China's Industrial Heartland: Reviving, Recovering, and Rebounding
China's industrial heartland in the northeast, known for its heavy industry, is facing economic challenges including a slowing economy, an aging population, and high levels of debt. The central government is focusing on increasing productivity and efficiency in the region's factories through public investment and digital technology. However, economists argue that more measures to boost consumer confidence, such as expanded unemployment benefits and pensions, are needed. The government is also exploring opportunities to sell more goods to Russia. Despite efforts to stimulate the economy, consumer spending remains weak, with retail sales per person significantly lower than in other vibrant provinces in China.