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Power Shift
China Observer
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Comments by "Power Shift" (@powershift2024) on "Why Would TikTok Rather Shut Down Than Sell? Major Players Exposed" video.
China is plagued by a fundamental imbalance in its economy: It has relied disproportionately on government spending and commercial investment to fuel economic development (and a debt to GDP ratio of well over 300%), rather than consumer spending, which would be a sign of more organic and sustainable economic growth. Their commercial investment was also massively assisted by foreign investment and that's now all but dissappeared. That leaves gov't spending left to fuel their growth. Li Keqiang explained that this was no longer feasible as far back as 2013. Good luck Xi!
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