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China prioritises consumer spending ahead of technology as economic worries weigh

  Copy link into your clipboard //science-technology.news-articles.net/content/2 .. ead-of-technology-as-economic-worries-weigh.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Spurring reluctant Chinese consumers to spend has been elevated to the top of Beijing's to-do list for 2025, leap-frogging technology and industrial production, as lawmakers look to rectify imbalances in the world's second-largest economy.
The article from MSN discusses China's strategic shift in economic policy, prioritizing consumer spending over technological advancements as a response to ongoing economic challenges. Amidst a backdrop of a slowing economy, declining exports, and a property market slump, the Chinese government is now focusing on boosting domestic consumption to stimulate growth. This pivot comes as the country faces significant economic headwinds, including deflationary pressures and a lack of consumer confidence. Previously, China had heavily invested in technology sectors like semiconductors and AI to drive economic progress. However, with the current economic climate, there's a noticeable policy shift towards encouraging spending through various incentives and possibly reducing reliance on exports and investment-led growth. This change aims to create a more balanced and sustainable economic model, although it presents challenges in transitioning from an investment-heavy to a consumption-driven economy.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/news/other/china-prioritises-consumer-spending-ahead-of-technology-as-economic-worries-weigh/ar-AA1AgH4E ]