What Does Dropping GDP Target Say About China's Policies?

May.21 -- Michael Pettis, finance professor at Peking University, talks about China's economy and policies. China has abandoned its usual practice of setting a numerical target for economic growth this year due to the turmoil caused by the coronavirus pandemic, according to the text of Premier Li Keqiang’s annual policy address. Pettis speaks on "Bloomberg Markets: Asia."

[davidl]

I don’t see how this is good news for China, covid and tension with the West makes it almost impossible for China to forecast an optimistic scenario. I don’t think there is enough confidence with any projections for some of the largest economies once you factor in a 2nd wave and vaccine timelines.

[jasonmelbaus]

Just because the CCP has not advised a GDP target does not mean they have not set one.

[ronfan]

One of major liquidity providers via selling puts is saying good bye to the world economy

[ginNjus]

Not much as their GDP is not based on Western models.