China has not pursued structural economic transformation toward consumer-driven growth because one, it is very difficult, and two, it requires powerful vested interests (local governments, state enterprises) to surrender economic and political power, which these entities are unwilling to do.
causalpending
Speaker
Tony MavinEvidence Quote
“there's a lot of power that has to be given up it's um and maybe more powerful when you have a robust Dynamic consumer Market that may be more powerful like in general but if that means that local governments for example have to give up some of their economic influence or their power”
Created: 8/11/2026, 7:35:40 AM
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