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Executive Comment: China's Underdeveloped Bond Market Hinders Effective Fiscal Stimulus And Increases Risks Mar 09
Standard & Poors, March 2009
As the global economy braked sharply in the final quarter of last year, China rolled out its massive Chinese yuan (CNY) 4 trillion fiscal stimulus package. At the time, the package was widely regarded as a sign of the Chinese government's intention to play safe by providing an ample cushion for the economy. Now, however, the package seems barely enough to keep economic growth at a decent rate in 2009. A second stimulus is reportedly in the planning stage. If not for the government's early and forceful push, it is unlikely that real GDP growth will reach anywhere near the 6.5% rate that Standard & Poor's expects this year. So, while other parts of East Asia face a year of...
Companies mentioned in this report are: China (People's Republic of )
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
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China (People's Republic of )