"Xi Urges Patience as China's Communist Party Tackles Economic Slump"

Chinese leader Xi Jinping has called for patience as the ruling Communist Party attempts to reverse a deepening economic slump. Xi criticized Western countries for their materialism and "spiritual poverty," while emphasizing the need for China to focus on long-term goals such as improving education, healthcare, and food supplies for its population. The government's efforts to support struggling entrepreneurs have not yet yielded positive results, as data shows further weakening of consumer and factory activity. Xi's speech also highlighted the importance of narrowing China's wealth gap and regulating the development of capital, but no new initiatives were announced.