Despite the cloudy outlook for the Chinese economy, the administration of President Xi Jinping has been slow to act. The government should quickly introduce policies that tap into the vitality of the private sector and put the economy back on a growth trajectory.
The Nikkei View
Private-sector vitality is needed to revive China's economy
Xi must not prioritize party dominance over employment and innovation
President Xi Jinping, center, and other Chinese Communist Party leaders discussed economic priorities for 2024 at the two-day annual Central Economic Work Conference in mid-December. The market speculates that Xi is cautious about government spending measures. (Xinhua/Kyodo)
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