Having acknowledged that its need to correct the economy’s supply-demand imbalance, Beijing nonetheless has chosen policies that will exacerbate the problem.
A drone view shows electric vehicles (EV) for export and containers sitting at a port in Shanghai, China, on April 13, 2025. China Daily via Reuters
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Commentary
Beijing’s National Development and Reform Commission (NDRC) acknowledges the economy’s imbalances. China suffers from supply capacities far in excess of domestic needs or demands, leaving the country uncomfortably dependent on exports.
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
