Opinion: China Can’t Juice Its Economy Without Increasing Its Deficit
Yu Yongding, a member of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, served on the Monetary Policy Committee of the People’s Bank of China from 2004 to 2006.
China’s economy will likely grow 2% to 2.5% this year, which may not be reassuring.
Hit hard by Covid-19, China’s economy shrank 6.8% year-on-year in the first three months of the year, but returned to a 3.2% year-on-year growth rate in the second quarter. As the potential growth rate of China’s economy is around 6%, we can suppose that GDP growth rates of the next two quarters will be around 6%.
Yu Yongding, a former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, served on the Monetary Policy Committee of the People’s Bank of China from 2004 to 2006.
- 1PCG Power, Octopus Energy Launch Power Trading Venture in China
- 2Cover Story: How Gutter Oil Became a Prized Fuel for International Airlines
- 3Prominent Chinese Journalist Liu Hu Detained by Police in Chengdu
- 4Roughly Half of China’s Provinces Miss 2025 Growth Targets
- 5Maersk Unit Takes Over CK Hutchison Panama Ports After Court Ruling
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas
Sign in with Google
Sign in with Facebook
Sign in with 财新