SMELLING THE COFFEE: EXTENSIVE MEASURES BY THE CHINESE CENTRAL BANK
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- SMELLING THE COFFEE: EXTENSIVE MEASURES BY THE CHINESE CENTRAL BANK
Difficult times are ahead for the global economy and red flags abound. The IMF’s global economic projections indicate a growth rate of 3.2% in 2024 with balanced risks and 5% GDP growth in China, the world's second-largest economy. What injects an element of conjecture and speculation in the overall scenario is the disarray in the Chinese economy and “the trilemma of the central banks” (Gita Gopinath) transcending the traditional dilemma of reducing inflation without significantly damaging growth and avoiding financial instability. An unenviable situation!