China’s President Xi pushing to beat US in GDP growth despite covid lockdowns – WSJ

Dhwani Mehta FXStreet

The Wall Street Journal (WSJ) carried a story on Tuesday, citing people familiar with the discussions that “Chinese President Xi Jinping has told officials to ensure that the country’s economic growth outpaces the US.’s this year.”

Additional quotes

“In meetings over the past few weeks, Mr. Xi told senior economic and financial officials that ensuring that the economy is stable and growing is important because it is critical to show that China’s one-party system is a superior alternative to Western liberal democracy, and that the US is declining both politically and economically.”

“In response to Mr. Xi’s call to rev up growth, Chinese government agencies are discussing plans to accelerate big construction projects, especially in the manufacturing, technology, energy and food sectors, as well as to issue coupons to individuals to spur consumer spending.”

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