"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 emphasized the need to focus on long-term goals of improving education, healthcare, and food supplies for China's population instead of solely pursuing short-term material wealth. The government's efforts to support struggling entrepreneurs have not yet yielded positive results, as consumer and factory activity weakened further in July. Xi also criticized Western countries for their materialism and spiritual poverty, stating that they are increasingly facing troubles due to their pursuit of capital interests rather than serving the interests of the majority.