People dine at a hotpot restaurant in Beijing on April 8. Chinese policymakers must convince consumers to go out and spend money if they hope to sustain economic growth at a time of increasing global headwinds. Photo: Reuters
Opinion
Opinion
Macroscope
China’s consumers hold key to hitting GDP growth target of 5.5 per cent
- Consumers must be convinced to spend more money and generate more growth as China’s monetary easing hits the limits of what it can do
- For consumers to take up the slack, the goal for fiscal stabilisation needs to take a temporary back seat while Beijing tolerates larger budget deficits
People dine at a hotpot restaurant in Beijing on April 8. Chinese policymakers must convince consumers to go out and spend money if they hope to sustain economic growth at a time of increasing global headwinds. Photo: Reuters
