Core Viewpoint - The article emphasizes the need for income distribution reform and welfare system construction to alleviate household financial risks, thereby stimulating real consumption and investment willingness as a fundamental path for economic growth [4][6][24]. Group 1: Economic Challenges and Reforms - The concept of "anti-involution" signifies a restructuring attempt of institutional design and social ecology, addressing issues like low-level competition and unfair practices [4][6]. - Current economic challenges in China include low consumer willingness and insufficient investment motivation, necessitating a focus on household financial stability and risk resilience [5][6][12]. - The historical reliance on export-driven growth has suppressed wage and consumption growth, leading to a conservative consumption trend and limited domestic demand [7][11][24]. Group 2: Historical Context and Economic Development - The analysis framework includes three historical long cycles: globalization, hegemonic shifts, and technological revolutions, which collectively influence economic dynamics [7][8]. - China's reform and opening-up coincided with a global shift from protectionism to market forces, allowing it to integrate into the global production system and achieve rapid growth [8][9]. - The export-oriented growth model has led to wage suppression and inadequate social security, creating structural liabilities that are now evident in the face of external shocks [11][12]. Group 3: The Role of Welfare State - Establishing a welfare state is crucial for addressing the challenges posed by the technological revolution, particularly the impact of artificial intelligence on labor distribution [17][24]. - The welfare state aims to reduce the risk burden on residents, encouraging consumption and fostering a robust domestic market [24][25]. - Without a welfare state, sustaining consumer spending becomes difficult, which in turn affects the strength of the domestic market and China's position in international economic governance [25]. Group 4: Real Estate and Economic Growth - The relationship between real estate and economic growth is undergoing a transformation, with diminishing returns on investment in the real estate sector [18][19]. - The current economic environment necessitates a reevaluation of resource allocation, particularly in light of the limited fiscal space and rising local government debt [20][21]. - The shift away from real estate as a primary growth driver could allow for more strategic investments in emerging industries, enhancing overall economic resilience [19][20]. Group 5: Regional Disparities and Open Market - Addressing regional disparities is essential for further opening up the market and achieving common prosperity, as balanced regional development supports higher levels of external engagement [21][22]. - The article suggests that fostering investment in underdeveloped regions through new special economic zones could effectively address wealth distribution issues [22][23]. - The dual focus on internal circulation and market openness is vital for navigating the complexities of the current global economic landscape [23][24].

Group 1 - The concept of "anti-involution" is becoming a key term in institutional reform, indicating a restructuring attempt of institutional design and social ecology [2] - The current economic challenges in China are linked to a long-term reliance on export-driven growth, which has suppressed wage and consumption growth [3][4] - The need for income distribution reform and welfare system construction is emphasized as a fundamental path to alleviate household financial risks and stimulate real consumption and investment [4][5] Group 2 - The historical context of China's economic development is analyzed through the lens of three long historical cycles: globalization, hegemonic shifts, and technological revolutions [5][6] - The transition from an export-oriented model to a supply-side driven domestic demand model has created a complex relationship between real estate and macroeconomic growth [16][17] - The current economic environment is characterized by a shift in the relationship between real estate and economic growth, with a decreasing reliance on real estate as a primary driver of economic expansion [16][18] Group 3 - The establishment of a welfare state is deemed essential for supporting consumer spending and creating a robust domestic market, which is crucial for China's position in the international political economy [21][22] - The challenges posed by the rise of artificial intelligence and its impact on labor markets necessitate a reevaluation of income distribution mechanisms [13][14] - The need for balanced regional development is highlighted as a prerequisite for further opening up the market and achieving common prosperity [18][19]

Group 1 - The article discusses the significant global changes and challenges faced by China in the current geopolitical landscape, emphasizing the need for a strategic response to external pressures and economic adjustments [2] - The book "Diagnosing: Global Changes and China's Economy" by Professor Gao Bo provides a comprehensive analysis of the structural changes in the global economic order and the profound transformation of China's economic ecology, linking historical patterns to current trends [4] - The author identifies three major historical cycles—globalization, hegemonic shifts, and technological revolutions—that are resonating simultaneously, similar to events leading to major global conflicts in the past century [4] Group 2 - The book posits that China's future economic growth model can be driven by two main forces: innovation-supported investment and rising real wages supporting consumption, termed as "strengthening the foundation" and "resting and recuperating" [4] - The expansion of China's domestic consumption market is directly linked to its strength in international political and economic negotiations, influencing both macroeconomic performance and foreign investment attraction [5] - The transition to a consumption-driven growth model is seen as a necessary step for China to align with developed nations, focusing on increasing the share of the tertiary sector, improving public services, and ensuring relative income equality [5]