China’s Third Plenum Offers Little Hope for a Flagging Economy

Quick Summary:

The Third Plenum outcome suggests a mismatch between what the Chinese economy needs to recover quickly and what policymakers are prepared to deliver.

Chinese policymakers may not have predicted that their crackdown on real estate would induce the sharp and prolonged fall in property prices and investments it did over the last three years.

Analysts who had hoped the Third Plenum would deliver a large fiscal stimulus to boost domestic demand, steps to rescue the ailing property sector, or hukou and social security reforms to increase the share of domestic consumption, were disappointed.

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Article Details

Author / Journalist: Donald Low

Category: Economy

Markets: United StatesAustraliaBangladeshChinaCook IslandsHong KongIndiaJapanNorth KoreaSouth KoreaNiuePakistan

Topics: Policymakers Industrial China’s Property Domestic Demand Growth Economy Policy Market Chinese

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-22 @ 23:45:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2933 words

Reading Time: 17 minutes read

Sentences: 118 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21732050

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