Beijing’s latest blitz of economic policy measures is designed more to mitigate risks than to provide broad stimulus in the near term, according to Haibin Zhu, chief China economist at JPMorgan Chase & Co.
“If you ask me whether it represents a game changer or China’s ‘whatever-it-takes’ moment — or another round of a 4 trillion yuan stimulus package — my short answer is no, we are not there yet,” Zhu said at an event held by the Institute of International Finance in Washington. The 4 trillion yuan reference is to China’s 2008 stimulus package during the global financial crisis.
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