Stephen S. Roach laments that the government has paid little more than lip service to its greatest macroeconomic challenge.
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Economics
Jun 26, 2026
Stephen S. Roach
When China’s leaders first acknowledged the need to rebalance the economy nearly two decades ago, it seemed like a matter of when, not if. But with the household consumption share of Chinese GDP remaining stubbornly low, officials’ promises to boost domestic demand have lost all credibility.
Arvind Subramanian rebuts the claim that the country’s mercantilist development model has short-changed consumers.
The idea that investment and consumption are in zero-sum tension overlooks how confidence, not income, is the true bottleneck.
Jayati Ghosh highlights the growing triumphalism among the country's economists—and explains why it may be misplaced.
Two high-level meetings show that Beijing is aware of economic imbalances as Politburo prepares high-stakes growth assessment…
With internal demand becoming even more important to China's long-term planning, scholars have suggested making consumption a…
Beijing’s focus on elevating consumption and protecting the private sector offers hope for Chinese consumers to show their true…
