An employee works on a production line manufacturing steel structures in a factory in Huzhou, Zhejiang province, in May last year. China’s economy grew by 2.3 per cent in 2020, in a dramatic turnaround since the coronavirus pandemic ravaged the country in the early part of the year. Photo: Reuters An employee works on a production line manufacturing steel structures in a factory in Huzhou, Zhejiang province, in May last year. China’s economy grew by 2.3 per cent in 2020, in a dramatic turnaround since the coronavirus pandemic ravaged the country in the early part of the year. Photo: Reuters
An employee works on a production line manufacturing steel structures in a factory in Huzhou, Zhejiang province, in May last year. China’s economy grew by 2.3 per cent in 2020, in a dramatic turnaround since the coronavirus pandemic ravaged the country in the early part of the year. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

China’s recovering economy needs to cool down to manage overheating risks

  • It might be time for Beijing to consider reining back the excess slack and for markets to be prepared for the prospect of higher interest rates ahead. Easy money can’t last forever and Beijing needs to think about normalising policy

An employee works on a production line manufacturing steel structures in a factory in Huzhou, Zhejiang province, in May last year. China’s economy grew by 2.3 per cent in 2020, in a dramatic turnaround since the coronavirus pandemic ravaged the country in the early part of the year. Photo: Reuters An employee works on a production line manufacturing steel structures in a factory in Huzhou, Zhejiang province, in May last year. China’s economy grew by 2.3 per cent in 2020, in a dramatic turnaround since the coronavirus pandemic ravaged the country in the early part of the year. Photo: Reuters
An employee works on a production line manufacturing steel structures in a factory in Huzhou, Zhejiang province, in May last year. China’s economy grew by 2.3 per cent in 2020, in a dramatic turnaround since the coronavirus pandemic ravaged the country in the early part of the year. Photo: Reuters
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.