China's stimulus plans to fill consumer pockets to meet its 2024 growth target breaks away from a decades-old policy playbook, but making household demand a sustainable driver of development instead of investment is a long path paved with tough choices. Reuters reported last week that Beijing plans to issue sovereign bonds worth about 2 trillion yuan ($284 billion) this year, in part to subsidise consumer goods purchases and child support, effectively transferring funds to households. That marks a shift towards stimulating consumption that many economists have called on Beijing to pursue for more than a decade, warning that China may otherwise grind towards a prolonged period of low growth as seen in Japan in the 1990s.
Breaking
Hezbollah fully joined war with Iran coordination as cluster bombs target Israeli civilians, expert warns from bomb shelter near Tel Aviv during escalating conflict....
Melissa Joan Hart shares bikini photo on Instagram, calling it her 'new profile pic' as fans praise the 49-year-old actress as a 'natural beauty.'...
Mississippi Senate race heats up as GOP incumbent Sen. Cindy Hyde-Smith faces Democrat District Attorney Scott Colom, whose federal judicial nomination she previously blocked....
loading...