August 21, 2020  |  Finance

[Report] Why China’s fiscal bazooka is firing blanks

Chinese policymakers’ effort to transition away from monetary and credit-led stimulus toward direct on-budget fiscal channels to support the economy is hitting roadblocks. Fiscal expenditure so far this year has significantly lagged the target for 2020 set in the May budget, with central officials becoming increasingly vocal about the need to speed up spending.

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