As China frets about meeting its target of about 7.5 percent growth in 2014, it’s time for more stimulus. The State Council, China’s cabinet, announced plans this week to further expand railways across the country, renovate dilapidated urban housing, and provide new tax breaks for small businesses. Many analysts are expecting a return to looser credit policies this year as well.
But what China considers unacceptable levels of GDP growth would be the envy of most other countries. So why do China’s leaders demand such rapid rates of economic expansion?
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Dexter Roberts, Bloomberg News via CHINA US Focus http://ift.tt/PtlzYK
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