Beijing’s new economic plan of building up its domestic market to reduce China’s reliance on exports risks being undermined by a lack of purchasing power among the people. Illustration: Kuen Lau
Beijing’s new economic plan of building up its domestic market to reduce China’s reliance on exports risks being undermined by a lack of purchasing power among the people. Illustration: Kuen Lau

China’s inward-facing ‘dual circulation’ strategy leaves many wondering where domestic demand will come from

  • A lack of purchasing power among the people is flying in the face of Beijing’s economic plan to create a massive domestic market to curb nation’s reliance on exports
  • Beneath surface of China’s weak consumer spending is a national wealth-distribution system that favours the state and the wealthy instead of average households

Beijing’s new economic plan of building up its domestic market to reduce China’s reliance on exports risks being undermined by a lack of purchasing power among the people. Illustration: Kuen Lau
Beijing’s new economic plan of building up its domestic market to reduce China’s reliance on exports risks being undermined by a lack of purchasing power among the people. Illustration: Kuen Lau
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