Thinking About China
Opinion

Beijing Must Be Desperate: New Stimulus Still Falls Short of Reviving China’s Economy

Beijing has made dramatic moves of late to jump-start China’s economy but further action may be necessary.
Beijing Must Be Desperate: New Stimulus Still Falls Short of Reviving China’s Economy
Motorists commute on a street in the Lujiazui financial district in Shanghai on June 5, 2024. Hector Retamal/AFP via Getty Images
Milton Ezrati
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Commentary

Beijing made a dramatic gesture in September, implicitly admitting that the May stimulus package failed to help China’s beleaguered economy. It has advanced both monetary and fiscal stimulus measures far beyond anything to date. These steps may help Beijing meet its 5 percent real growth target for 2024, but they are not likely to restore China’s economic momentum.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."