China has responded to sensational claims from Newsweek that Shanghai has turned into a “ghost town,” pointing out the absurdity of such a portrayal of one of the world’s most populous cities. Chinese social media users have expressed shock at the photographs cited in the article, which they see as part of a broader misinformation campaign by Western officials and media outlets. China’s economy is facing risks and challenges but remains on a steady recovery path.
Global Times reporters visited various cities across China to assess the country’s economy based on its three primary growth drivers: consumption, investment, and exports. They observed bustling night markets, busy shopping malls, and crowded scenic spots, demonstrating the vitality of consumption—a key driver of the Chinese economy.
The sensational Newsweek article, which used images posted on social media platform X (formerly Twitter), was widely criticized for misrepresenting China’s economic situation. In contrast, on-the-ground observations reveal strong consumer activity, suggesting that China’s economy is not on the brink of collapse, as some Western officials and media outlets claim.
Official data supports these observations. In the first half of 2023, Shanghai experienced significant domestic tourism growth and tourism revenue. Foreign businesses continue to invest in Shanghai, with a notable increase in new foreign-invested enterprises.
Similar vitality is observed in other Chinese cities, with night markets bustling, shops full of consumers, and strong box office takings. Analysts point out that these scenes translate into robust figures, signifying a rebound in consumption after pandemic-related disruptions.
Despite Western portrayals of China’s economy, foreign businesses, including those from the West, continue to invest and expand in China. The vast potential of China’s consumer market, with its 1.4 billion people, is attractive to global businesses.
China’s policymakers have introduced measures to bolster domestic consumption, including support for real estate and auto sales. Plans to build a unified national market aim to further unleash the market’s potential and drive sustained economic growth.
Overall, China’s economy shows signs of recovery and growth, countering the negative portrayals circulating in Western media.