The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.
Recently, some US and EU officials have said China’s overcapacity distorts global pricing and production patterns. Concur-rently, the Joe Biden administration is considering imposing high tariffs on Chinese steel and aluminum, potentially opening a new front in the ongoing trade conflicts in order to contain Beijing’s “Made in China” drive.
The ex-PM told a Davos panel that Chinese consumers and businesses could boost growth, if they can get their mojo back. The big risk is a fallout with the US.
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