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China Should Accept Higher Inflation-Yu Yongding

CHINA PRESS
MNI (Singapore)

China should continue with expansionary fiscal and monetary policies even as inflation rises to maintain relatively high economic growth to address the unemployment issue, wrote Yu Yongding, former advisor to the People’s Bank of China in an article published on the WeChat account of China Finance 40 Forum. Inflation is very likely to rise as demand rebounds and the pandemic eases. The rising pork price cycle may also come into play, said Yu. China should tolerate a higher inflation rate, though it is more of a social and political issue rather than an economic one, said Yu, without specifying the possible ceiling.

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