June 16, 2024

Bloomberg New Economy: Xi Jinping’s ‘New Productive Forces’ Don’t Add Up

The Chinese Communist Party loves slogans, as this newsletter has observed before. In the coming week’s annual convocation of China’s legislature, watch for repeated endorsements of “new productive forces.”

In the run-up to the National People’s Congress (NPC), the party’s Politburo declared, “it is imperative to boost the endeavors to modernize the industrial system, and accelerate the development of new productive forces.” State-run news agency Xinhua touted that entrepreneurs are eyeing the theme with enthusiasm, that the “forces” are “spurring revival of northeast China,” and even how “green productive forces” are emerging.

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