Hinrich Foundation：2025年特朗普时代中国的消费困境报告（英文版）

China’s imbalanced economic structure has been notorious for its low domestic consumption and overreliance on export and investment. Despite repeated stimulus efforts by the government, domestic consumption has not significantly expanded as intended. This disconnect raises questions about the effectiveness of stimulus strategies in the current economic context, where structural and psychological barriers are proving more influential than monetary or fiscal incentives. Despite decent growth ra