Bloomberg Daybreak: Asia Edition
China Economic Data, Japan Chips Aid
Apr 2, 2024
Michelle Lam discusses China's economic data, Peter Elstrom talks about Japan's chipmaking plans, and David Finnerty covers global market reactions. Topics include China's economic recovery, Japan's semiconductor subsidies, and the impact of US and China economic data on global markets.
23:54
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Quick takeaways
- China's economic recovery sees improvements in exports and manufacturing but struggles with weak consumer demand due to property sector challenges.
- Policymakers in China aim for a balanced approach to stimulate growth, focusing on sustainable measures over supply-side stimulus.
Deep dives
Chinese Economy and Government Stimulus
The podcast discusses the recent PMI numbers from China, indicating improvements in exports and manufacturing but continued weakness in consumer spending. Despite the positive data, consumer demand remains low due to challenges in the property sector. The government has issued special CGPs to support infrastructure investments to stimulate the economy. There is a call for more fiscal stimulus, like issuing consumption coupons, to boost household income and encourage spending.
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