China’s most effective tool to revive consumption may be the simplest: a one-off distribution of 3,000 yuan (US$424) per person – funded by special sovereign bonds and valid for one year – could immediately lift demand, boost gross domestic product growth and help break the deflationary cycle that has taken hold since 2022. This proposal comes as China prepares to announce its 15th five-year plan, with policymakers expected to target around 5 per cent growth amid a sluggish post-pandemic…
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