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China's Strategy to Tackle Overcapacity and Excessive Market Competition

share-iconThursday, January 09 comment-icon3 weeks ago 8 views
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China's Strategy to Tackle Overcapacity and Excessive Market Competition

Credited from: SCMP

  • China's economic growth has dramatically increased its GDP from $361 billion in 1990 to $17.8 trillion by 2023, lifting over 800 million people from poverty.
  • Challenges such as overcapacity and excessive competition have emerged, hindering innovation and sustainable growth.
  • Industries like electric vehicles and e-commerce face fierce price wars, eroding profit margins and stifling investment in R&D.
  • The government's resolution aims to implement reforms for a unified market, ensuring fair competition and addressing systemic issues.
  • China's approach will significantly influence international relations and business dynamics amid global tensions.

For the full article, visit South China Morning Post.

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