10 Questions
True or false:According to a government advisor, China's economic growth may fall below 6% in Q4 2019 or in 2020.
True
True or false: The US sanctions have not affected China's GDP.
False
True or false: Yao Jingyuan is a politician in China.
False
True or false: China has managed to stabilize employment, finance, trade, and foreign investment despite the trade war.
True
True or false: The government had set a growth target of 5-5.5% for 2019.
False
True or false: Yao recommends setting the growth target for 2020 at a minimum of 6% to ensure employment and business profits.
True
True or false: Yao suggests letting the budget deficit rise to 1% of GDP to support economic activity.
False
True or false: Yao believes there is room to lower interest rates and reserve ratios for banks in China.
True
True or false: Yao thinks that China has no advantage over the US in facing difficulties.
False
True or false: Local authorities in China used to manipulate economic growth figures, but the Xi Jinping regime has put an end to this practice, according to Yao.
True
Study Notes
- China's economic growth could fall below 6% in Q4 2019 or in 2020, according to a government advisor.
- The US sanctions have caused China's GDP to slow down to 6% in Q3, the lowest in 27 years.
- The economist Yao Jingyuan said that China is facing the biggest challenges in its history.
- Despite the trade war, China has managed to stabilize employment, finance, trade, and foreign investment.
- The government had set a growth target of 6-6.5% for 2019.
- Yao recommends setting the growth target for 2020 at a minimum of 6% to ensure employment and business profits.
- He suggests letting the budget deficit rise to 3% of GDP to support economic activity.
- Yao believes there is room to lower interest rates and reserve ratios for banks.
- China has a political advantage over the US in facing difficulties, according to Yao.
- He acknowledges that local authorities used to manipulate economic growth figures, but says the Xi Jinping regime has put an end to this practice.
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