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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Walmart should be in trouble in China, where its competitors are in retreat and its sourcing operations have been criticised by both Beijing and Washington. But the American retailer seems to have found a way forward in a difficult sector and remains one of the biggest benefactors of China-U.S. trade.
The Commerce Department wants to expand export controls to majority-owned subsidiaries of Chinese companies. That could trigger cascading effects — and challenges.
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