China’s latest economic stimulus measures are likely to provide only a temporary boost: much more fundamental change is needed to shift the country’s growth higher.
The Shenzhen Stock Exchange building in Shenzhen, China. Credit: Nikada via iStock.com
The series of fiscal and monetary stimulus policies either announced by the Chinese government or speculated upon by the market in recent days have provided a substantial boost to China’s previously gloomy stock market. Measures such as lowering interest rates, reducing the banks’ reserve requirement ratio — which on paper should allow them to lend more — and targeted support for local governments, the industrial sector, and households with children have lifted investors’ growth expect
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From Mike Mansfield to Max Baucus and Steve Daines, Montana has been the unlikely source of America’s most influential China-hand senators over the past half-century. But amidst spy balloons, trade wars and mutual paranoia, being a proponent for rational and beneficial relations between the two countries has never been harder.
The former CIA officer says Washington has lacked a clear strategy towards intelligence on China, in contrast to Beijing’s approach — and that Congress needs to act.
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