Zhou Jiangong, an analyst on China’s economic, political and foreign affairs, reported that China’s weak consumption causes the unbalanced development. From Asia Times Online:
Investments, consumption and exports are the troika pulling along China’s economy. But for a long time, growth in domestic consumption has lagged far behind the other two, so much so that it is said the troika consists of two strong horses and a weak donkey (consumption), resulting in so-called “unbalanced development”.
The latest economic statistics released by the National Bureau of Statistics (NBS) on Thursday show the problem is, if not worse, far from being solved….[Full Text]
