China’s Repressed SMEs
Financial repression – government policies that lead to low or negative real interest rates, with the implicit goal of generating cheap financing for public spending – has long been a key feature of Chinese economic policy. But, with funding costs for businesses trending up, this needs to change.
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BEIJING – Financial repression – government policies that create an environment of low or negative real interest rates, with the goal of generating cheap financing for public spending – has long been a key feature of Chinese economic policy. But, with funding costs for businesses trending up, this is finally starting to change.