China’s 2009 policy outlook: It’s not just the thought that counts

Overview

China’s ambitious policies to contain the accelerating downturn have been announced in piecemeal fashion and surrounded by equally disjointed data releases. In this last China research note of 2008, we untangle the available information to provide a platform for assessing where the priorities will lie in 2009 and what factors will affect the stimulus programme of fiscal, monetary, employment and consumption measures. For the leadership, cushioning the decline in growth is essential for...