Is Chinese President Xi's Tech-Driven Growth Push Starting to Pay Off?

President Xi Jinping's focus on technology and innovation is aimed at propelling China to the forefront of global economic power. By heavily investing in sectors like AI, 5G, and green technologies, China is striving to reduce its dependency on foreign technology and drive domestic growth.

Just like early 2020, this is the part where the west put out all sort of analysis on how manufacturers will leave China because of lock-downs. China is not just the only country with an un-captured government capable of going against the interest of the rich and deflate their real estate bubble China is the only country capable of doing so with minimal effect to the total economy with massive growth in industry and technology. Housing and living prices directly affects demographics, in a world where everyone has a demographics problem. Just like 2020, in time you will realize China is the only country that solved their demographic problem.

Xi is absolutely correct. Last time China allowed the property prices to race ahead without fetter as they think they must let the private sector bloom. When USA changed tack on China and imposed tariffs. China cannot go on as normal. It must reinvent itself. High property prices means the lazy monies will collect lots of passive rent and spend on more luxuries. Low property prices will force people to work harder and invent more. It will force the rich to be less rich and buy less luxury goods. The country will go onto a frugal mode and work harder. Right now, the Chinese have more than $3 trillions of savings in banks but unwilling to spend because of frugality. They are uncertain about the tough times. These conditions are actually better for the country. The country will be lean and mean. It will deliver more value for monies.

Real estate/housing is for living in, not for speculation.

shouldn't all governments be pushing for high quality growth? I don't understand why western media find this so perplexing.

Hong Kong has the most expensive property market in the world and its effects on cost of living and political instability did not go unnoticed by the mainland government.

Growing 5% a year sounds pretty good no?

Of course it's paying off at some point... They are not stupid... Does Bloomberg TV have this Filipino reporter constantly talking about China??

He should talk to the homeless people in the middle of downtown LA and SF.

we look like a 3rd world country compare to china...if anyone been to china would have seen it...

Bloomberg is always so much rosier about China than most other economists in the West. Bloomberg's rosy view of China is due in part, I think, to the fact that so many of their guests make their living in a way that depends on China's economy or at least on what those guests are able to affect perceptions of China's economy.

A research team from the University of Science and Technology of China has reported observing antiferromagnetic phase transition in a large and uniform quantum simulator, according to a study published in the journal Nature. The quantum simulator is the first to achieve the simulation of the fermionic Hubbard model beyond classical computers using ultracold atomic quantum simulators.

Jai Hind. It is exciting for Xi to start a New journey in the New era.

Best to be vague to the outside world but continue driving in the right direction. The snake has been rattled by the 2nd Plenum, and its response has been clearly seen. There is no point rattling it even more.

Chip alone will add few % to GDP due to own patents, own design and manufacturing, etc. Profits stay home.

American propaganda

no they're full of hackers

:face-blue-smiling:Tell me, who would have enough capacity to buy all these "high tech" product?

I am eager see if Xi can pull off nimble changes in policy and industry!

Dan looks like a creep