The News
Chinese authorities are unlikely to deploy the scale of stimulus necessary to bolster the country’s economy, analysts said.
Policymakers meeting this week to hammer out details of the fiscal support are focusing on alleviating a local-government debt crisis, but officials are wary of announcing broad-ranging measures before fully digesting the results of today’s US election, and fear the consequences of sharing a huge headline number but ultimately falling short of supplying the necessary funds, The Wall Street Journal and Bloomberg reported.
The challenge facing Beijing is immense: Youth unemployment is high, economic growth is falling short, and the mammoth property market is teetering, with The New York Times noting that banks are more aggressively foreclosing on apartments.