China Looks to Stimulus to Protect National Security
Workers stand on a scaffolding in Shanghai on Feb. 27. China’s Politburo vowed to strengthen macroeconomic policies to stabilize the economy this year, suggesting more support could be coming to boost growth ahead of a key leadership meeting later this year.
Photographer: Qilai Shen/BloombergFor Beijing, everything is about national security these days. That includes economic growth—which means stimulus is on the cards.
A focus on security explains why Beijing is sticking to its ambitious growth target of “about 5.5%” despite coronavirus lockdowns and a slump in the country’s huge property sector. Chinese President Xi Jinping may be viewing GDP growth as a defense against domestic and international threats.