Chinese policymakers must address a flawed financing structure.
China’s energy crisis and the Evergrande debacle do not pose systemic risks. But the persistent slowdown in economic growth does.
To consolidate its post-pandemic growth momentum in 2021, China should not be in a rush to exit from expansionary fiscal and monetary policy.
Despite growth, China’s economy still faces serious challenges, which can only be addressed with a more expansionary fiscal policy.