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Title : China Pumps Money Into Its Economy As The Trade War Bites Into Its Economic Growth
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China Pumps Money Into Its Economy As The Trade War Bites Into Its Economic Growth

The Guardian: China pumps $109bn into economy as trade war bites on growth

Central bank slashes the reserve requirements for banks, freeing extra cash for infrastructure and businesses.

China has slashed the amount of cash some of its banks must hold in reserve as Beijing’s leadership seeks to bolster a flagging economy.

As higher US interest rates and fears of a trade war piles pressure on economies around the world, China’s central bank said on Sunday that it was cutting the reserve requirement ratios (RRRs) by one percentage point from 15 October to lower financing costs and spur growth in the world’s second-biggest economy.

The reserve cut, the fourth by the People’s Bank of China (PBOC) this year, came after Beijing pledged to speed up plans to invest billions of dollars in infrastructure projects as the economy shows signs of cooling further.

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Update: China to Pump $175 Billion Into Its Economy as Slowdown and Trade War Loom (The New York Times).

WNU Editor: Making it easier for Chinese banks to lend money is not going to solve the hit that China is now experiencing from U.S. tariffs. This is going to get worse, and I do not see how China can extradite itself successfully from a trade war with its number one overseas customer. Bottom line .... China expects growing trade deficits with the U.S. to finance its growth and development. They never expected that the day would arrive when the U.S. would say no more.

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