“Even if we only walk, we are faster than others,” Surya says he says loudly. He is using a run-walk imagery to describe the situation of the Chinese economy compared to his rivals.
The businessman was selling real estate in China.
Nevertheless, he does not want to see his full name published as his business is not currently doing well. All have empty properties, and many apartments are still very high.
What about the future, what is next? Surya said, suggesting that everything will be fine. In its half -century, the salesman is expecting some signs of innovation from the government.
16th annual meeting of new champion
Chinese Prime Minister Lee Kiang is as optimistic as usual.
He is speaking at the “Summer Davos 2025” conference in Tianjin, organized by the World Economic Forum (WEF) in Switzerland and called official Annual meeting of new champion,
Around 1,700 participants from all over the world have traveled to the northern Chinese city and are listening with hope.
China reported an economic growth of 5.5% in the first quarter of this year. According to the Chinese premiere, the second quarter looks good.
But many people in China look at the government’s optimism with suspicion and like to save their money now.
Where have all the shopkeepers gone?
Walking through large shopping centers in Tianjin, it is impossible not to notice the empty empty. The demand for watches, jewelry and designer handbags is low, and customers are some more far away.
In the stylish showrooms of Chinese car manufacturers, most salespersons look bored as they stare at their mobile phone.
The latest Nio electric car sits alone in its showroom. Due to no customer in sight, it does not seem that anyone wants to give it a test drive.
Even at a nearby hair salon, a normal week day is decreasing. There are four stylists, but not a single customer.
Should be expected to be insolvency
Lack of spending at home is particularly difficult for Chinese vehicle manufacturers. Competition for market share is terrible, and due to this prices are in free fall. Some brand-use vehicles are boulered in car prices used, a practice called “zero mileage”.
“This is good for consumers, they are receiving cars at very low prices and are very advanced, competitive cars,” says the Asia Pacific Killian Evils for the Dicra Group, says a vehicle test and inspection company that is still doing good business in China with testing for the automotive industry.
“At the same time the company has a profit margin, bee erased,” Evils told DW.
The consolidation seems unavoidable, and Evils is not the only one who is confident about it. “Only the strongest and healthy survives,” Heer said.
China can reduce the situation by exporting more vehicles in Europe and can reduce the situation, but it will depart a lot on whether Europeans allow search imports and do not proceed.
Are the days of exports counted?
Nevertheless, many experts do not think that the strong dependence of the Chinese economy on exports is a webbal model for the future.
“China is really reality that the export-demonet development age is over and of course, it is still struggling with excessively and additional production,” says Diana Choyalva, a senior partner at the Center for China Analysis, the Center for China Analysis at the Asia Society Policy Institute.
Choyalva, who specializes in China’s economy and politics, is confident that domestic consumption should be sunny to continue the economy.
Can a strong focus help?
At the same time, China wants to become the leader of a global market in more and more industries, and visitors have been shown to select companies around Tianjin. The city is home to one of the busiest ports in the world and is focusing on technology such as robotics among other things.
A search company is a Siyasun robot factory, using advertising slogans “to improve the world by robotics.” The company sells its industrial robots in 40 countries around the world, and its product range, which includes robots used in the nuclear industry.
However, its latest models are not on performance. Instead, they are only showing standard machines used by the motor vehicle industry.
Nevertheless, the development capacity is very large, a company production manager told DW. “Soon robots want to build robot themele,” he is excited. “Who people want?”
Skipping restaurant for picnic
The banks of the river, which flows via Tianjin, sits many sugar and enjoy the picnic. Children are accompanied by family, elderly, and many young people. Some are dancing.
At the same time, many restaurants around the city are half-stubborn, such as shopping malls and showrooms at the beginning of the day.
Perhaps the restaurants are very high. Or maybe now many Chinese consumers will save their money for the rainy day. Whatever is, their homemade food is probably as delicious as they will meet in a sit-down restaurant.
This article was original in German.
