China Premier Vows No Massive Stimulus As Beijing Launches Massive Stimulus

Original post

When it comes to China, the past decade revealed two things beyond a shadow of a doubt: i) all of the country’s economic data is utterly meaningless as it is entirely fabricated (in this measure it is not much different from other developed nations), goalseeked to fit a specific political narrative, and ii) Beijing has an annoying Trotskyite habit of doing precisely what it vows not to do or accuses others of doing.

A good example of the latter was again observed last night, when Premier Li Keqiang said that China will stick to its current targeted economic support strategy and resist the temptation to engage in large-scale stimulus like quantitative easing or a massive expansion in public spending.

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