Shoppers in Beijing on July 30. China’s massive domestic consumption is the most important driver in its new policy, which means ensuring that the job market is in good health. Photo: Reuters Shoppers in Beijing on July 30. China’s massive domestic consumption is the most important driver in its new policy, which means ensuring that the job market is in good health. Photo: Reuters
Shoppers in Beijing on July 30. China’s massive domestic consumption is the most important driver in its new policy, which means ensuring that the job market is in good health. Photo: Reuters
Hao Zhou
Opinion

Opinion

The View by Hao Zhou

What China’s pivot towards economic self-sufficiency means

  • As global headwinds grow, China has turned its attention inward to focus on domestically driven economic growth
  • This will come at the expense of efficiency and accelerate deglobalisation, but it’s a price Beijing is willing to pay

Shoppers in Beijing on July 30. China’s massive domestic consumption is the most important driver in its new policy, which means ensuring that the job market is in good health. Photo: Reuters Shoppers in Beijing on July 30. China’s massive domestic consumption is the most important driver in its new policy, which means ensuring that the job market is in good health. Photo: Reuters
Shoppers in Beijing on July 30. China’s massive domestic consumption is the most important driver in its new policy, which means ensuring that the job market is in good health. Photo: Reuters
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Hao Zhou

Hao Zhou

Hao Zhou currently serves as a senior economist (emerging markets) with Commerzbank. He covers North Asia economic and markets research.