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Fears of unemployment causing social unrest, Beijing re-ignites street vendor economy, official media denies "disorder"
(17 Oct) The boom of the street vendor economy first advocated by Chinese Premier Li Keqiang in June 2020 quickly waned, with government officials immediately reproaching the method as impractical.
//Li had never encouraged “disorderly vending”. Government officials were deliberately tarnishing his name, rather.
//ever since Li’s advocacy for the “street vendor economy”, he had come under fire by state media. However, similar policies for the street vendor economy were maintained at the local level and included night markets and small storefronts.
//Economist Law Ka-chung indicated that the phenomenon of street-vending was proof of China’s struggling economy.
//He believed that “street-vending” would do little to help the Chinese economy because it was not part of its formal economy; there is no taxation or official records [of the businesses].
Full Translation Here: Hong Kong Echo
Source: Apple Daily
#Chinese #Economy #Struggle #StreetVendor #LiKeqiang #Premier
Fears of unemployment causing social unrest, Beijing re-ignites street vendor economy, official media denies "disorder"
(17 Oct) The boom of the street vendor economy first advocated by Chinese Premier Li Keqiang in June 2020 quickly waned, with government officials immediately reproaching the method as impractical.
//Li had never encouraged “disorderly vending”. Government officials were deliberately tarnishing his name, rather.
//ever since Li’s advocacy for the “street vendor economy”, he had come under fire by state media. However, similar policies for the street vendor economy were maintained at the local level and included night markets and small storefronts.
//Economist Law Ka-chung indicated that the phenomenon of street-vending was proof of China’s struggling economy.
//He believed that “street-vending” would do little to help the Chinese economy because it was not part of its formal economy; there is no taxation or official records [of the businesses].
Full Translation Here: Hong Kong Echo
Source: Apple Daily
#Chinese #Economy #Struggle #StreetVendor #LiKeqiang #Premier