, Columnist
China Inc. Is Battling a Crisis of Confidence
Easing measures have done little to inspire optimism in the industrial sector. There’s no quick fix for this one.
Idle hands.
Photographer: Qilai Shen/Bloomberg
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China’s industrial sector is facing a crisis of confidence. So far, Beijing’s solutions haven’t been enough to shore it up.
In response to streams of gloomy data — from retail sales and industrial profits to layoffs — officials have vowed billions of yuan in support for railway infrastructure investment, employment incentives, tax cuts and loan disbursements. China watchers are now forecasting a deeper slowdown and have put the big-spending Chinese consumer on life support.