Oddbean

China hosts meeting amid concerns over weak consumption, overcapacity ========== China is hosting its Third Plenum to discuss economic and political policy measures for the next 5-10 years. Concerns are growing about the impact of China's economy on global trade, with accusations of flooding foreign markets with cheap goods. The meeting comes as China is facing challenges such as a property market crisis, rising unemployment, and weak consumer spending. The US and the EU have already responded with new tariff actions on various goods. Analysts believe that Beijing is unlikely to change its export-heavy approach to economic growth and is more focused on technological breakthroughs. China has launched initiatives to boost consumer spending, but they have been relatively unsuccessful. China's high savings rate and saving culture contribute to low levels of household consumption. Analysts expect China to continue developing technology and relying on exports for economic growth. The US Treasury Department's Undersecretary of International Affairs hopes that China will address the concerns of its major trading partners and work with them to find solutions. #China #ThirdPlenum #GlobalTrade #Consumption #Overcapacity #Tariffs #EconomicGrowth #TechnologicalBreakthroughs #SavingsRate #SavingCulture https://www.voanews.com/a/china-hosts-top-level-meeting-amid-concerns-over-weak-consumption-overcapacity/7695919.html