China’s stimulus debate reignites questions of who gets what, and how
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Macau announced cash handouts of 10,000 patacas (US$1,247) to boost consumption; economists debate effective stimulus methods for mainland China; Wang Xiaolu advocates for enhanced social security and unemployment benefits; 964 million people in China live on 2,000 yuan (US$249) monthly; urban employment in 2023 was 470 million, with only 240 million covered by unemployment insurance; Liu Qiao proposed direct cash transfers of 10,000 yuan (US$1,380) to 280 million low-income individuals, potentially boosting GDP by 4%; October retail sales grew by 4.8% year on year; Beijing's retail consumption grew by 2.9%, while Shanghai's dropped by 2%; 300 billion yuan (US$42.5 billion) in special bonds issued for consumer goods; Goldman Sachs and Morgan Stanley CEOs stress the importance of consumer spending for foreign investor confidence.
#China #Economy #Stimulus #ConsumerSpending #SocialSecurity #RetailSales #Macau #Unemployment #Gdp #CashHandouts
https://www.scmp.com/economy/china-economy/article/3287525/chinas-consumption-stimulus-debate-reignites-no-clear-answer
South China Morning Post /
npub1x2…knuvq
2024-11-21 09:05:13
Author Public Key
npub1x2q0x7w5tqx0x3j9tdvkvqmetarpr8axhpjq7qw5xxrcysdwtrzssknuvqPublished at
2024-11-21 09:05:13Event JSON
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"content": "China’s stimulus debate reignites questions of who gets what, and how\n==========\n\nMacau announced cash handouts of 10,000 patacas (US$1,247) to boost consumption; economists debate effective stimulus methods for mainland China; Wang Xiaolu advocates for enhanced social security and unemployment benefits; 964 million people in China live on 2,000 yuan (US$249) monthly; urban employment in 2023 was 470 million, with only 240 million covered by unemployment insurance; Liu Qiao proposed direct cash transfers of 10,000 yuan (US$1,380) to 280 million low-income individuals, potentially boosting GDP by 4%; October retail sales grew by 4.8% year on year; Beijing's retail consumption grew by 2.9%, while Shanghai's dropped by 2%; 300 billion yuan (US$42.5 billion) in special bonds issued for consumer goods; Goldman Sachs and Morgan Stanley CEOs stress the importance of consumer spending for foreign investor confidence.\n\n#China #Economy #Stimulus #ConsumerSpending #SocialSecurity #RetailSales #Macau #Unemployment #Gdp #CashHandouts\n\nhttps://www.scmp.com/economy/china-economy/article/3287525/chinas-consumption-stimulus-debate-reignites-no-clear-answer",
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