Comment Re:Not much new (Score 1) 27
Increasing domestic consumption is only possible if people have more money to spend on consuming stuff. For a long time China relied on having low wages and manufacturing stuff for more prosperous countries. It's now changing, China developing a lot of home grown business where they're catching up and in many cases overtaking the West, but perhaps Chinese leadership thinks they're still not there yet. Also, in order to achieve higher prosperity needed to increase domestic consumption you pretty much have to live in the city, and some Chinese cities are already horribly overcrowded without even more people moving there from rural areas. There's also the demographic situation. Chinese birth rate is apparently around 1.0 now, lower than even Japan. It's hard to rely on increasing consumption from domestic population when that population may well start shrinking soon. Those are just my guesses, actual reasoning from the leadership may rely on completely different considerations.