Hiking the rmb by 5% per year should be a long term action that should be done anyway.
Chinese Economics Thread
- Thread starter Norfolk
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When it comes to reopening China from Covid, I actually stumbled upon this article:
Furtune here reports on Guangzhou papers article where Zhong Nanshan, one of China’s top epidemiologists and government advisers, said: “Why are we still employing strict measures to prevent and control the disease?” Zhong asked in an interview with Southern Weekly, a newspaper based in Guangzhou. “Our vaccination rate has not reached 80%–85% yet.”
While not a confirmation in itself, that quote could shed some light as to conditions that China desires to start changing its zero-covid policy.
Furtune here reports on Guangzhou papers article where Zhong Nanshan, one of China’s top epidemiologists and government advisers, said: “Why are we still employing strict measures to prevent and control the disease?” Zhong asked in an interview with Southern Weekly, a newspaper based in Guangzhou. “Our vaccination rate has not reached 80%–85% yet.”
While not a confirmation in itself, that quote could shed some light as to conditions that China desires to start changing its zero-covid policy.
China will make flexible adjustments to allow market-based coal-fired electricity prices to be raised by up to 20 percent from the benchmark, part of its efforts aimed at guaranteeing winter heat and electricity supply while several coal-producing provinces such as North China's Inner Mongolia Autonomous Region have already moved to boost the production.
This should end the energy crisis. However it will also increase industry costs which will result in inflation.
You win some, you lose some
Since the anglos have yet to really accomplish the list that Sherman was given, they can keep enjoying China's exported inflation.