US Treasury Signals China’s Stimulus Unveil Still Falls Short
- Treasury’s Shambaugh reacts to Beijing’s announcements
- China’s leaders pledged actions to meet growth target
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The US Treasury’s top international official welcomed fresh pledges from China’s leadership to bolster economic growth, while urging Beijing to follow up with meaningful actions.
“It’s an important step that they are acknowledging that domestic demand needs to go faster and that they need to support their growth with consumption and with domestic demand,” Jay Shambaugh, the Treasury undersecretary for international affairs, said in an interview on Bloomberg Television’s Balance of Power.