Despite a strong push in so-called advanced manufacturing, which includes solar panels, lithium batteries and electric vehicles EV, these sectors will not be able to solve China’s structural problems in the short term, economists said during a discussion at HSBC’s Global Investment Summit on April 8 in Hong Kong.
Keyu Jin, Chinese economist and associate professor of economics at London School of Economics, said “China has now moved upward in global value chains through green tech and advanced manufacturing. But that is a long-term plan, which does not address short-term demand issue that the country faces.”
Nicholas Lardy, non-resident senior fellow at Peterson Institute, emphasised...
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