China Bets on Consumption Amidst US Trade War
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Amidst escalating US-China trade tensions and high tariffs, China aims to boost domestic consumption to offset export losses. Despite a sluggish post-pandemic recovery, high youth unemployment, and falling home prices, the Chinese government is urging increased consumer spending to drive economic growth. This strategy, highlighted in People's Daily, aims to leverage China's large market to counter the impact of reduced US trade.
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