1/3
Good piece by @nate_taplin. He argues that China is facing real structural difficulties, not a temporary downturn, in which case "rhetorical support for entrepreneurs and consumers may not be enough to turn things around."
wsj.com
Good piece by @nate_taplin. He argues that China is facing real structural difficulties, not a temporary downturn, in which case "rhetorical support for entrepreneurs and consumers may not be enough to turn things around."
wsj.com
2/3
He continues: "Something more ambitious may be needed: direct fiscal transfers to households, big-bang improvements to China’s paltry social safety net or a convincing return to an ambitious, market-friendly reform agenda."
He continues: "Something more ambitious may be needed: direct fiscal transfers to households, big-bang improvements to China’s paltry social safety net or a convincing return to an ambitious, market-friendly reform agenda."
3/3
I am skeptical about how much a "market-friendly reform agenda" will help, mainly because I think private sector weakness is a consequence, not a cause, of China's economic malaise, but I agree that China urgently needs major direct or indirect transfers to households.
I am skeptical about how much a "market-friendly reform agenda" will help, mainly because I think private sector weakness is a consequence, not a cause, of China's economic malaise, but I agree that China urgently needs major direct or indirect transfers to households.
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