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Stephen Roach, Once Claiming 'HK Is Over', Concerned CN Strategy to Boost Econ by Consumption May Not Succeed
Recommend 1 Positive 1 Negative 0 2025/03/27 03:57 GMT
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Stephen Roach, former Morgan Stanley Asia Chairman who once declared the "Hong Kong is over", stated that China’s strategy of relying on domestic demand to hold up the economy may not be working, as the country has yet to address public concerns about its social security system. There is skepticism around whether China’s proposed policies will translate into concrete actions, leading to a lack of confidence in a consumption recovery, he said. As a result, households are more inclined to save rather than spend, especially due to worries about healthcare and retirement.
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