Former WTO chief economist: Boosting household spending confidence is key to spurring consumption in China
chinadaily.com.cn |
Updated: 2025-12-24 15:56
Share
Share - WeChat
Robert Koopman, former chief economist of the World Trade Organization, told China Perspective during a recent exclusive interview that China is now entering a new phase of economic development, one that requires consolidating past gains while shifting the composition of the economy toward services and higher household consumption.
From a longer-term perspective, he said, the key policy challenge lies in convincing households that it is acceptable to allocate a greater share of their regular income to consumption, including spending on durable goods, travel and services.
