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China Rate Cuts Not Enough to Stabilize Economy: Ex-PBOC Adviser

  • Yu Yongding says more expansive fiscal policy needed
  • Beijing has called for increased infrastructure spending
General Views of Beijing
Photographer: Andrea Verdelli/Bloomberg
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Looser monetary policy in China won’t be sufficient to stabilize the economy, a former adviser to the central bank said, arguing that the government needs to speed up spending as well.