Pull up, terrain! Chinese hard landing dead ahead

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China’s cabinet pledged stronger monetary policy support for the economy while cautioning against flooding the market with liquidity, state broadcaster CCTV reported late Monday.

In a State Council meeting chaired by Premier Li Keqiang, the cabinet called for adoption of monetary policy tools to sustain credit expansion at a stable pace. The authorities also promised to maintain policies that can support the economy, while pledging to avoid measures that can hurt market sentiment.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.