This week has seen a large influx of visitors honoring the late Chairman Mao at this important Chinese pilgrimage site.
Today marks the 75th anniversary of the People’s Republic of China’s (PRC) founding in the nation.
China is confronting many difficulties even though it has made great progress in bringing millions of people out of poverty, developing the second-biggest economy in the world, and challenging the United States on the international scene.
Mrs. Zhou, a retired worker, laments that living has grown so expensive that she is frightened to get sick: “I sincerely wish that our country can be wealthy and powerful,
A financial boost to the shoulder
It’s no secret that China’s economy has had difficulty recovering to its previous double-digit growth period since the severe COVID limitations were eased.
There was no post-pandemic surge in consumer spending; if anything, many Chinese have remained apprehensive about the country’s economic future, prudently saving money rather than spending it.
The government didn’t seem eager to unveil a sizable economic stimulus plan until last week.
It has now fully committed to a daring new plan that involves increasing the stock market and lowering interest rates on both new and existing mortgages.
