China will not turn to global financial crisis stimulus playbook to offset US trade war, says Beijing adviser

China will not introduce another “giant stimulus programme” similar to the one seen during the 2008 global financial crisis to offset the ongoing trade war with the United States and its weakening economy, according to a leading Chinese government researcher.Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, an important think tank under the Ministry of Finance that advises Beijing on fiscal policy, said that instead, Beijing, will rely on tax reductions and budget management reform,…

source https://www.scmp.com/economy/china-economy/article/3018063/china-will-not-turn-global-financial-crisis-stimulus-playbook

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