Pingxiang, a scruffy county in northern China, has become a centre for the children’s bicycle industry. There are lots of upsides to making bikes for kids, explains Mr Li, a young entrepreneur from the region. But the downside? China is running out of children. Mr Li’s plight reveals a lot about the forces that are battering China’s private sector, and about the solutions being proposed by officials in both the local and central governments. The Communist Party puts great stock in large state-owned enterprises and groundbreaking technology. But China needs its backyard entrepreneurs, too. And these micro-industrialists are struggling to survive. Tap the link in our bio to learn why. Illustration: @chloecushman
February 06, 2024
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