China last week launched interest-rate cuts, liquidity-support measures and what amount to some targeted bailouts for indebted local governments
Members of the Politburo Standing Committee attend the third plenary session of the 20th Communist Party of China Cent ral Committee held from July 15 to 18 in Beijing.If you’d invested $100 in the Chinese stock market at the start of last week, you’d be nearly $25 richer today. When the Chinese government decides to jolt its moribund economy back to life, as it did with an injection of stimulus to markets last week, it doesn’t take half-measures.
Still, as dramatic as the turnaround has been, it’s too early to say the Chinese economy is roaring back to life. But with much of the world now turning against globalization, it’s getting harder for China to keep exporting its way to growth.
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