A Growing Sense of Urgency: Is This Beijing’s Economic Reckoning?

Quick Summary:

Liquidity isn’t enough – China needs fiscal action and structural overhaul for a sustainable recovery.

A favored approach among economists, which Liu dubs the “stimulus-plus-reform” framework, is built on the premise that fiscal intervention must be paired with structural reforms to steer China out of its current crisis.

This could be paired with broader fiscal reforms, such as increasing fiscal transfers from the central government or introducing new tax mechanisms that allow local governments to generate revenue without depending on land sales.What Else Is Needed?

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Article Details

Author / Journalist: Lizzi C. Lee

Category: Economy

Markets: United StatesCambodiaChinaJapanNorth KoreaSri Lanka

Topics: Reforms China’s Support Liquidity Debt Fiscal China Government Local Monetary Structural

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 21:18:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2937 words

Reading Time: 17 minutes read

Sentences: 136 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © The Diplomat

News ID: 22753380

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