, Columnist
China’s Economy Needs a Strategy, Not a Buzzword
Xi Jinping is counting on “new productive forces” to revive growth. He is likely to be disappointed.
Xi’s new pet plan won’t work better than the last one.
Photographer: Florence Lo—Pool/Getty Images
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The Chinese government appears to have settled on a prescription for its ailing economy. After ruling out a large-scale stimulus, leaders are betting “new quality productive forces” will revive China’s economic fortunes.
To non-Chinese ears, the slogan may lack a certain zing. More importantly, as a strategy it is almost certain to disappoint.