Joseph Wu cites economists' advice: 'Get away from China while you still can'

With major economic data in China, such as industrial value-added and retail sales of consumer goods, weakening recently, National Security Council Secretary-General Joseph Wu said today that he had consulted several prominent economists on the outlook for the Chinese economy. They bluntly stated that what China's central planned economy lacks most is "hope," and advised: "Get away from China while you still can."

China's major economic data for April, including industrial value-added above a designated size and total retail sales of consumer goods, have weakened. A report from China's National Institution for Finance and Development indicated that the growth rate of household and individual debt in China in the first quarter of this year was negative 0.4%, the first negative growth since the third quarter of 1995.

Wu posted on the social media platform X today that after consulting several prominent economists, they stated bluntly that in China's central planned economy, there is one thing that is most lacking, and that is "hope"; and the economists' advice was, "Get away from China while you still can."

Wu also attached four charts regarding China's economic growth and forecasts, "Core Engines of China's Economic Growth: GDP Growth and Wage Growth," "Structural Dynamics of China's Economy: Foreign Direct Investment and Internal Consumer Confidence," and China's economic deflation.