China’s “Two Sessions” (the annual meetings of the National People’s Congress and the Chinese People’s Political Consultative Conference) closed on Monday in Beijing. The Two Sessions featured two important announcements regarding China’s economy: a 5 percent GDP growth goal for 2024, and a deficit rate of 3 percent with the issuing of 1 trillion yuan … Read more
Advertisement The Diplomat author Mercy Kuo regularly engages subject-matter experts, policy practitioners, and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with George Magnus – a research associate at China Centre, Oxford University and the School of Oriental and African Studies in London; former chief economist and senior economic … Read more
Advertisement During the 2008 Global Financial Crisis, China’s then-Premier Wen Jiabao declared: “In the face of economic difficulties, confidence is more important than gold and currency.” Consequently, a Chinese economic stimulus worth 4 trillion Chinese yuan ($586 billion) was issued to shore up the economy during that year. This economic measure was Beijing’s largest move … Read more