The Chinese government’s stimulus package has sparked a huge stock market rally, but it has much more to do to shift the economy into a higher gear.
The headquarters of the People's Bank of China (PBOC), China's central bank, in Beijing. Credit: kool99 via iStock.com
China’s recent economic pivot has electrified financial markets and captured the attention of investors across the globe. In late September 2024, Beijing unleashed a potent blend of fiscal and monetary measures, spearheaded by the People’s Bank of China (PBOC), in a surprise move that caught even seasoned insiders off guard. The result? An extraordinary market surge, with the Shanghai Composite and CSI 300 indices skyrocketing over 25 percent, while sentiment reversed sharply from pessimism
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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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