China Economy

Chinese deflation intensifies

David Llewellyn-Smith
Monday 14 October 2024
Advertisement

It is not at all clear to me that Xi Jinping dislikes deflation.

It makes his economy more competitive, it delivers much easier growth targets via the negative GDP deflator, and it keeps the heat on deleveraging.

These are all his stated policy goals.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
Twitter Share
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.