China is in deflation mode. Estate crisis shrinks the domestic residents' expenditure confidience. Everyone is saving money rather than spending. This turns into a vicious cycle, everyone spends less, adding with the AI+automation, jobs and earnings become less, which makes everyone spend further less.
The government has come up with lots of policys, but all were not that effective as expected. Meanwhile, the gap between rich & poor remain large. Everyone is pessimistic about the economy future.
The country's tech is leading the world and fast advancing, but majority of 1.4 billion is not work in the tech sector, they are the ones to be replaced by AI & robots. They're left behind by the great era. They can only depends on the normal service sector. But if the domestic consumer spending can't go up, the service sector cannot absorb the largest number of working-age population, China is doomed. Countless problems will come along as unemployment ratio keeps going up.
