China projects ‘outward confidence’ amid economic anxiety, US congressional panel says

Congressional advisers cite AI optimism but question Beijing’s openness after being denied access to Hangzhou tech firms A US congressional advisory body on China said the country is projecting an image of confidence even as concerns about its economy and future growth remain beneath the surface, following a week-long visit to Beijing, Shanghai and Hangzhou in July. “I think there’s an outward confidence,” USCC chairman Randy Shriver said. “There’s a lot of anxiety about the state of the economy and economic performance and potential for growth.” Shriver, a former assistant secretary of defence for Indo-Pacific security affairs, said it was important to observe conditions in China first-hand, noting that the commission’s last official visit was in 2019. “It’s one thing to hear and read about ‘ghost cities,’” he said. “It’s another thing to take the high-speed rail and see these enormous developments with apartment building on top of apartment building, and not a single light is on.” Commissioner Chris Slevin said China’s confidence was especially apparent in conversations about artificial intelligence.

Read the full article at the source →