Chinese market depression and international pressure and Covid hedging Hu Xijin: Shocking bomb-level measures are needed


2022-05-20: [Article Link In the early 20th of the day, China’s official Global Times special commentator and former editor-in-chief commented on China’s former economy in Weibo on several occasions, he wrote in Weibo that in recent weeks a series of monetary and financial policies had been put in place in different parts of the country, but that new policies had been exhausted in the face of the precipitous effects of international shocks and epidemics in recent months, particularly the last two months. He noted that the overall confidence surrounding the economy is still weak and the market climate is still low. He mentioned that fighting against "flood beasts" such as international pressure and the Covid-19 virus would require a "shock bomb"-like approach. Houthi pointed out that the central government was determined to take measures to reverse the current adverse economic situation, reiterated its support for the platform’s private economy and declared that it would increase confidence and stability for large market owners. However, there are still some who are hesitant and keen to see. It is certainly important for the country and everywhere to take more measures to push the market up. “It goes without saying that the overall confidence surrounding the economy is still weak, and the market climate continues to be subdued.” Huxi suggested that China, in addition to its basic policy statement, “I am afraid that the toolbox needs to be fully opened, and that there are many more tools in it.” I’m afraid it’s going to take a different kind of "shock bomb" to fight a flood beast like the international pressure and the Covid-19 virus." According to Hu Xin, the current employment pressure is high, the unemployment rate among young people is high, and many working people have become unfamiliar with the pay hikes of the previous years, and are actually worried about the fact that they have been reduced or even laid off. “If this situation is not reversed, and if the public is reassured by slogans, such market confidence will not work. So it is important to make the business good, and to sustain the rise in the wages of society as a whole.” The Chinese economy has not yet fully resumed. He continued that consumption was the driving force behind China’s growing economy, but in April the gross amount of social consumption retailed had fallen by 11.1 per cent on the same basis, so that the population would have to be rich and had to have good expectations. The view that China should work on high-tech development is one-sided. He mentioned that any society’s main economic activity must be around food, clothing, and housing, with a high percentage of both households and businesses. While China is insisting on "sheltering" and solving the congestion of roads in large cities, there is also a large amount of space for the release of housing and the reasonable needs of the car market, and more policy is needed than reducing the interest rate on housing loans. It suggests that if people live in a better house, if they want to buy a car, the city can buy a car, they can solve whatever difficulties they need. Market tools and special housing policies are working at the same time, and there is a risk that the Chinese housing and car markets will lead to new prosperity that will drive the economy as a whole. Hu Xianjin also said that after the 18th century, the country placed a high priority on economic reform, and that the 19th had set the strategic goal of a two-step process of full-scale socialism as a modern and powerful nation. In practical terms, a good economy is a permanent prerequisite. Viet Nam exported more than Shenzhen in March, triggering debate in the interior. “When our economy slows down, not only domestic contradictions will erupt, but the world’s attitude to us will change badly. In these years, China’s economy will generally outpace US expectations in 10 years, which would make it easier for the US to engage with some of the West and some of China’s surrounding countries to deal with us together if they become less substantial.” At the end of the text, it was mentioned that, during the current special period, the greatest possible support for the economic confidence of the public had to be provided everywhere. Hu Xi argues that it is the greatest political correctness, and the time papers everywhere that need to be answered, to “reveal the Chinese economy before 2019, and to rebuild the strength of the Chinese economy’s reversion to global recovery in the first two years of the epidemic.” Earlier, Hu Xijin stressed the importance of the market economy and the economy of the private sector in Weibo on 17 and 18 consecutive days. On Wednesday evening, he wrote that Weibo, citing the previous day’s Weibo, “Following up on this signal, forsaking suspicion and suspicion, hugging new opportunities, will prove to be real business heroes, heroes of the times,” and stressed that China’s economy must never fall, “to keep the economy healthy, it must take the market and the rule of law.” On May 17, the official newspaper "People's Day", entitled "Empowerment of Confidence and Stability for the Theme of the Grand Market", was placed in a red frame, pointing out that "this is a very important signal." Keep up with this signal, forsake doubt and shame, and embrace new encounters will prove to be real business heroes, time heroes."


Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.



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Chinese market depression and international pressure and Covid hedging Hu Xijin: Shocking bomb-level measures are needed


2022-05-20: [Article Link In the early 20th of the day, China’s official Global Times special commentator and former editor-in-chief commented on China’s former economy in Weibo on several occasions, he wrote in Weibo that in recent weeks a series of monetary and financial policies had been put in place in different parts of the country, but that new policies had been exhausted in the face of the precipitous effects of international shocks and epidemics in recent months, particularly the last two months. He noted that the overall confidence surrounding the economy is still weak and the market climate is still low. He mentioned that fighting against "flood beasts" such as international pressure and the Covid-19 virus would require a "shock bomb"-like approach. Houthi pointed out that the central government was determined to take measures to reverse the current adverse economic situation, reiterated its support for the platform’s private economy and declared that it would increase confidence and stability for large market owners. However, there are still some who are hesitant and keen to see. It is certainly important for the country and everywhere to take more measures to push the market up. “It goes without saying that the overall confidence surrounding the economy is still weak, and the market climate continues to be subdued.” Huxi suggested that China, in addition to its basic policy statement, “I am afraid that the toolbox needs to be fully opened, and that there are many more tools in it.” I’m afraid it’s going to take a different kind of "shock bomb" to fight a flood beast like the international pressure and the Covid-19 virus." According to Hu Xin, the current employment pressure is high, the unemployment rate among young people is high, and many working people have become unfamiliar with the pay hikes of the previous years, and are actually worried about the fact that they have been reduced or even laid off. “If this situation is not reversed, and if the public is reassured by slogans, such market confidence will not work. So it is important to make the business good, and to sustain the rise in the wages of society as a whole.” The Chinese economy has not yet fully resumed. He continued that consumption was the driving force behind China’s growing economy, but in April the gross amount of social consumption retailed had fallen by 11.1 per cent on the same basis, so that the population would have to be rich and had to have good expectations. The view that China should work on high-tech development is one-sided. He mentioned that any society’s main economic activity must be around food, clothing, and housing, with a high percentage of both households and businesses. While China is insisting on "sheltering" and solving the congestion of roads in large cities, there is also a large amount of space for the release of housing and the reasonable needs of the car market, and more policy is needed than reducing the interest rate on housing loans. It suggests that if people live in a better house, if they want to buy a car, the city can buy a car, they can solve whatever difficulties they need. Market tools and special housing policies are working at the same time, and there is a risk that the Chinese housing and car markets will lead to new prosperity that will drive the economy as a whole. Hu Xianjin also said that after the 18th century, the country placed a high priority on economic reform, and that the 19th had set the strategic goal of a two-step process of full-scale socialism as a modern and powerful nation. In practical terms, a good economy is a permanent prerequisite. Viet Nam exported more than Shenzhen in March, triggering debate in the interior. “When our economy slows down, not only domestic contradictions will erupt, but the world’s attitude to us will change badly. In these years, China’s economy will generally outpace US expectations in 10 years, which would make it easier for the US to engage with some of the West and some of China’s surrounding countries to deal with us together if they become less substantial.” At the end of the text, it was mentioned that, during the current special period, the greatest possible support for the economic confidence of the public had to be provided everywhere. Hu Xi argues that it is the greatest political correctness, and the time papers everywhere that need to be answered, to “reveal the Chinese economy before 2019, and to rebuild the strength of the Chinese economy’s reversion to global recovery in the first two years of the epidemic.” Earlier, Hu Xijin stressed the importance of the market economy and the economy of the private sector in Weibo on 17 and 18 consecutive days. On Wednesday evening, he wrote that Weibo, citing the previous day’s Weibo, “Following up on this signal, forsaking suspicion and suspicion, hugging new opportunities, will prove to be real business heroes, heroes of the times,” and stressed that China’s economy must never fall, “to keep the economy healthy, it must take the market and the rule of law.” On May 17, the official newspaper "People's Day", entitled "Empowerment of Confidence and Stability for the Theme of the Grand Market", was placed in a red frame, pointing out that "this is a very important signal." Keep up with this signal, forsake doubt and shame, and embrace new encounters will prove to be real business heroes, time heroes."

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

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