China, No Plan for Stimulus

Mientras China no responda con medidas enérgicas para acelerar y recuperar su economía el riesgo de una desaceleración global en en mediano plazo no queda descartado. Actualmente y bajo las condiciones de crecimiento tan parco en Estados Unidos y Europa apenas librando en papel la recesión, la perspectiva de un crecimiento futuro no se ve claro.

Podemos esperar una preferencia por tasas nominales en Estados Unidos y países emergentes no vinculados directamente con China.

China, No Plan for Stimulus:

China has no plan to introduce stimulus measures on the scale deployed during the global financial crisis to counter this year’s economic slowdown, the official Xinhua News Agency reported.

“The Chinese government’s intention is very clear: It will not roll out another massive stimulus plan to seek high economic growth,” Xinhua said today in the seventh paragraph of a Chinese-language article on economic policy, without attributing the information. “The current efforts for stabilizing growth will not repeat the old way of three years ago.”

Premier Wen Jiabao last week called for a greater focus on growth in the world’s second-largest economy, spurring speculation the nation would step up measures to boost expansion that’s set to slow for a sixth straight quarter. The benchmark Shanghai Composite Index has gained 1.7 percent since the comments were published May 20.

The tilt toward supporting expansion followed data showing trade below forecasts in April and industrial production rising the least since 2009. Europe’s debt crisis and austerity measures are threatening exports.

The Xinhua article made no mention of central bank tools including interest rates and the reserve-requirement ratio, previously used to bolster growth. It carried the byline of two reporters and wasn’t labeled as opinion or commentary.

Bloomberg