China’s economic buzzwords explained, from ‘common prosperity’ to ‘dual circulation’
Published
Sep 12 2021 at 12:15 PM GMT
Key
Points
Points
- China is writing a new chapter in its development strategy, and its using a host of terms that do not appear in mainstream macroeconomic textbooks.
- Here are some of the buzzwords on the lips of the nation’s leaders.
- 1 Cross-cyclical adjustmentThe term refers to policy actions across business cycles and first appeared in a July statement from the Politburo, the 25-member decision-making body headed by President Xi Jinping.
- It marks a shift from countercyclical policies, which are direct fiscal….
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- Published Sep 12, 2021 12:15 PM GMT