This paper examines the recent decline in consumer demand,critiques China's macroeconomic policies for their ineffectiveness in stimulating consumption,and suggests a policy pivot towards"Stabilizing Employment"as a comprehensive strategy to boost consumption.The main factors contributing to the consumption slump include a weak economy,a challenging job market,and constrained income,exacerbated by regulatory overreach and delayed market reforms.The paper argues for a paradigm shift from artificial stimulation to an endogenous approach,emphasizing market reforms,reduced government intervention,tax relief,job creation,and income stabilization to restore and enhance consumer confidence and spending.
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