems stem from the top leadership. Although policies frequently go wrong, Xi Jinping continues to tighten power, prioritizing national security over economic development, making the situation even worse. worsening, the economic and financial sectors are tied, and it is difficult to come up with effective ways to stimulate growth.
Even though it is falling into deflation and economic growth is far below expectations, the Beijing authorities still have no intention to actively rescue the market. A series of wrong policies, coupled with aggressive diplomacy of war wolf, the US-China trade and technology wars continue, and waves of purges once morest private enterprises. All foreign capital began to deter.
In addition, the centralized economy is good at imitating but not good at innovating. More and more evidence shows that the more authoritarian the system, the greater the damage to the economy. Frankly speaking, following 40 years of rapid growth, China has entered a “disappointing” During the period, it did not promote the development of democracy and individual freedom because of the growth of trade and markets.
Archyde.comAccording to the analysis, many young people did not invest heavily in consumption as economists expected following the epidemic was lifted in China. Instead, they saved their salaries to prepare for possible situations such as illness and unemployment. China’s job market is sluggish, and the youth unemployment rate has repeatedly hit record highs. 80% of the private sector is still recovering from the regulatory crackdown by the authorities. To promote youth consumption, it is necessary to first address their insecurities, such as strengthening social security system to rebalance the economy.
A 45-year-old owner of a restaurant in Hainan Island said that people’s income has not improved much following the epidemic, and both consumers and stores have to tighten their belts: “I will control my desire to shop. In the past, we often went out to eat and eat. Tourism is very rare now.”
Although some economists have proposed to deploy better and more extensive public services, better social welfare, give workers higher wages, or distribute shares in state-owned enterprises to citizens, etc., the question is who should pay for it, if it is an enterprise , I am afraid that it will form a new blow to employment and economic growth, and the rest is the government sector. Some experts bluntly said that the wealth and power of local governments, business circles, and financial elites often depend on the control of assets. The real conflict may be how to allocate and adjust costs between the central and local governments, which will become the most controversial in the next two years one of the political issues.
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