China’s schizophrenic stimulus policy

CHINA ADVISORY - Report 16 Dec 2019 by Andrew Collier

Recent negative economic data is forcing Beijing to devise creative responses. The responses show a political compromise between the “spenders” (the National Development and Reform Commission, the local provincial governments, and the State Council) against the “savers,” which would include the PBOC, the CBIRC and possibly the views of Xi Jinping’s economics guru, Liu He (although he tends not to reveal his hand on economic debates and may be too involved with the trade talks to deal with his day job, Office Chief of the Central Financial and Economic Affairs Commission).

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