Domestic spending is trying slowly to recover, but it's still a long way from where it would be if China had not pursued this zero-covid policy. If it hadn't had a pandemic to battle, confidence has been dented and people are a little bit cautious about splashing out even now that they have an opportunity to do so. The rest of the world is battling a slowdown, partly engineered by central banks, who were worried about inflation. So that has dented demand in some of China's big markets.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode