In response to China's economic downturn, the Chinese Communist Party has introduced various stimulus measures, yet doubts persist regarding their effectiveness. Key economic models have emerged in discussions about potential recovery paths:

1. **Return to Hu-Wen Model**: Some economists propose a massive 10 trillion yuan infrastructure plan to revive land financing, similar to past strategies. However, challenges like diminishing returns on infrastructure investment must be considered.

2. **Boosting Domestic Consumption**: Others advocate for policies aimed at enhancing social welfare and consumer spending, addressing inadequate social security and low disposable income levels to stimulate economic growth.

3. **Xi Jinping’s New Quality Productivity Model**: This strategy focuses on advanced manufacturing but risks fostering overcapacity and mismatches in supply and demand.

Overall, enhancing domestic consumption appears to be the most promising solution for revitalizing China’s economy, moving beyond reliance on infrastructure and exports.

Economic Growth: Exploring Diverse Approaches with Consumption as the Cornerstone for Recovery

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