China's Economic Revival Measures

This is a China news story, published by MSN, that relates primarily to Peter Bergen news.

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Chinese household wealth

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Xi Jinping just fired his giant money cannon at the wrong target

Summary

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79% Informative

Beijing announced measures to try to reinvigorate China 's croaking economy.

Peter Bergen : Announcements sent Wall Street into a state of rapture, hoping that the Chinese Communist Party is now prepared to catch a falling knife.

He says Xi Jinping has done little to stop the bleeding in the country's property market or get China 's ailing consumers to start spending money again.

Bergen says Xi 's Beijing lacks the will and the power to turn China 's economy around.

Wall Street's excitement misses another key problem: The measures aren't even all that big.

The Chinese Communist Party has a bubble on its hands, and it doesn't want to blow much more or see it burst in spectacular fashion.

The price of that action is massive debt built up all over the financial system, held especially by property companies.

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semi-formal

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English

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