A top economist has joined the growing list of China’s elite to have disappeared from public life after criticizing Xi Jinping, according to The Wall Street Journal.
Zhu Hengpeng served as deputy director of the Institute of Economics at the Chinese Academy of Social Sciences (CASS) for around a decade.
CASS is a state research think tank that reports directly to China’s cabinet. Chen Daoyin, a former associate professor at Shanghai University of Political Science and Law, described it as a “body to formulate party ideology to support the leadership.”
According to the Journal, the 55-year-old disappeared shortly after remarking on China’s sluggish economy and criticizing Xi’s leadership in a private group on WeChat.
Lots of people, especially the Chinese. The sentiment about work, investment, economic prospects, consumption are all quite bad. The central bank is cutting rates. Just today the government dipped their toes into the helicopter money game. The only thing keeping the party going is exports
especially the Chinese
Source?
The sentiment about work, investment, economic prospects, consumption are all quite bad
Source?
https://tradingeconomics.com/china/consumer-confidence https://www.china-briefing.com/news/chinas-august-2024-economy-record-export-growth-amid-domestic-challenges/ https://www.euronews.com/business/2024/09/09/europes-luxury-goods-market-set-to-feel-the-pinch-as-china-growth-weakens https://www.msn.com/en-us/money/markets/analysis-chinas-monetary-volleys-miss-key-threat-to-economic-growth/ar-AA1r9V9Q
Plus anecdotal stories from people I know that traveled to China in the past few months.
Basically, the post-COVID recovery was already slower than expected. Then the property sector all but halted. People are stuck with gig work and temporary contracts.
Why do you imagine the government is doling out money for the first time if everything is peachy?
92 upvotes would suggest a lot of people.
But everything you could say about China rings just as true in Europe, in Japan and Korea, in India, in Russia…
Global populations are heading for a heavy sag, but westerners only know how to heckle the Evil Foreigners.
Funny because I’m European, and the GDP per capita levels of most EU countries are at 2008 levels.
As for a population pyramid, China will face the same problem as other countries as you say, possibly more magnified.
EU countries are filling up with war and climate refugees. And… 2008 is one hell of a year to pick as your benchmark.
