16/05/2025 08:33 pm MYT
China today is the world’s most exciting, dynamic, and successful economy. What drove China’s phenomenal growth in the past few years? In the previous parts of China Today, we examined her economic structure, sources of growth, the current conditions, and her future.
Who Is Having Consumer Confidence Crisis ?
When the Covid-19 pandemic broke out, China’s consumer confidence index dropped slightly from 126.6 in Dec 2019 to 112.6 in Jun 2020. As the pandemic was quickly brought under control, consumer confidence staged a V-shape recovery and surpassed the previous peak to reach 127 in Feb 2021. However, as the omicron variant spread across China in 2022, with lockdowns being imposed erratically, economic activities were severely affected. Making matters worse was the fact that the Chinese government began cracking down on the overly-leveraged property developers in 2021, curtailing construction activity. Consequently, consumer confidence fell off the cliff in Apr 2022, dipping below 10
Note from Publisher
At the end of 2024, there were 38.7 mln registered vehicles in Malaysia. In comparison, Malaysia’s population stood at just 34.1 mln. No wonder traffic congestion is a serious problem not just in the Klang Valley, but all over the country. A major reason why Malaysia has so many cars is due to its weak public transport system, causing people to shy away from them. The public transport usage rate in Malaysia is a low 25%. The comparative usage rates in Singapore, Seoul, and Tokyo are 67%, 63%, and 73% respectively.
Expanding domestic connectivity networks, increasing the frequency of trips, speed of transport and their reliability are among the urgent tasks the Ministry of Transportation needs to address to bring up the country’s public transport usage rate. i Capital has written many times that traffic congestion has cost the Malaysian economy dearly and urged the Malaysian government to focus on building railway networks to connect all major cities and towns within Malaysia.
Tan Teng Boo has even repeatedly asked the Malaysian government to abandon the KL-Singapore high-speed rail project and to instead urgently focus on connectivity with Malaysia. If his sound advice is implemented, Malaysia’s public transport usage rate will surely catch up with that of Singapore, Seoul, and Tokyo. The entire Malaysian economy will benefit as a result. Balik kampung, going for trips during school holidays and rushing back for Chinese New Year reunion dinners need not be such a torture.
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