Economics
China Sees Tough Battle in Boosting Growth Without Debt Blowout
- Premier Li announces almost 2 trillion yuan of tax cuts
- Annual growth target lowered to a range of 6 to 6.5 percent
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China needs to brace for a “tough economic battle ahead,” in the words of its premier.
It’s a struggle on two main fronts: there’s U.S. President Donald Trump and his demands to cut away support for state firms or face lingering tariffs, while at home there’s the tussle to help struggling private firms without ramping up debt to even more unsustainable levels.