Original Article Post Date:
Project Syndicate, Michael Spence and Fred Hu
MILAN – Uncertainty about China’s economic prospects is roiling global markets – not least because so many questions are so difficult to answer. In fact, China’s trajectory has become almost impossible to anticipate, owing to the confusing – if not conflicting – signals being sent by policymakers.
In the real economy, the export-driven tradable sector is contracting, owing to weak foreign demand.