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China: Economy is finally hitting the wall
  • The growth target of "over 6%" is not only a quantitative goal, but also means the optimization of the economic structure and the transformation of the development model. The report on the work of the government this year also noted that "the energy intensity of China's GDP will decline by about 3%." In addition, a requirement has been put forward to work towards peak carbon emissions and carbon neutrality; an action plan is also required to reach a peak in carbon emissions by 2030. All this will contribute to the further development of new energy sources in China, and also make the background of economic development "clean".

    China also intends to put forward a number of practical measures, from "deeply promoting reform in various areas and stimulating the viability of market actors" to "implementing high-quality economic development based on innovative development, developing new impulses." The PRC should gradually promote scientific and technological independence, give impetus to innovative forces, so that they, in turn, stimulate high-quality economic development.

    The “over 6%” growth target also includes people's aspirations for a great life and also reflects a human-centered development mindset. Growth of "over 6%" reveals an increase in people's livelihoods and will also benefit thousands of families.

    “Large commercial banks have increased their lending to micro-enterprises by over 30%,” while continuing to support small and medium-sized enterprises. At the same time, “the living conditions of people are improving and the income of residents continues to increase through various channels. “Financial subsidies per capita for basic health insurance and basic public health services will be increased by RMB 30 and RMB 5, respectively,” to continue to improve people's lives and well-being.

    We see all signs of full stop of fast China growth, no more cheap energy, lack of other resources.

    Huge injections that are more than US Fed craze, same goes with support of small and extremely inefficient enterprises, as elites hope that they know some small sources of energy and resources and could use them.

  • 3 Replies sorted by
  • China is definitely not growing at 6%. Their figures are bogus to begin with. And that number is with the huge support for zombie projects - search for ghost towns in China.

  • all i got out of that is that they need to switch to clean nuclear power and increase and vertically align tech sector.

  • @hardimpact

    Issue with nuclear power is uranium, as most of it is controlled by US and EU now.

    1986 had been peak of uranium availability, year the ruling class made major incident to slow down development.