A top Chinese economist has issued a warning over the risks of overreliance on stimulus for short-term growth, including driving debt to unsustainable levels.

Newsweek has contacted China's Foreign Ministry for comment by email.

Why It Matters

The Chinese government was slow to roll out a major stimulus package following the COVID-19 pandemic, as economic growth slowed and consumer demand flagged. Burdened by a real estate crisis and high levels of local government debt, President Xi Jinping emphasized "high-quality development" and selective investment over broad stimulus.

Some analysts argue that the measures that did arrive were too modest to put the world's second-largest economy on surer footing.

What To Know

Liu Xiaoshu, the chief economist at the Bank of Qingdao and direc

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