New Delhi, July 1 (IANS) Nearly two decades after former premier Wen Jiabao lamented that the Chinese economy was excessively dependent on export-led growth, the problem has become even worse, according to a new report.China’s efforts to rebalance its economy have been an absolute failure, states the article by economist Stephen S. Roach in Malaysia’s The Star news website. “The lack of meaningful consumer-led rebalancing implies increased reliance on these time-worn sources of economic ac…
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New Delhi, June 29 (IANS) China’s retail sales fell 0.6 per cent year‑on‑year in May 2026 after a weak April, marking the first monthly decline in three and a half years, Stephen Roach, former Chief Economist and Asia Chair, Morgan Stanley, wrote on his Substack account, arguing that the country’s prolonged effort to steer toward consumer‑led growth has failed.Roach said that the failed growth model led to Chinese state, state‑owned enterprises and private firms capturing a disproporti…