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Global Downturn Impact on China Limited: Daily Cites Advisor

CHINA PRESS
MNI (Sydney)

China is mostly immune from the global downturn caused by the pandemic as only about 5% of its economy is exposed to external turbulence through the trading of goods, the People's Daily reported citing Li Daokui, a former monetary policy advisor to the People's Bank of China. China should continue to tap into its huge and growing middleclass and not be distracted by the short-term uncertainties posed by the U.S., Li said according to the Daily. Efforts to boost spending on automobiles, tourism and dining should be made in H2 to help drive sluggish consumption, Li said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
Energy BulletsCommodities
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
Energy BulletsCommodities

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