What Does China’s Stimulus Mean for Your Money?
China is in a balance-sheet recession, so even ultraloose monetary policy may not help.
Pedestrians in Beijing at a crossroads, a bit like the economy, which is strained, a bit like this visual metaphor.
Photographer: Na Bian/BloombergWelcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
At the start of this year I said that China was the obvious contrarian play for 2024.