As the U.S.–China trade war has left China’s financial markets in trouble amid an already slowing economy, China recently announced a plan to boost economic growth.
In a July 16 article, Economic Information Daily, a newspaper run by Chinese state media Xinhua, reasoned that because of “explosive growth” in “inelastic demand” for senior care, education, and health care, these fields should be further commercialized and exposed to market forces. People would spend more money in these areas, thus boosting the overall economy, the article claimed.
