Northeast Securities’ chief economist Fu Peng gave a speech that went viral. The main reason for its popularity is that he used clear and simple language to describe some harsh truths about China’s economy, which resonated with many people. In his speech, Fu Peng said that with the collapse of the middle class and changes in the population structure, China’s economic outlook is not optimistic. He added that the Chinese government has limited options and that people should be mentally prepared for tough times.
