Adam Posen on central banks, China and the enduring power of the dollar
FT Alphachat
00:00
Central Banks and Fiscal Policy in China - What's the Trade-Off?
China has plenty of room to use fiscal policy. They can do social welfare state for their consumers and citizens, which there hasn't been much of. The problem has been that they've insisted on using stimulus through the banking system in China. It's not so much the level of debt but the political intervention as you say,. Mark Whitaker: We have this kind of Italy model in our head for China.
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