From China’s Finance Minister Lou Jiwei last night:
“From a policy perspective, China won’t roll out large-scale fiscal stimulus policies this year,” said Lou, who became finance minister in March. China “will promote economic growth and job creation and fine-tune policies, while keeping the fiscal deficit size unchanged.”
No surprise there. Reform is the new stimulus. No doubt there’ll be something new as we slow but I expect soft infrastructure and environmental clean-ups to take priority. Australia’s Chinese ‘infrastructure put’ is history it seems.
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