Boosting consumption and disposable income should take priority over restoring the nation’s fiscal reputation.
On July 16, China announced that in the second quarter of this year, its economy grew 3.2 percent, a remarkably strong showing at a time when much of the global economy is in tatters because of the ongoing effects of a global pandemic. The figure suggested that China, once again, could lead the global economy during an economic and financial crisis.
But a closer reading of the data points to a much darker picture, for China and the rest of the world — including signs that structural problem
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Bob Fu's relationship with China has gone through phases. First, he thought money would solve his problems there; then he joined protesters at Tiananmen Square, thinking the politics could change. In the end, he determined, only God could save China, and he's been fighting for religious freedom in China ever since he resettled in Texas. With his nonprofit, ChinaAid, prospering like never before, he says the U.S. is finally catching on.