Apr 11, 2021 11:03 PM (GMT+8) · EqualOcean
Cai Fang, member of the central bank's monetary policy committee, said today at the global economic confidence index conference of financial think tank that the uncoordinated pace of recovery between China and the United States may have negative spillover effects. China's demand side recovery lags behind supply side recovery, and sluggish consumption may become a long-term risk. Cai Fang predicts that China's total population will reach its peak before 2025, which will lead to a decline in the potential growth rate and have an adverse impact on consumer demand. Cai Fang believes that there is no other way out except to cultivate middle-income groups. If we can not guide the economy back to the right track through the large-scale recovery of consumption, it may lead to the early realization of the long-term slow trend variable (population aging problem).

This text is a result of machine translation.