Deflation, and China
DEFLATION IS PERSISTENT, generalised decline in price levels in an economy. While the other major economies are battling stagflation (low growth-high inflation) with monetary tightening and fiscal correction, China has started experiencing stagnation.
The recovery of the world's second-largest economy after its tight Covid curbs appeared quick initially, but has since proved to be slow. Consumer demand is tepid. Both the relevant indices-consumer price index (retail) & producer price index (factory gate)slipped to the deflationary zone in July, with y-o-y decline of 0.3% and 4.4%, respectively. For CPI, this is first fall since February 2021, while PPI has declined for the 10th month in a row. The Chinese economy grew 6.3% in Q22023, against 4.5% in Q1-but that was largely because of the base effect.
Consequences for China & likely policy reaction
هذه القصة مأخوذة من طبعة August 12, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 12, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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