How China's Central Bank Subtly Admits Economic Troubles While Misleading Xi Jinping
Автор: Digging into China
Загружено: 2024-08-28
Просмотров: 13365
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How China's Central Bank Subtly Admits Economic Troubles While Misleading Xi Jinping
China’s economy continues to struggle with deflation, debt crises, and overcapacity, as subtly acknowledged in the central bank's latest monetary policy report. Despite the government's denial, the central bank hints at these issues while struggling with external pressures and internal constraints. The report reveals that banks are not significantly reducing their margins despite lower LPR rates, keeping borrowing costs high. Notably, banks favor state-owned enterprises with low-interest, loss-making loans, while small businesses face high rates and little relief. This situation highlights the disparity between government rhetoric on supporting private enterprises and the actual financial burden on smaller businesses. Despite the central bank’s efforts to address these issues, substantial rate cuts are hindered by various factors, including pressure from above and global uncertainties.
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