Why struggling China has hit the panic button [Yahoo! Finance]
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Source: Yahoo! Finance
The move, seen as a 'do whatever it takes' moment, comes ahead of the China Economic Work Conference and is aimed at stabilizing the housing and stock markets, boosting consumption, and providing extraordinary support through tax and spending. However, analysts warn that China's vast debt pile and weak property sector mean that stimulus measures may not be enough to stimulate growth, with some predicting a 'balance sheet recession' and a slowdown in growth to 3.3% by 2029. The move is also seen as a response to the threat of a new trade war with the US, with China's central bank preparing to counteract potential protectionist measures. It's been dubbed Beijing's “do whatever it takes” moment. In a surprise move on Monday, the country's ruling Communist party vowed to ramp up support for China's ailing economy With echoes of Mario Draghi's bid to save the euro in 2012, leaders in Beijing changed their so-called stance on interest rates from “prudent” to “moderately loose”. The
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