Economics

Haunted by 2008, China and U.S. Diverge on Stimulus Plans

Biden plans double fiscal dose, Powell swears off tightening
China emphasizes deleveraging with tighter fiscal targets

WATCH: The world’s two biggest economies are both feeling the hit from the pandemic, but have two very different fiscal paths out of the covid-induced recession. (Source: Bloomberg)

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By Chris Anstey, Enda Curran, and Rich Miller

March 8, 2021 at 10:01 PM UTC

Updated on

March 9, 2021 at 12:18 PM UTC

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The U.S. and China are pursuing divergent economic policies in the aftermath of the coronavirus recession in a role reversal from last time the world economy was recovering from a shock.