Source: China – South China Morning PostIn economic policy documents, Beijing’s leadership used the term “involution”, neijuan in Chinese, in efforts to combat excessive competition in market segments such as photovoltaics and lithium batteries.
The authorities, who criticised the domestic dumping of products, have directed local governments to behave and stop offering unreasonable incentives that would lure enterprises into highly competitive segments.
The potential worst-case scenario for continued involution would be to drive many…Read More