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"Policymakers are not even willing to cut interest rates much. On August 21st they disappointed investors with an underwhelming cut of 0.1 percentage points in
by jacob019 3y ago
"Policymakers are not even willing to cut interest rates much. On August 21st they disappointed investors with an underwhelming cut of 0.1 percentage points in the one-year lending rate."
The excerpt bothers me. Interventionalist central banking policy is new to the point of experimental, and I am skeptical that a group of humans voting for policy decisions will result in long term stability. I think in time we will find that decisions that seemed good at the time resulted in unforeseen long-term problems. I understand the logic, that drastic times call for drastic measures; but I can also see the logic in moving slowly in the face of uncertainty.
- hnfong 3y agoThis is just the latest of a long series of commentary by western media on why China is wrong and failing. The more charitable interpretation is "they're not doing the same things as we are, that's why they're wrong and are doomed to fail". The jury's still out on the long term effects of the latest round of COVID stimulus and QE, pretty interesting how the media is already claiming victory and pointing fingers at China refusing to parrot the behavior.