Beijing Signals That It Has No Idea What To Do About Its Economy [Forbes]
COUNTRY GARDEN HL UNS/ADR (CTRYY)
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Source: Forbes
Politburo meetings of the Chinese Communist Party's (CCP's) were supposed to unveil new, more effective policies to deal with China's economic problems. All the Politburo saw, however, was a rehash of existing policies that so far have had little or no substantive effect on the economy. True, since those meetings Beijing has announced a real estate buying policy. But despite its seeming scale, it is small next to the need. Now party leaders have implicitly promised announcements of stronger policy at July's Third Plenum meetings. Given the behavior of China's leadership to date, that seems unlikely. Even considering the new apartment-buying policy, Beijing's behavior to date signals a timidity that in turn implies an inability among China's leadership to find remedies for China's severe economic challenges. Meanwhile, China's economy has continued to show signs of weakness. Some hope had emerged in the opening months of the year that economic activity beginning to recover. More rec
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