Financial analyst Victor Shih dives into China’s fiscal policies. Most of the country’s expenditure has traditionally been only for a marginal percentage on consumption, but on government investments. So, while consumption has gone down, the way to push the economy ahead is not to encourage consumption, but government spending, he argues. He turns against the current government policy of austerity at local governments; it should move in the opposite direction, he argues at the Asia Society, Northern California chapter.
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