Shoppers visit a mall in Beijing on December 14. With higher global interest rates expected in 2022, the Chinese economy will depend more heavily on domestic consumption to ensure continued growth. Photo: AP
Shoppers visit a mall in Beijing on December 14. With higher global interest rates expected in 2022, the Chinese economy will depend more heavily on domestic consumption to ensure continued growth. Photo: AP
David Brown
Opinion

Opinion

Macroscope by David Brown

China needs more stimulus in 2022 to sustain its economic recovery

  • Diverging policy priorities in Washington and Beijing and the looming prospect of interest rate increases could put the renminbi under pressure
  • There is a strong argument for another big push in fiscal stimulus to plug persistent gaps in demand

Shoppers visit a mall in Beijing on December 14. With higher global interest rates expected in 2022, the Chinese economy will depend more heavily on domestic consumption to ensure continued growth. Photo: AP
Shoppers visit a mall in Beijing on December 14. With higher global interest rates expected in 2022, the Chinese economy will depend more heavily on domestic consumption to ensure continued growth. Photo: AP
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