Why China’s government might struggle to revive its economy
Low inflation should make things easier. But officials have other concerns
China’s post-covid recovery was supposed to be world-shaking. Instead, it looks merely shaky. After the initial release of pent-up demand, economic data for April fell short of expectations. In response China’s stocks faltered, yields on government bonds fell and the currency declined. The country’s trade-weighted exchange rate is now as weak as it was in November, when officials were locking down cities.
This article appeared in the Finance & economics section of the print edition under the headline “Tiny toolbox”
Finance & economics June 3rd 2023
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