Chinese Economists Urge Central Government to Boost Fiscal Spending to Address Weak Domestic Demand
Two Chinese economists, Yu Yongding and Huang Yiping, called on the central government at the Caixin Summer Summit to increase fiscal spending and policy support to boost consumer confidence and purchasing power in China. They argued that current subsidies are insufficient and that the government needs to increase leverage to repair the balance sheets of local governments and businesses, addressing China's weak domestic demand.
Key quotes
Two Chinese economists have called on the central government to provide greater policy support to boost consumer confidence and purchasing power
current subsidies are insufficient
increasing leverage to repair the balance sheets of local governments and businesses
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