China's massive stimulus is missing a key ingredient: a way to revive the nation's consumers

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, delivers an important speech at a meeting celebrating the 75th founding anniversary of the Chinese People's Political Consultative Conference CPPCC in Beijing, capital of China, Sept. 20, 2024. (Photo by Xie Huanchi/Xinhua via Getty Images)

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• China has announced a slew of supportive policies to give its economy a boost.