To consolidate its post-pandemic growth momentum in 2021, China should not be in a rush to exit from expansionary fiscal and monetary policy.
Yu Yongding argues that the “government’s cautious attitude toward expansionary macroeconomic policy reflects its vigilance regarding inflation and financial risks” but that it should focus on growth. In order to do that, the government will need to invest a lot more in infrastructure than it plans to now. Credit: ILO Asia-Pacific, Creative Commons
BEIJING – The Chinese economy grew by 6.5 percent in the fourth quarter of 2020, providing a strong indication that it has recovered from the COVID-19 shock. The market consensus is that, due to base effects, GDP growth shot up to more than 18 percent year on year in the first quarter of 2021, and will fall steadily in the remaining three quarters of the year before finally stabilizing.
Addressing this year’s meeting of the National People’s Congress last m
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The Concordia AI founder explains how Beijing is looking to regulate and pace AI's development while making sure it keeps up in the global race, and talks about the prospects of the U.S. and China...
Goldman Sachs economists argue that by allowing the renminbi to appreciate by 3-5 percent a year, Beijing can reconcile seemingly contradictory policy goals.
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