China’s economic outlook remains relatively optimistic in
comparison with current economic conditions throughout the
rest of the globe. That being said, the negative effects of waning
growth in China’s export and property sectors will present
serious problems for China’s overall economy in the short-term
and mid-term; solutions to the present problems in the domestic
economy will require structural changes to be made not only to
the domestic economy but also to the way China’s economy
functions within the context of the global economy.
The Central Bank of China’s recent adjustment to domestic
monetary policy has closely followed adjustments made by
major central banks in Europe and North America. China’s
central bank rapidly lowered interest rates and deposit reserve
ratios during the end ofand has continued to increase the
range in flexibility of state-owned bank lending.
In terms of fiscal policy, the Chinese central government’s
massive fiscal initiative intends to commit RMB4 trillion to a
variety of central and provincial public works projects over the
course of a two year period. It is hoped that this fiscal spending
will be able to “crowd-in” private investment and help to
preserve a steady rate of economic growth inand .
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