China’s bid to stabilise its property market is causing jitters
Can it be done without harming the wider economy?
OCTOBER 6TH 1979 was a beautiful Saturday in Washington. It was not the kind of day that augured wrenching change in economic policy. But on that date Paul Volcker, then chairman of America’s central bank, announced a radical plan to quash persistent inflation. Before the battle was won, America’s interest rates reached 20% and unemployment surpassed 10%. Car dealers sent him the keys to vehicles they could not sell, in coffins.
This article appeared in the China section of the print edition under the headline “Red lines, grey rhinos and big mountains”
From the September 4th 2021 edition
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Mega-polluter China believes it is a climate saviour
It accounts for almost 40% of global investment in clean energy
China’s stimulus falls short, as a showdown with Trump looms
The country’s rulers may be saving their fiscal ammunition in case of a trade war
Is the return of Donald Trump China’s dream or nightmare?
His election is a propaganda win, but he poses real dangers for the Communist Party
Chinese netizens wonder if their economy is in “garbage time”
As the government tries to stimulate growth, some gloomily ponder the long term
In some areas of military strength, China has surpassed America
The modernisation of the PLA is proceeding at an extraordinary pace
China rounds up Batman, Donald Trump and the Buddha
Young people in fancy dress are spooking the Chinese government