China’s economy is in “bad shape” as President Xi Jinping works to get it back on track, citizens have warned.
The Chinese Communist Party has been grappling with several economic crises in months.
The collapse of stock markets, the collapse of real estate giant Evergande, and the long-term posed by an aging population have led to a collapse.
Ordinary Chinese citizens are now feeling the consequences of high unemployment and the asset market that demands drastic interventions.
Speaking to Bloomberg, a police officer in a southwestern Chinese city described the turmoil facing China.
READ MORE: Britain considers enforcing price lists for Chinese electric cars following ‘invasion’ accusation
Zhou, who was only looking to be referred to by his surname, said, “As long as my source of income is decent, I don’t complain. . . But now the economy is in bad shape, the leaders want to show us some hope.
Neil Thomas, an expert on Chinese politics at the Asia Society Policy Institute’s China Analysis Center, also told the outlet: “It turns out that everyone in society and in government knows there’s a problem.
“But no resolution has been reached on new approaches to address those problems. “
Yun Sun, director of the China program at the Washington-based think tank Stimson Center, also said a challenge with China’s leadership is that “people respond to Xi’s personal tastes in data and policy, which makes objective assessment very difficult. “
Don’t miss. . . Putin Planned ‘Suspicious’ Nuclear Attack on China, Leaked Documents Say [REPORT] China Ignores US Warnings, Sends Ships to Taiwan’s Regulated Waters [INSIGHT] China is building a huge £60 billion new city to prevent Beijing’s chaos attack [LAT]
This week’s headlines have created a new headache for the Chinese government as factory activity declined for a fifth month. Some foreign investors have also pulled their investments out of the country amid the ongoing crisis.
China’s Ministry of Commerce met with foreigners this week to seek their comments on China’s economy.
Jens Eskelund, President of the EU Chamber of Commerce in China, said: “The impression that most of us have had is that there is a genuine preference on the part of the Ministry of Commerce to implement these measures.
“I think the government was encouraging openness and I think a number of participants were quite direct in their comments. “
We use your registration to provide content in the way you have consented and based on our perception of you. This would possibly include advertising from us and third parties, as we perceive it. You can unsubscribe at any time. Learn more