China doesn’t know what “consumption” is

Monday 5 August 2024

Here is the full transcript of the Politburo measures to boost Chinese consumption. It is worth reading to get a full grasp of how lost Beijing is.

Opinions of the State Council on Promoting High-Quality Development of Service Consumption

The People’s Governments of all provinces, autonomous regions, and municipalities directly under the Central Government, and all ministries, commissions, and directly affiliated agencies of the State Council:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.