No stimulus coming to China


The FT has a terrific piece today.

According to experts in Chinese politics and economics as well as government advisers in Beijing, the leadership is comfortable with slower growth rates and is wary of pulling the trigger on any big changes that would add to government debt or risk instability in the financial system.

…Yu Jie, a China expert at the UK think-tank Chatham House, said a close reading of Chinese government announcements and speeches over recent months, including statements from the politburo, showed the top leadership was clear-eyed about the severity of the economic downturn.

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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.