Victor Shih (left) and Andrew Polk played down the impact of the trade war during the US-China Economic and Security Review Commission hearings at the US Congress. Photo: C-SPAN
China economy woes owe more to domestic issues than trade war, experts tell Washington hearing
- China's domestic economic issues are more problematic for policymakers in Beijing than the trade war, experts warn US congressional hearing
- Victor Shih, University of California expert on China, warned that ‘it would take a truly massive economic shock to threaten’ Chinese President Xi Jinping’s power
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US-China trade war
Victor Shih (left) and Andrew Polk played down the impact of the trade war during the US-China Economic and Security Review Commission hearings at the US Congress. Photo: C-SPAN
China’s government has brought forward the 2020 quota for local government special bond issuance into this year to ensure the continuation of construction momentum with this year’s quota expected to be exhausted later this month. Photo: AFP
China’s latest efforts to focus on fine tuning ‘weak economic links’ as downward pressure mounts
- State Council calls for more subsidies for low-income consumers and more special purpose bonds to fund additional spending on infrastructure and other projects
- It also wants a timely cut in market interest rates and the amount of money that banks are required to hold in reserve at the central bank
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China economy
China’s government has brought forward the 2020 quota for local government special bond issuance into this year to ensure the continuation of construction momentum with this year’s quota expected to be exhausted later this month. Photo: AFP