Governance Reform Is Key to Reviving China’s Economy
With China staring down the barrel of a Japan-style “lost decade” of deflation and stagnation, the central government has finally taken action, announcing its largest stimulus package since the COVID-19 pandemic. But, while this may buy China time, it will not deliver lasting prosperity.
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LONDON – When it comes to economic slowdowns, things often get worse before they get better. This is being borne out in China, following the government’s introduction in late September of its biggest stimulus package since the COVID-19 pandemic.