China’s economy is under pressure from the US trade war and structural issues, with the expectation that Beijing will enact further stimulus this year. Photo: Reuters

China will not turn to global financial crisis stimulus playbook to offset US trade war, says Beijing adviser

  • Liu Shangxi, the head of the Chinese Academy of Fiscal Sciences, says Beijing will rely on tax reductions and budget management reform
  • US$580 billion stimulus package used in 2008 after the Lehman Brothers bankruptcy will not help China’s weakening economy, he says
Topic |   China economy

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China’s economy is under pressure from the US trade war and structural issues, with the expectation that Beijing will enact further stimulus this year. Photo: Reuters
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US President Donald Trump and China's President Xi Jinping attend a bilateral meeting on the sidelines of the G20 summit in Osaka, Japan, on June 29. Photo: AFP

Donald Trump pushed China to commit to buying US farm goods at G20, but Xi Jinping avoided firm pledge

  • The US president repeatedly pressed Chinese counterpart to commit to purchasing US agricultural goods at G20 summit in Japan
  • Xi refused to make specific commitment, signalling a new and tougher stance towards trade talks from Beijing, which was previously happy to make purchases
Topic |   US-China trade war

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US President Donald Trump and China's President Xi Jinping attend a bilateral meeting on the sidelines of the G20 summit in Osaka, Japan, on June 29. Photo: AFP
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