Despite growth, China’s economy still faces serious challenges, which can only be addressed with a more expansionary fiscal policy.
BEIJING – China’s economy seems largely to have bounced back from the COVID-19 shock. It registered 4.9 percent annual growth in the third quarter of 2020, and the rate may well exceed 5 percent growth in the fourth quarter. The result would be at least 2 percent annual full-year growth — not bad at a time when much of the world is facing a pandemic-induced recession. But that doesn’t mean smooth sailing ahead.
Consumption growth is a key consideration in determining China’s likely
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Bob Fu's relationship with China has gone through phases. First, he thought money would solve his problems there; then he joined protesters at Tiananmen Square, thinking the politics could change. In the end, he determined, only God could save China, and he's been fighting for religious freedom in China ever since he resettled in Texas. With his nonprofit, ChinaAid, prospering like never before, he says the U.S. is finally catching on.
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