Xi Jinping Warns of "Self-Defeating" Competition in Chinese Economy

Chinese President Xi Jinping has warned that intense internal competition is harming the national economy. He described this dynamic as "cut-throat" and self-defeating. The comments highlight a significant policy concern in Beijing. Officials now believe restraining this competition is essential for economic health. This concern persists despite rising productivity and strong export figures. The warning suggests a focus on the quality, not just the scale, of China's growth. The government is signaling a shift in economic priorities. Curbing wasteful domestic rivalry is now a key objective to ensure long-term stability.