Prominent China Economist Issues Rare Critique of Beijing's Policies

An adviser to China's central bank has issued a rare criticism of the country's economic policies for being overly conservative. Prominent economist Huang Yiping is cited in an article saying the government has focused too much on investment, "neglecting consumption." Bloomberg's China Correspondent Minmin Low discusses the implications with David Ingles and Yvonne Man on "Bloomberg: The China Show."
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[dengist]

It's not a "critique" - it's a signal that China will change policy directions. He could not have published the article if the government did not allow him to.

[Evelyn-ix]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[Voxabonable]

I see criticism of the government on Chinese social media all the time, must be something wrong with my eyes.

[satriojumeneng]

Please don't teach the Chinese to spree money unwisely just for the sake of the economy!

[pkwong]

The Chinese government is fully capable of planning what is best for its people, its economy and its security!

[Chrn]

Currently $35 trillion in debt and heading towards $40 trillion by 2026/7.

[petergreen]

I think the Chinese government economists are capable advising on policy. What NEW insight is he contributing?

[corporateempires]

Google Yiping Huang (economist) to get a recent picture. They pulled that one from his HS yearbook! LOL🤣

[xiphoid]

With what money? Local governments are already broke under debt load and deficits, thanks to the housing crisis and loss in land value.

[parkerpeter-gd]

which article?Can you tell me the title of the article?

[thejeffinvade]

First half of 2024, Chinese government revenue is 1.15913 Trillion Yuan, spending is 1.36571 Trillion. (115913/136571）=85%, so 15% of Chinese government spending is already deficit/borrowed. I don't think the government has any more levers to pull on fiscal stimulus.

[Earthangel]

Even if it is harsh, even brutal. Allowing migrate workers to move their children to the cities creates a lot more problems than it solves. Services in cities are too expensive compared to their salaries and the transfer money is urgently needed in the rural areas. Whole villages and small towns are already vanishing and speeding up this process cannot be a good thing. People would have even less available income for consumption in both the cities and rural areas. How is this a positive?

[whitemoon]

Urbanization is long pending, if this accelerates we are are talking about huge uptick in China’s economy.

[Stockdoc]

Does anyone find it interesting that nobody is ever concerned about inflation or debt to gdp? Trust me - recessions are much better than an entire currency collapse

[freebusy]

Why offer stimulus policy when skyhigh amout of US dollar is really to be released out of US to other markets to swallow under-valued assets due to the out-flow of US dollar from these markets since this round of Fed rate rise? Also, Prof HUANG, like many other so called economist in China, shall comprehensively state the pros and cons of his proposal to different segment of the market instead of saying "this is good, this is necessary, do it".

[milkwolfcheng]

Even Xi doesn't know what he's doing 😅

[hmegadeth]

As with most East Asians, unlike the west, giving them money does not mean they will spend it. Most, as like the Japanese, will save it, which is counter to what is needed here.

[SportsIncorporated]

Yeah but. They move to the cities and have less kids.

[smokeyC-fw]

Xs"s thought waiting around the corner 😉

[America-The-Great]

And at some point this Chinese economist guy is gonna be found lifeless....😂😂😂 The CCP doesn't like criticism