Macroeconomic Policy and Steady Growth in China: 2020 Dancing with the Black Swan

ISBN-13: 9781032033358 / Angielski / Twarda / 2021 / 302 str.

Zhang Xiaojing

Opis

This book applies a new theoretical framework based on a balance sheet approach and macro-financial linkage analysis to analyse macroeconomic trends in China for 2020. Uncertainties brought about by Covid19 have necessitated a policy of steady growth.

Spis treści

Preface. Part I Introduction. 1. Dancing with the black swan: the balance between economic growth and risk in a new paradigm (Zhang Xiaojing). Part II Stabilizing Growth. 2. The analysis and prospects of consumption (Li Cheng). 3. The analysis and prospects of investment in fixed assets (Liu Xueliang). 4. The analysis and prospects of international trade (Zhang Ying). Part III Stabilizing Leverage. 5. Analysis of the household leverage ratio (Zhang Xiaojing, Chang Xin and Liu Lei). 6. The analysis of the corporate leverage ratio (Zhang Xiaojing, Chang Xin and Liu Lei). 7. The analysis of government leverage ratio (Zhang Xiaojing, Chang Xin and Liu Lei). 8. The analysis of financial leverage ratio (Zhang Xiaojing, Chang Xin and Liu Lei). 9. The estimation of local governments’ hidden debt and its risks (Liu Lei). Part IV Stabilization Policy. 10. Analysis and outlook for fiscal policy (Liu Lei). 11. Analysis and outlook for monetary policy (Chen Hanpeng). 12. The global economic predicament and the transformation of China’s macroeconomic policy (Tang Duoduo). Afterword.