An economist stated that there is no way to prevent the economy from continuing to decline. Newly released official data from the Chinese communist regime’s National Bureau of Statistics for the month of May showed a slowdown in China’s industrial growth rate, as well as decreases in investments in infrastructure, manufacturing, and real estate. Despite the authorities’ attempts to paint a positive picture of the economy, economists have pointed out that China’s heavy state intervention has turned it into a “zombie economy.” Wang Guo-chen, an assistant researcher, described China’s economy as a “zombie economy” that only moves when pushed by state power. He explained that without government support, the economy would come to a halt. The recent data also indicated a decline in three major areas of China’s economy, raising concerns about the accuracy of the CCP’s official numbers. Economists predicted a further decline in the economy, with structural problems worsening and no effective policies in place to prevent it.
According to Wu, the CCP’s current measures are not focused on saving the economy but on ensuring political stability in case of an economic crisis.
He added, “This includes managing potential social protests and resistance.”
This report was contributed to by Huang Yun and Yi Ru.
