China reverted to its old playbook last year, relying on materials-intensive growth driven by infrastructure and property construction to propel a rapid recovery from the coronavirus. Photo: Xinhua
China to ‘tap policy brakes’ amid global commodity price rebound, but will look to ‘avoid a policy cliff’
- Iron ore, copper and oil have recorded steep price gains this year due to abundant liquidity worldwide as well as the impact of the US$1.9 trillion American Rescue Plan
- China is set to ‘tap the policy brakes’ and adopt a more restrained policy stance to rein in debt, but analysts remain ‘bullish on commodity prices’
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China reverted to its old playbook last year, relying on materials-intensive growth driven by infrastructure and property construction to propel a rapid recovery from the coronavirus. Photo: Xinhua
