[NYT] China sets lowest economic growth target for decades

Trump's trade policies - as well as cutting off their black market supplier Iran - are hitting them where it hurts. America might finally have a middle class again instead of subsidizing the entire Chinese economy. Those of you who are struggling need to remain patient to see the benefits of this resurgence --- it won't happen overnight. The wheels are in motion.

America leads - the copycats follow.

China Sets Economy’s Growth Target Below 5% for First Time in Decades - The New York Times

Reflecting an economic strategy that is shifting away from export-led growth to a model that leaders hope will be more resilient to external shocks.

“This year is a pretty important year for structural reform,” said Dan Wang, the China director for Eurasia Group, a political risk consultancy. Wang said that China was taking advantage of the one-year trade truce with the US to focus on reforming its economy away from export-led growth, while the lower target also reflected a “higher tolerance for unemployment”

China also wants to focus on boosting domestic demand, something that economists say is essential to China’s long-term economic stability. Last year an editorial in state media said that consumption should be managed with the “same rigour” as production, a shift from the traditional focus on heavy industry to stimulate growth.

 

Because you lack vision. It's your own lack of ability that creates apathy.

Long term, the only way to stop the hollowing of the American middle class are stronger wages and more opportunities. No one was more responsible for the destruction of that in the past 25 years than China ignoring the WTO and the complete hollowing of the American manufacturing industry.

 

It's comparing apples to oranges. We're in the midst of a transition period where results don't happen overnight. Read the post above why stopping China's rapid growth, based on gutting the US middle class, is so important. Nobody cares about paying cheaper prices for crappy goods when you don't have stronger wages, upward mobility and a manufacturing base that doesn't guarantee long term safety. Your approach to keeping people poor with no incentive to work, but free everything isn't a sustainable model and never has been.

America leads, the rest follow.