China's Economic Slowdown: No Easy Fixes

China's economic growth model, which heavily relies on investment in property, infrastructure, and industry, has hindered the empowerment of consumers to earn and spend more. As the country's economy slows down, there is a growing urgency to rebalance by transferring economic resources to households. However, this would require difficult decisions that could cause short-term pain, such as a decline in the share of businesses or the government sector. Boosting consumer spending would also require addressing insecurities and improving the social safety net. Various government measures have been announced to boost consumption, but many individuals and businesses remain unenthused. Proposals for demand-side measures include better public services, higher social benefits, and giving workers more bargaining power, but the question of who pays remains a challenge.