China's Two Sessions: Tech & Policy Tweaks for Future

0:00Here's more world news from March 11th. China's National People's Congress, the country's top political gathering, wraps up on Thursday. Known as part of the two sessions with the advisory group, it approves laws and budgets, but mainly rubber stamps decisions from top communist party. Leaders. Still, the world watches closely for signals on the second largest economies direction. Earlier this week, leaders highlighted stability amid global uncertainty from US politics and Middle East complex. President Xi Jinping's team is urging more consumer spending to steady growth, while pushing tech supremacy in artificial intelligence, robots, and renewables to cut reliance on foreign oil. Meanwhile, the new five-year plan shifts from property booms to innovation in semiconductors, biotech, and quantum tech. Officials set a growth target of 4.5 to 5%, the lowest since 1991, with plans to borrow more for infrastructure, and welfare.

1:02Analysts welcome pledges to boost demand through child care expansion, elder care, paid leave, and small pension raises of about $3 a month, for some. But reactions are mixed with social media mocking the tiny increases and many doubting if vague details will overcome saving habits, youth, unemployment, and falling home values. For now, Beijing bets tech and policy tweaks will drive the future, though success depends on lifting household confidence and handling trade, frictions. The controlled pageantry of the sessions contrast sharply with global volatility. Thanks to our sponsor for helping bring you this episode, it looks like a pillow. It sounds like headphones, bill for comfort, and sound, S-O-L-L-I-SOLY-PILLOW.com.