NYT: Chinese Economists Warn Beijing's AI Fixation Is Deepening a Broader Economic Crisis as Xi Heads to Washington
Summary
Li Yuan's Sept 20 New York Times piece reports Chinese economists warning that Beijing's concentration of resources on AI is coming at the expense of a broader economic crisis: 18.9% youth unemployment, ~20% drop in domestic car sales, another 14% slide in housing sales, and a deflationary spiral. Former PBoC adviser Li Daokui is quoted saying booming high-tech sectors can't lift the wider base. The framing lands as Xi arrives in Washington for the Sept 24 summit.
Shared on Bluesky by 1 AI expert
Originally reported by nytimes.com
Read the original article →Original headline: NYT: Chinese Economists Warn Beijing's AI Fixation Is Deepening a Broader Economic Crisis as Xi Heads to Washington