A worker surveys the construction site of an elevated highway on the outskirts of Shanghai on June 12. China's economy continued to recover in May, with accelerating industrial output growth leading the way while consumption remained in contraction. Photo: Bloomberg
David Brown
Opinion

Opinion

Macroscope by David Brown

Why China cannot pin its hopes on global demand to boost economic recovery

  • The US-China trade war, Donald Trump’s ‘America first’ policies and marginalisation of major institutions have hurt the world’s ability to deal with the Covid-19 fallout
  • China needs to forget about export-led recovery and go for growth at home through more deficit spending, bigger deficits and more government debt issuance
A worker surveys the construction site of an elevated highway on the outskirts of Shanghai on June 12. China's economy continued to recover in May, with accelerating industrial output growth leading the way while consumption remained in contraction. Photo: Bloomberg
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