Comments by "Peter Jacobsen" (@pjacobsen1000) on "China hits 2023 GDP targets, but still faces hurdles" video.

I'm guessing China will aim for 4.5% growth in 2024. Seems like a reasonable amount, and the state cannot continue to pump large amounts of money into the economy year after year. In 2023, the govt. told local govts. to issue bonds (which is debt) worth $660 billion, money to be used for investment into the economy. That's a lot of stimulus, especially if it needs to be done every year.
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That's because they can pump as much money as is needed into the economy to reach that growth target. Of course that's debt, which goes up, and up, and up.
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@herrwolf5184 Not really. The Chinese govt. prefers to boost the economy by investing in infrastructure and new technologies (by giving grants and cheap loans to tech companies and R&D labs). The American model is to boost consumption. Both can work, but there's no guarantee that either will always work. Personally, I think China should boost consumption by giving money to people. With 1.4 billion people, China should be a consumer economy rather than an export economy.
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@BabaYaga826 "No one can compete with USA." I don't think China is trying to compete with USA on debt, but they have no other choice. They have to increase debt year by year to keep the economy growing.
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@biboloxo Isn't that what I wrote? Seems to be what I wrote.
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