[Post 587] Made In China Only: China Looks Domestically For Growth But Will It Succeed? | Insight

Summary

Shawn Allard, 27, quit his job as a dental consultant and decided to buy two Arizona ice cream shops called Novel Ice Cream. In 2023, the business brought in $1.2 million in sales.Whether by choice or circumstance, China is looking inward for its economic growth. 

President Xi Jinping wants Chinese consumers to spend their way to growth, buying up domestically made goods. At the same time, the government will invest more in “New Productive Forces” – A.I, Green Tech and Advanced Computing - all for the goal of moving up the value chain and shedding China’s reliance on foreign technology. 

In this period of “de-coupling” and trade wars, Beijing might have little choice but to become more self-sufficient. Yet, an overly inward-looking and nationalistic China could discourage foreign investors. Are domestic consumption and production enough to jumpstart China’s sputtering economy?