This is understandable, as the authorities have rolled out multiple monetary and fiscal stimulus packages to stave off deflation and boost gross domestic product (GDP) growth. But with public debt already well above historical norms, there is limited room for further fiscal intervention without risking a future debt crisis.
Given this constraint, China should focus on policies that stimulate entrepreneurship, investment, and economic growth without adding to the government's debt burden. Policymakers could take several steps to bolster investor and consumer confidence while maintaining fiscal discipline.
This story is from the December 07, 2024 edition of Business Standard.
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This story is from the December 07, 2024 edition of Business Standard.
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