Chinese economy: "It is important not to repeat the error of 2008-2009"

LE FIGARO. - After China, the pandemic is spreading all over the planet. What challenges will the government face in the long term?

LI WEI. -China is experiencing an unprecedented crisis. While the manufacturing sector as a whole has recovered, this is not the case for services and tourism. In the short term, the economy will gradually recover, although much remains to be done. In the long term, we are moving towards a reconfiguration of world trade. Companies around the world will diversify their production locations to depend less on China. This will have an impact on the country which will evolve from an economy geared towards production towards an economy of distribution. We also note the risks of a deterioration in China-United States relations.

Read also: The Chinese economy is slowly emerging from hibernation

China has already announced budgetary and monetary support. Does the government still have room for maneuver?

Yes. It can act on budgetary policy and on investments, a lever that it

This article is for subscribers only. You still have 60% to discover.

Subscribe: € 1 for 2 months

cancellable at any time

Already subscribed? Log in