Asia Centric: Can China Pivot to Consumption-Led Growth?
China has long relied on massive infrastructure spending and an unstoppable export engine, leading to a record $1.2 trillion trade surplus last year. However, this investment-heavy strategy is testing its...
By Clara Chen · Bloomberg
China has long relied on massive infrastructure spending and an unstoppable export engine, leading to a record $1.2 trillion trade surplus last year. However, this investment-heavy strategy is testing its limits as global trading partners increasingly push back, making Beijing’s transition toward a consumption-based economy more critical than ever.