Daniel Moss, Columnist

Economic Firepower Is Fine. But Let’s Spare the Bazooka

China’s stimulus measures are encouraging, but military metaphors aren’t always useful. Some have a troubled past. 

Central banking isn’t World War II.

Source: Hulton Archive/Archive Photos

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China’s latest effort to shore up the economy and buttress markets is commendable — all the more so if the follow-up is resolute. In tough times, it’s vital policymakers get ahead of markets, or at least don’t allow themselves to be seen as constantly playing catch-up. Taking the initiative counts, but military metaphors only go so far. They can obscure as much as enlighten.

The package rolled out Tuesday was noteworthy in content and delivery. Markets were enthusiastic, at least for a day. Battlefield imagery was everywhere: A stimulus “blitz” had been unleashed. The measures, which included an interest-rate cut and steps to assist the stock market, amounted to a “barrage.” Cash handouts will be given to people in extreme poverty. And, of course, no policy shift would be complete without “bazooka.” That tag probably shouldn’t be used to bestow praise. It has a tumultuous history.