Chinese economy

Podcast

published: 23.10.2024

China's latest stimulus package: is it enough to save the economy?

Yuyun Zhan

Alicia Garcia Herrero

Alfred Schipke

In this Bruegel podcast, Yuyun Zhan invites Alicia García-Herrero and Alfred Schipke to explore the stimulus package China announced in late September 2024. They discuss why the Chinese government introduced these new measures, the key components of the package, especially how it addresses the real estate crisis and local government debt issues.

Garcia Herrero notes that the stimulus is increasingly resembling a rescue package, likening it to a cleanup exercise for the economy. Schipke highlights the absence of direct support for households as a gap in the current package. Finally, they discuss the need for structural reform in China’s economy.

 

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About the speakers

Yuyun Zhan

Press and communications officer at Bruegel

Alicia Garcia Herrero

Chief Economist for Asia Pacific at Natixis, Senior Fellow at Bruegel, Non-resident Senior Follow at the East Asian Institute, Adjunct Professor at the Hong Kong University of Science and Technology

Economist specialized in monetary and financial issues in emerging markets, banking crises and resolution strategies, financial development

Alfred Schipke

Professor of the Practice of International Finance, Lee Kuan Yew School of Public Policy; Director, East Asian Institute, National University of Singapore