RE: FY25-FY271 Sep 2024 17:08
This dynamic has been destabilizing the global market with a flood of cheap Chinese exports creating a sharp backlash in the form of stiff tariffs. The domestic market is also marked by overproduction and cutthroat price competition that risks sending the economy into deflation, Liu warned.
"Analogously, although China’s vibrant e-commerce sector might suggest a plethora of consumer choices, in reality, major platforms such as Alibaba, Pinduoduo, and Shein compete fiercely to sell the same commoditized products," she said. "In other words, the illusion of consumer choice masks a domestic market that is overwhelmingly shaped by the state’s industrial priorities rather than by individual preferences."