CHINA-ECONOMY: INTERNAL DEBATE WHETHER GOVERNMENT SHOULD SET TARGET GROWTH RATE
The Chinese magazine Caixin reported (April 2) that a major debate is heating up among economists and Chinese government advisers over whether the country should abandon its annual growth target this year given the huge uncertainties facing both domestic and external demand as a result of the coronavirus pandemic. Yu Yongding, one of China’s most influential economists and a former central bank adviser, is among the latest to add his voice to the discussion, urging the government to stick with its tradition of issuing a numerical goal for expansion in gross domestic product (GDP), even if it is a low one. The government has not officially released its GDP growth target for 2020.
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