Subsidizing tourism services is unlikely to meaningfully lift China's consumption share of GDP (still ~40% vs Japan's 60% and the US's 70%) because the structural problem is household balance sheets; a durable rebalancing requires stronger social security, more reliable pensions, and demographic solutions rather than more school holidays.

causalpending

Speaker

Alice Han

Evidence Quote

consumption share of GDP that is it's still around 40%, Japan's at 60%, the US is 70%... That probably will require more structural solutions [36:05]

Source

How Much BIGGER Can China’s Trade Surplus Get? | China DecodeThe Prof G Pod – Scott Galloway
Created: 6/18/2026, 1:57:55 PM

My Notes

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