Given the economic loss in Q1 as a result of the ongoing #COVID-19, even if China's growth rate is rapidly pulled to more than 5% in Q2, Q3 and Q4, it is difficult to achieve a growth rate of over 3% in the whole year without the implementation of unimaginable #stimuluspolicies.
But even so, China is likely to be the only major economy to see positive growth this year, according to CF40 Invited Member Liang Hong. mp.weixin.qq.com/s/Gzp9f_Tmm39V…
Whether China can recover from this shock in short term requires more efforts.
Specially, more active #fiscaldeficit policies are needed to revitalize state-owned assets.
Moreover, to transfer money from government departments to enterprises and the people through subsidies or #taxcuts.
Lastly, to draw lessons from the 2008 crisis and treat #SOEs and private enterprises fairly in a way more efficient than it did in 2008.
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