Last updated: October 17, 2024
by Andrew Sheng and Xiao Geng
Although China has been struggling with deflation for some time, Chinese leaders have been reluctant to take significant stimulus measures. It has not forgotten the lessons of the 2009 stimulus plan, not least that excessive credit expansion carries serious risks of non-performing loans and excessive construction.
Last month, the Federal Reserve initiated its first monetary easing cycle in more than four years, cutting the federal funds rate by 50 basis points from its 20-year high of 5.3 percent to a range of 4.75-5 percent. This is good news for China, which now has much more leeway in its efforts to restart its economy.
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