Stephen McDonnell

I've just come from the great hall of the people and it'd be crazy to be ignoring the elephant in the room. I think every Chinese person who heard that speech would know what he's referring to there. I mean, why is this especially a problem for China? I mean, just have a look at the Chinese economy. Huge areas where they've got to deal with these problems.

I've just come from the great hall of the people and it'd be crazy to be ignoring the elephant in the room. I think every Chinese person who heard that speech would know what he's referring to there. I mean, why is this especially a problem for China? I mean, just have a look at the Chinese economy. Huge areas where they've got to deal with these problems.

The ongoing property crisis, youth unemployment, local government debt, sluggish consumer confidence. Chinese people don't have enough confidence in the economy, saving too much, not spending enough. Now, the areas where the economy is doing pretty well, electric vehicles, solar panels, new tech. People all know about DeepSeek and TikTok. This is all export-driven stuff.

The ongoing property crisis, youth unemployment, local government debt, sluggish consumer confidence. Chinese people don't have enough confidence in the economy, saving too much, not spending enough. Now, the areas where the economy is doing pretty well, electric vehicles, solar panels, new tech. People all know about DeepSeek and TikTok. This is all export-driven stuff.

And so what the Chinese government doesn't need now is a renewed trade war with the US, or anyone else for that matter, when these bright light areas of the economy are reliant on exports. And yet they're still saying they're going to achieve around 5% growth this year.

And so what the Chinese government doesn't need now is a renewed trade war with the US, or anyone else for that matter, when these bright light areas of the economy are reliant on exports. And yet they're still saying they're going to achieve around 5% growth this year.

A lot of people would be scratching their heads looking at where the world's going at the moment with the way the Trump administration is throwing trade relations everywhere into chaos and wonder how can the Chinese government be this confident. I mean, for example... One thing it really needs to do is to get domestic consumption going.

A lot of people would be scratching their heads looking at where the world's going at the moment with the way the Trump administration is throwing trade relations everywhere into chaos and wonder how can the Chinese government be this confident. I mean, for example... One thing it really needs to do is to get domestic consumption going.

Interestingly, and we look at the tea leaves here in China, the word consumption was mentioned 31 times in the speech today as opposed to 21 times last year. Now, you might think, well, why does that matter? Well, it shows that this problem of building up greater consumer confidence is at the forefront of the minds of the Communist Party.

Interestingly, and we look at the tea leaves here in China, the word consumption was mentioned 31 times in the speech today as opposed to 21 times last year. Now, you might think, well, why does that matter? Well, it shows that this problem of building up greater consumer confidence is at the forefront of the minds of the Communist Party.

And, you know, a decade ago, they said there was going to be this shift towards consumerism. an economy reliant much more on domestic consumer confidence, domestic consumer spending. But it hasn't panned out that way.

And, you know, a decade ago, they said there was going to be this shift towards consumerism. an economy reliant much more on domestic consumer confidence, domestic consumer spending. But it hasn't panned out that way.

To attempt to encourage this, they've had financial incentives to switch out your old clapped-out car, to swap your old appliances for new ones, cash for clunkers, as it's being referred to. They're going to allow a greater proportion of the GDP to be caught up in debt, so the deficit-to-GDP ratio has gone up. and yet not really much change to China's social safety net provisions.

To attempt to encourage this, they've had financial incentives to switch out your old clapped-out car, to swap your old appliances for new ones, cash for clunkers, as it's being referred to. They're going to allow a greater proportion of the GDP to be caught up in debt, so the deficit-to-GDP ratio has gone up. and yet not really much change to China's social safety net provisions.

Many economists are saying the way to fix this is to put more money into the hands of ordinary households, and that way they'll spend some more. And yet really, this time round, not a lot on that front, and so there's still a lot more work to do.

Many economists are saying the way to fix this is to put more money into the hands of ordinary households, and that way they'll spend some more. And yet really, this time round, not a lot on that front, and so there's still a lot more work to do.

When they amputate a limb, they also cut nerves. And when you injure nerves, the chance of someone having pain that doesn't go away is much higher than when tissue is injured. And so hydro dissection involves using ultrasound to inject very high volumes of fluid. It could be local anesthetic, could involve steroid, saline, in this case, a sugar solution, and it breaks up scar tissue.

When they amputate a limb, they also cut nerves. And when you injure nerves, the chance of someone having pain that doesn't go away is much higher than when tissue is injured. And so hydro dissection involves using ultrasound to inject very high volumes of fluid. It could be local anesthetic, could involve steroid, saline, in this case, a sugar solution, and it breaks up scar tissue.

It can improve blood flow to the patient. scarred nerves that are not receiving blood flow. It could wash out if it's done early on calcifications that can form and be painful. It can stop these nerve endings from spontaneously firing and it can release them when they're scarred down.

It can improve blood flow to the patient. scarred nerves that are not receiving blood flow. It could wash out if it's done early on calcifications that can form and be painful. It can stop these nerve endings from spontaneously firing and it can release them when they're scarred down.