Paramilitary police officers stand guard at the headquarters of the People’s Bank of China in Beijing on September 30 last year. The central bank must hold fast: more monetary accommodation to ease consumers’ debt-servicing pain would not be the best use of China’s valuable resources. Photo: Reuters
Paramilitary police officers stand guard at the headquarters of the People’s Bank of China in Beijing on September 30 last year. The central bank must hold fast: more monetary accommodation to ease consumers’ debt-servicing pain would not be the best use of China’s valuable resources. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

China must not be tempted to repeat the easy money mistakes of the West

  • It’s no good trying to reflate the economy with even cheaper money when demand is being deflated by a weak global economy, over which Beijing has no control
  • Beijing must concentrate on generating growth from government investment, such as on infrastructure, transport and telecoms

David Brown
David Brown

Updated: 10:00pm, 3 Jul, 2023

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Paramilitary police officers stand guard at the headquarters of the People’s Bank of China in Beijing on September 30 last year. The central bank must hold fast: more monetary accommodation to ease consumers’ debt-servicing pain would not be the best use of China’s valuable resources. Photo: Reuters
Paramilitary police officers stand guard at the headquarters of the People’s Bank of China in Beijing on September 30 last year. The central bank must hold fast: more monetary accommodation to ease consumers’ debt-servicing pain would not be the best use of China’s valuable resources. Photo: Reuters
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