"What China needs to do (to state the blinkin' obvious) is to boost consumption -
which is also at record lows as a share of GDP compared with both advanced
economies and emerging ones."
Why would an economic attacker state, threatening to take over the top spot, so Peston and others say, and on the march, boost domestic consumption, when it can continue to feed on foreign high currency consumption?
Why?
No reason. Perhaps the Chinese have seen that not only is it not a Zero Sum Game, but going forward global competition is a negative sum game.
If you can punish foreign economies even more than yours suffers, by making them consume ever lower and lower down the food chain rather than producing, and also producing less and less, while keeping yours from consuming but still able to produce to do it, then you can take over foreign economies at some point.
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