China’s economy braces for Trump

中国经济发展应对特朗普挑战

Behind the Money

2024-11-20

16 分钟
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Lately, China’s economy has been in the doldrums, with the risk of a “deflationary spiral” lurking. Plus, toss in the election of Donald Trump in the US — and reaching the economic goals President Xi Jinping set more than a decade ago looks even more difficult. The FT’s China bureau chief Joe Leahy examines Beijing’s latest plans to fix the country’s economy and whether it will be enough to keep up with Xi’s long-term plans for growth.   Clips from Bloomberg, CBS, Yahoo Finance  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Why Xi Jinping changed his mind on China’s fiscal stimulus Why China is betting on local governments to spur the economy If China’s statistics can’t be scrutinised, doubts about the economy will only grow - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Joe Leahy (@leahyjoseph) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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  • For the past couple of years, the FT's China bureau chief,

  • Zhou Lei, says that China's economy has been in a tough place.

  • Things have been looking pretty bleak in China.

  • Ordinary people have been hit by a real estate slump.

  • Many local governments which actually drive China's economy have not been paying salaries and suppliers.

  • Even the better off have been feeling pretty bad.

  • At the end of September this year, there weren't many signs that this was going to change.

  • That is until one Tuesday, September 24th.

  • China announced a massive monetary stimulus package that sent everyone's interest in Chinese stock soaring again.

  • The market basically went crazy.

  • I mean, if you look at the chart.

  • from that day, it's a vertical cliff.

  • After Chinese stocks spent years in consistent decline, millions of retail investors pile back in.