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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Agriculture has traditionally been a fruitful area for China-U.S. cooperation, dating back to the two countries’ resumption of diplomatic relations in the 1970s. Now it is just another area marked by Sino-American distrust, as Washington hunts Chinese agriscience “spies” and Beijing races to reduce reliance on U.S. farm exports.
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