2024-12-30
9 分钟Hi, it's Alice Su here.
I co-host Drum Tower, our weekly podcast on China.
Here's an article handpicked from the latest edition of The Economist, read out loud.
I thought you might enjoy it.
Each December, China's rulers gather for their central economic work conference.
where they review the past 12 months and preview the tasks they face in the year ahead.
It is a useful exercise even
if you are not a member of the Communist Party's ruling Politburo.
This year the view in both directions looks bleak.
Retail sales in November were 3% higher than a year ago,
below expectations, even before adjusting for inflation.
Not that there was much of that.
consumer prices rose by only 0.2% over the same period.
Both stats reflect the chronic caution of households.
Consumer confidence has never recovered from its collapse during the Covid-19 lockdowns of Spring 2022.
That is the rear view.
What about the future?
Exports and manufacturing investment, which have helped prop the economy up in 2024,
face the prospect of a new trade war with America.
On the campaign trail, Donald Trump threatened China with tariffs of 60% or higher.