Explanation-What is “engaging”, the direction of competition in China to the cylinder?

From Casey Hall

Shanghai (Reuters) -Cina leaders have pledged to end the low -price price discounts by some Chinese companies that the organizers say stimulates the excessive competition that destroys the economy.

The alleged “Control of the Revolution” campaign has arisen through the excessive ability of Chinese manufacturers – a legacy of previous government efforts to stimulate the economy – and price discounts made to clean shares or consumption. These cuts have paid price wars in various sectors that raise fears that may become firm and hinder efforts to install the $ 19 trillion China economy.

What is engagement?

The Chinese term began to clarify, “Neijuan”, heading online in 2020 and young people initially used it to describe the excessive pursuit of competition and self -defeat often for traditional signs of success.

It included some of the contexts that they used to interrogate what is the goal of working hard to enter a good school if the bonus operates 996 hours (from 9 am to 9 pm, six days a week) in a technical company? If you are lucky enough to throw a job, this is in the era of highly graduate unemployment.

Although the term is less used in the English language, the engagement comes from a Latin term, which means “wrapping or moving inward.” It was popular with American cultural anthropologist Clevord GMT in the 1960s – with regard to its studies on air agriculture – to describe the economic or cultural stagnation despite the increase in complexity or effort.

Recently, Neijuan has become an abbreviation in China for exhausting grinding but often sterile and sometimes destroying excessive competition on a larger scale.

The concept is now also linked to the country’s axis of property -based growth to an industrial complex that includes a third of global manufacturing, which has witnessed investments of more shortcomings without any accompanying increase in returns. It is a race to the bottom.

Why competition is bad?

On social media in China, there is a joke that is often repeated that is going on this way: in other countries, governments intervene to prevent anti -competition behavior; Here (in China), they intervene to reduce competition.

The issue is that the level of competition has reached a point in which the revenues not only decrease, but also threaten economic stability.

Beijing faces decisions to take action against excessive ability, excessive competition, and brutal price wars because shrinkage pressure was escalating in the second largest economy in the world.