Tea, caution: China's plans to fix its economy don't go far enough

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Drum Tower

2025-03-19

38 分钟
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单集简介 ...

3,000 delegates, two cups of tea for Xi Jinping and lots of polite applause. At the National People's Congress, China unveiled its plans for steering its economy through 2025 with choreographed calm. In fact, there is much to be unsettled about. The world's second-largest economy is in the doldrums. Chinese consumer confidence is yet to recover from the covid lockdowns and the property market continues to languish. While Donald Trump's threat of 60% tariffs is yet to transpire, his trade war is stoking uncertainty. Against this backdrop, an economic recovery seems a long way off.  Alice Su, The Economist's senior China correspondent, and Simon Cox, our China economics editor, ask: what is the Communist Party's strategy to bring the Chinese economy back on track? And is China ready for the global economic turmoil ahead? Transcripts of our podcasts are available via economist.com/podcasts. Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+. 
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单集文稿 ...

  • The Economist.

  • Every March, thousands of parliamentary delegates from across China gather in Beijing

  • for the biggest political meetings of the year: the Two Sessions.

  • They sit in the Great Hall of the People and vote—always in near unanimous approval—

  • on the government’s plans for the coming year.

  • It’s a predictable affair, but it offers a sense of how China will navigate the return

  • of Donald Trump and a new era of tariffs and turmoil.

  • This year, all eyes are on the Chinese Communist Party's plans to boost confidence in its economy.

  • And it won't be easy.

  • I'm Alice Su, the Economist's Senior China Correspondent.

  • I'm joined by Simon Cox, our China Economics Editor.

  • This week, we're asking: what is the Communist Party's strategy to bring China's economy back on track?

  • And is China ready for global economic turmoil ahead?

  • This is Drum Tower.

  • From The Economist.

  • Hello, Simon.

  • Nice to see you.

  • Hi, Alice.

  • Great to be here.

  • How are you doing?