China Unveils Underwhelming Economic Plan Amid Slowing Growth and Geopolitical Tensions

China outlined a new economic plan to boost sluggish growth, but experts say it lacks bold reforms needed to fix debt and consumer issues.

China achieved past growth through state-guided capitalism, but now faces economic stagnation, debt, and dampened consumer spending.

The plan sets a 5% GDP growth target and aims to shift focus to innovation and tech, but lacks details on reforms.

Recommended reforms include overhauling local finances, directing financing to private firms, and strengthening the social safety net.

Geopolitical tensions with the US could lead to more economic brinkmanship as China ramps up manufacturing.