China's consumption is sluggish and the real estate sector has collapsed. Nevertheless, Xi Jinping stoically sticks to restructuring the economy according to his own ideas.
The promotion of “new productive forces” desired by Xi himself is unlikely to lead to economic bubbles locally. For Xi Jinping, national security takes precedence - even before economic development. The party is Xi, and for him something completely different is in the foreground: “National security” is more important to the head of state than the economy.