China Isn’t Going to Save the World This Time, Macquarie Says
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China will avoid a massive stimulus injection to boost its post-pandemic economy like the one delivered after the 2008-09 global financial crisis as it has learned its lesson, said Ric Deverell at Macquarie Group Ltd.
“China’s not going to save the world this time,” Deverell, chief economist at Macquarie, said Wednesday on Bloomberg Television in Sydney. “Part of the reason they’re not going to save the world is that they overstimulated in 2010. So they recognize they made a mistake.”