1/4
While the NDRC and the politicos continue to support more infrastructure expansion, there have been more warnings about debt from policy advisors, with a government-linked think tank noting recently that “Infrastructure investment for the whole...
scmp.com/economy/china-…
While the NDRC and the politicos continue to support more infrastructure expansion, there have been more warnings about debt from policy advisors, with a government-linked think tank noting recently that “Infrastructure investment for the whole...
scmp.com/economy/china-…
2/4
year of 2020 increased by 3.41 percentage points more than the growth rate of nominal GDP, but its stimulus effect was limited compared to the scale of debt expansion."
We will see a partial (temporary) reversal this year, but it seems almost impossible to break...
year of 2020 increased by 3.41 percentage points more than the growth rate of nominal GDP, but its stimulus effect was limited compared to the scale of debt expansion."
We will see a partial (temporary) reversal this year, but it seems almost impossible to break...
3/4
the relationship in which GDP growth requires faster growth in FAI, which in turn requires faster growth in debt. This can go on for a long time, but it obviously isn't sustainable, and the longer it goes on, the more difficult the adjustment.
the relationship in which GDP growth requires faster growth in FAI, which in turn requires faster growth in debt. This can go on for a long time, but it obviously isn't sustainable, and the longer it goes on, the more difficult the adjustment.
4/4
Rather than a debate about more debt or less growth, Beijing should be discussing the type of adjustment it ultimately can tolerate.
Rather than a debate about more debt or less growth, Beijing should be discussing the type of adjustment it ultimately can tolerate.
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