China's economy is not done growing

Government can counter doomsayers by expanding fiscal stimulus

Yu Yongding

November 7, 2023 17:00 JST

A Beijing factory of Japan's SMC Corp.: Experience has shown that anyone rushing to predict the decline of the Chinese economy risks putting their reputation on the line. © Reuters

Yu Yongding is chairman of the Shanghai Finance Institute's Shanghai Pu Shan New Finance Development Foundation and a former member of the People's Bank of China's Monetary Policy Committee.

With China's gross domestic product growth expanding more slowly than expected in the post-COVID period and the debt problems of real estate developers and local governments continuing to worsen, many in the West are saying that the country's economy is in trouble.