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China’s Growth Playbook: How to Get Out of a Fix
By Advisor Perspectives
After a long period of investment-driven growth, China is changing its policy playbook.
In recent months China has rolled out tax cuts and incentives to boost consumption over investment while taking steps to further open its capital markets – a shift in approach that seems to accept a natural slowing in growth over time and to acknowledge the costs of an overreliance on credit growth. However, the targeted nature of stimulus announced thus far, together with regulatory efforts to limit the adverse side effects of past and present easing, suggest a longer, more arduous process toward stabilizing growth.
Read more at Advisor Perspectives.
Photo: Max Braun