Chinese yawnulus another bust

Wednesday 31 July 2024

Goldman with the note.

President Xi chaired the July Politburo meeting today (30 July) and policymaker sreinforced their pro-growth policy tone for the second half of this year, echoing the “Third Plenum” communiqué.

Compared to the April Politburo meeting, policymakers appeared more concerned about near-term growth headwinds, reiterated their pledge to achieve the full-year growth target, and called for strengthening the counter-cyclical policy adjustments (stimulus).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.