China Presses on With Tax-Cut Strategy as Lending Stabilizes
Stronger-than forecast credit signals stimulus is working
Government pledges more targeted, stimulus led by tax cuts
Allen Sinai of Decision Economics, talks about the Chinese government’s economic measures and the stock market.(Source: Bloomberg)
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Bloomberg News
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China’s government is turning increasingly to tax cuts as the first line of defense against a slowing economy, as credit data released Tuesday showed some vindication of its gradual stimulus strategy.
