Analysis-China has no pain-free solutions for its slowing economy
BEIJING/HONG KONG - Erin Yao would like to take street dance classes and travel, activities she could not do during three years of COVID-19 restrictions in China.
But while faltering growth in the world's No.2 economy has given rebalancing a new sense of urgency, transferring economic resources to households would require difficult decisions that would cause even more near-term pain. Policymakers have vowed to boost credit to firms, but businesses are ultimately constrained by frail domestic demand.
Financial uncertainty is also discouraging her from having children, she added. China's population is ageing and shrinking, especially in the 20-40 bracket, when people usually reach lifetime consumption peak.Over the past month, various government departments have announced dozens of measures to boost consumption, heeding calls from a key Communist Party leadership meeting.
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