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Beijing has to clear its overcapacity, rebuild confidence, and increase people’s disposable income to counter deflation, economist Davy Wong said.
Workers producing garments at a textile factory that supplies clothes to fast fashion e-commerce company Shein in Guangzhou, China, on June 11, 2024. Jade Gao/AFP via Getty Images
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China’s economy will continue to struggle without structural changes, analysts say amid China’s deepening deflation, slowdown in manufacturing, and slowing international trade.
To rescue China’s economy, the regime will have to spur market vitality and rebuild confidence in the system, U.S.-based economist Davy Wong told The Epoch Times.
