3Rd Plenum Will Treat Economy With Chinese Medicine
Date
7/13/2024 10:29:56 AM
(MENAFN- Asia Times)
The market is closely watching the long-awaited Third Plenum in China, which will take place in Beijing from July 15-18. Historically, this event has been pivotal in signaling key policy shifts and economic reforms in China. This time around, market participants and China watchers have a very specific question that they hope the Third Plenum can answer, namely whether enough growth-enhancing measures will be announced to revive the Chinese Economy after years of underwhelming performance.
So far, there does not seem to be much hope that path-breaking reforms will be announced at the Third Plenum, based on how officials and Chinese academics have been preparing the ground for this event. The problems that have been piling up during the last few years are, however, increasingly serious, from real estate stagnancy to the difficult financial situation of local governments as well as the rapidly declining return on assets, due to over-investment, and the deflationary pressures in the economy.
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