Thinking About China
Opinion

Beijing Makes More Promises on the Ailing Economy, but Offers No Solutions

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Beijing Makes More Promises on the Ailing Economy, but Offers No Solutions
A worker driving past residential buildings under construction by Chinese real estate developer Vanke in Hangzhou, in eastern China's Zhejiang Province, on March 31, 2024. STR/AFP via Getty Images
Milton Ezrati
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Commentary

All 24 members attending the recent Politburo meetings in Beijing spoke of how China’s economy needs help. This is a big difference from a year ago. Then, the authorities refused to acknowledge China’s huge economic challenges. The admission of trouble has emerged only gradually during the spring Communist Party meetings: first the Two Sessions, then the spring Politburo, then the Third Plenum in early July, and now, these most recent meetings.

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Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”