October 13, 2024

China’s plan to boost flagging growth is the very definition of economic insanity

Claudio Ctin1 mins
China’s plan to boost flagging growth is the very definition of economic insanity

For the fourth time in 16 years ‘bazooka’ stimulus aims to reset the economy – but China’s problems demand structural solutions

China’s leaders seem to have invoked the definition of insanity, attributed, perhaps wrongly, to Einstein: doing the same thing over and over again, and expecting different results.

For the fourth time in 16 years, Beijing has been spooked by faltering growth into adopting an array of economic stimulus measures designed to reset the economy. It didn’t work for long in 2008, 2015, or 2021, and the “bazooka”“measures announced recently will also most likely come up short.

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