In a recent interview with CGTN, Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsinghua University, shared an optimistic outlook on China’s economic future. Contrary to speculations of an imminent economic peak, Li highlighted the nation’s strong economic fundamentals as indicators of continued growth.
Li pointed to China’s robust savings rate of 45 percent, which he described as “ripe for investment.” This high level of savings provides a substantial resource base for funding economic initiatives and infrastructure projects, fueling further development.
Emphasizing the critical role of innovation, Li underscored China’s extensive research and development capabilities. With the largest R&D workforce in the world, China is well-positioned to advance technological breakthroughs and enhance productivity across various sectors.
Additionally, Li noted the unparalleled size of China’s consumer market. The vast domestic demand offers significant opportunities for businesses and investors, both domestic and international, to tap into a growing middle class with increasing purchasing power.
Taking these factors into account, Li projected a promising growth rate for China’s gross domestic product (GDP), estimating it to be in the range of 5.7 to 5.8 percent in 2024. This forecast reflects confidence in the country’s ability to sustain momentum despite global economic uncertainties.
Li’s insights contribute to a narrative of optimism for China’s economic trajectory, suggesting that the nation remains a vital engine of growth in the global economy. His perspective offers valuable considerations for businesses, investors, and policymakers observing China’s economic developments.
Reference(s):
cgtn.com
