Xi Jinping Rallies Party and Entrepreneurs for Economic Reform

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Source: The Economist
Xi Jinping Rallies Party and Entrepreneurs for Economic Reform
Photo: The Economist
TL;DR Summary

Xi Jinping is concerned about the decline in Chinese startups achieving unicorn status and is seeking to revive entrepreneurial spirit to boost economic growth and technological self-sufficiency. Recent figures show a significant slowdown in GDP growth, adding to the urgency. Despite previously leading in unicorn creation, China has seen a sharp decline in new billion-dollar startups compared to the U.S. and previous years.

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