2/4
That's a strange way of putting it, a little like an anorexic crediting his svelte figure to healthier eating habits. In fact China's low CPI inflation is a consequence of very weak domestic demand which Beijing is eager, but unable, to reverse.
That's a strange way of putting it, a little like an anorexic crediting his svelte figure to healthier eating habits. In fact China's low CPI inflation is a consequence of very weak domestic demand which Beijing is eager, but unable, to reverse.
3/4
Rising unemployment, declining household income and unending COVID lockdowns have squeezed domestic consumption. Meanwhile Beijing struggles to keep production rising with a series of expensive supply-side subsidies which are indirectly paid for, ironically, by households.
Rising unemployment, declining household income and unending COVID lockdowns have squeezed domestic consumption. Meanwhile Beijing struggles to keep production rising with a series of expensive supply-side subsidies which are indirectly paid for, ironically, by households.
4/4
When weak domestic consumer demand is an economy's biggest problem, lower CPI inflation and surging trade surpluses are not indications of success. They are indications that the problem hasn't been resolved.
When weak domestic consumer demand is an economy's biggest problem, lower CPI inflation and surging trade surpluses are not indications of success. They are indications that the problem hasn't been resolved.
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