Weekend Edition: China’s Missed Opportunity
On the Weekend Edition Yan Wang from Alpine Macro looks at why China is stalling. He says there’s still a need for support for the demand side of the economy.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 6th September 2024
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China won’t achieve its 5% growth target this year. Yan Wang, Chief Emerging Markets & China Strategist at Alpine Macro, says the forward indicators show it won’t happen. So, what next for China? Yan says a shift in government policy is needed. Their focus has been on developing new, higher income sectors, such as EV manufacture. That makes perfect sense. But there’s no support on the demand side of the economy, which is languishing under low confidence levels, less spending and a shrinking money supply. All that can be turned around, but that takes a change in thinking from Beijing.
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