China’s inward-facing ‘dual circulation’ strategy leaves many wondering where domestic demand will come from

Jack Wang, a former overseas manager for Huawei, decided to quit his job in 2019 after years of being separated from his family in Henan province. He had big plans to build an online business there, selling local farm products such as honey and sesame to urban consumers willing to pay a bit more for better-quality goods.One year later, having burned through 300,000 yuan (US$44,000), Wang says he made a mistake in gauging the demand and spending power of Chinese consumers.“I overestimated…

from South China Morning Post https://www.scmp.com/economy/china-economy/article/3100482/chinas-inward-facing-dual-circulation-strategy-leaves-many