China’s budget will likely be in or near balance for the first time in roughly four decades, a sign of tight fiscal policy during the year despite a slowing economy, according to a study from the East Asian Institute.
bloomberg.com/news/articles/…
bloomberg.com/news/articles/…
China recovered from the Covid (economic) shock without loosening its fiscal policy. Unlike US/Japan. No big stimulus, no drastic reduction of interest rate, no QE, no money printer going brrrrr.
And China still have the option to do all those in the future. It's like going back to 100% hp with your mana/potions still intact, nothing on cooldown. While US have already exhausted all their mana/potions.
It's the not-often-mentioned details like this which are driving Western anti-China policy makers mad. That's also why FDI into China continue to increase yoy, despite all the talks of "decoupling" coming from Western government. Money talks, bullshit walks.
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