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IMF Asia-Pacific Department Head Says China's Real Estate Crisis Has Dragged On Too Long, Calls for Improving Social Security

10.15 ·Reported ·Importance II ·Sources 1 ·Bangkok

On October 15, according to a Reuters report, IMF Asia-Pacific Department Head Srinivasan stated in Bangkok that China's economic growth still mainly relies on external demand, the scale of fiscal stimulus is limited, and the real estate crisis has dragged on too long, calling on the government to boost household confidence and improve the social security system.

Not looking at GDP, looking at “hard power”

09.21 ·Reported ·Importance III ·Sources 1 ·Beijing

Instead of focusing on GDP, look at “hard power”: youth unemployment rate is 18.9%, AI continues its great leap forward. On September 21, The New York Times reported that while the unemployment rate for non‑student Chinese youth aged 16‑24 has risen to 18.9% and consumption and real estate remain sluggish, Beijing is still preparing to pour massive resources into artificial intelligence. Bloomberg previously said China is planning to invest about $295 billion over the next five years to build… #Xi Jinping

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