China Plans New Spending Drive, Other Stimulus to Revive Flagging Economy
6/15/23
from The Wall Street Journal,
6/14/23:
Beijing officials are stepping up plans to jump-start China’s recovery, some economists worry they may have little impact.
The push follows a series of interest rate cuts by China’s central bank this week, including one on Thursday which cut a key policy rate for the first time since August, as fresh data showed the country’s economic recovery is flickering out. The moves are a sign that Beijing officials are increasingly uneasy about the economy’s prospects now that a wave of excitement following the country’s abandonment of its draconian Covid-19 controls has receded.
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