Xi is walking a careful line to encourage the economy without overheating it.Li Xueren/Xinhua via Getty Images; iStock; Rebecca Zisser/BIChina's top leaders have unleashed a stimulus blitz to reverse the economic downturn and boost market confidence.Skeptics say it's just not enough for the scale of China's problem.However, some economists say that since China is a top-down system, officials will do everything they can to make it work.China unleashed a stimulus blitz on September 24, jolting the markets to try to reverse the previously downbeat narrative on the world's second-largest economy.Right from the start, skeptics said it's just not enough to fix China's problems, which include an unprecedented property downturn, deflation, and a crisis of confidence, among other issues.But it's likely not the last economy-boosting package, said some economists, because China is a top-down system — and the boss has called for it."As saving the economy and rescuing stock markets become politically correct, officials could jump on the bandwagon to display their loyalty," economists from Japanese bank Nomura wrote in a Wednesday note.Various Chinese ministries and local governments are likely to roll out a variety of stimulus measures in the coming weeks — useful or not, they added.
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htan@insider.com (Huileng Tan), Business Insider
Sun, 10/06/2024 - 5:00pm
Topics: li xueren/xinhua getty images rebecca zisser/bichina nomura ceos freya beamish rory green data ts lombard cina msa capital saudi arabia-backed china's national development reform commission pboc macquarie group kpi magdalena polan pgim fixed income hong kong's hang seng index national day china september chinese harburg beijing business insider china's hu csi blitz boost economy stimulus measures property markets stock market wrote economists officials policy top real economic estate growth top-down government housing initial companies weeklong set system leaders announced decades unleashed change fire issues stop downturn reverse head overzealous problems start hot crisis central line confidence based country technocrats mainland added support policies messy called scale benchmark reopen announcement including actions time overheating bank package public holidays excess fiscal
BING NEWS:
- China released a blitz of stimulus measures to boost its economy. Now begins the balancing game.
China is a top-down system and officials will pull out the stops to make it into Xi's good books. It still might not be enough.
10/6/2024 - 1:00 pm | View Link - Can China’s stimulus blitz fix its flagging economy?
Pan Gongsheng, the governor of China’s central bank, announced a raft of measures on September 24 aimed at boosting the country’s flagging economy. The move, which came a week before the 75th ...
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China gave its economy a shot in the arm with an extraordinary flurry of stimulus measures this week. The moves range from monetary easing to support for the struggling real estate sector. While some ...
09/26/2024 - 8:42 pm | View Link - China moves to boost ailing economy with property, stimulus measures
The world’s second-largest economy has struggled to rebound from the pandemic, leading financial authorities to cut interest rates and support the property market.
09/24/2024 - 6:48 am | View Link - China just released aggressive measures to boost its economy — but some analysts say it's still not enough
On Tuesday, three of its top financial regulators appeared side by side in a rare press conference on the economy where People's Bank of China governor Pan Gongsheng announced a broad range of ...
09/23/2024 - 9:53 pm | View Link - More
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