A think tank rejects the “baseless” rhetoric about economic pessimism in China

The “China Peak” rhetoric is baseless, a report by a Chinese think tank published on Friday concludes. The theory of the “collapse of China” is also without foundation.

The “Peak China” theory refers to the belief that China has reached its peak in terms of economic growth and global influence. Therefore, the country will experience a decline in the future.

Renmin University’s Chongyang Institute of Financial Studies argues in the report that the research method employed by the “Peaking China” theorists has major flaws, including gaps in reasoning and weak research supporting solid conclusions.

The “China Peak” theory claims that slowing economic growth in the country means it has reached its peak. However, the institute argues that this is a natural circumstance that follows the evolution of economic development. Based on economic logic, the slowdown expresses neither an absolute nor a relative peak.

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The report also rebutted the claim that China’s economic growth will be suppressed by US restrictions on technology exports, arguing that China has made great strides in basic research and cutting-edge technologies despite US suppression.

The “Peak China” theory refers to the belief that China has reached its peak in terms of economic growth and global influence. Therefore, the country will experience a decline in the future.

The consequence of suppressing science and technology will inevitably hurt both sides, causing unbearable calamities for China and the United States, the report said, adding that a complete technological decoupling between the two countries is unlikely.

Chongyang analysts predict that China’s economic rise will continue and surpass the size of the United States by 2030. Driven by the four engines of technological advancement, structural upgrading, urban development, and further reform and opening-up, the Chinese economy will embark on at a medium to high growth rate, faster than the world average and the US economy.

Article republished from the Chinese state media CGTN within the framework of an agreement between both parties to share content. Link to the original article:https://news.cgtn.com/news/2023-05-19/Think-tank-rebukes-groundless-China-economic-gloom-rhetoric-1jWdGk9KCME/index.html

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