A new China shock emerges

Pantheon reckons Chinese deflation will continue:

China will Export Disinflation, not Inflation, despite New Stimulus

The last thing the world needs right now is another source of inflation, so China’s stimulus announcement last Tuesday was met with consternation in some quarters. But we think China will be a source of lower, not higher, inflation this year. The new Chinese stimulus package—as it currently stands—should further reduce price pressures.

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