, Columnist
China Is Too Rich to Splurge on Infrastructure
As countries get wealthier, additional spending is unlikely to deliver the same kick to growth. Take any ambitious plans with a degree of caution.
Up, up and up.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
How much more stimulus can the Chinese economy take?
It’s a question of crucial importance after Beijing unveiled its 2020 economic policy plans Friday. China’s 4 trillion-yuan ($562 billion) stimulus package in the wake of the global financial crisis paved the way for its transformation over the past decade. In the 2000s, the country was a low-cost assembly room for the world’s supply chains. Now it’s an increasingly confident middle-income power, with a burgeoning consumer class and world-beating infrastructure.