Name: 冠狀病毒：中國會拯救世界經濟嗎？| 拯救世界經濟？ (Coronavirus: will China rescue the world economy? | FT)
Uploaded: 2021-01-14T10:13:52.000Z
Duration: 3 min 36 s
Description: 【看影片學英語】數萬部 YouTube 影片，搭配英漢字典即點即查，輕鬆掌握單字發音與用法，長久累積看電影不必再看字幕。學這些英文用法：武漢肺炎,新型冠狀病毒,新冠肺炎,COVID-19

As China starts to recover from the coronavirus

and the rest of the world feels the full impact

of the pandemic, Beijing is turning its attention

to the outside world, sending out masks, ventilators,

and doctors to alleviate the humanitarian crisis.

But there's another big question about China's role.

just as it did after the great financial crisis of 2008?

Back then Beijing launched a $590bn stimulus package

that got the Chinese economy firing again.

The first is how quickly its own economy can bounce back

from the huge virus-induced slump in the first quarter

of the year, and the second is the extent

the speed at which China's economic cylinders are starting

So far, it's showing a measured recovery.

which is shown by the red line, is lagging behind the grey

If we break out the constituents of that line,

you can see that some parts of the economy

The amount of real estate sold, coal used in power stations,

and traffic on the streets are all showing an upward trend,

demonstrating that the economy is in recovery mode.

But other readings, such as cinema tickets sold,

container freight shipped, and the levels of pollution

Most economists are predicting that this recovery

And China will experience a sharp snapback in growth

After all, China has accounted for around one third

if China also launches a stimulus package

is neither able nor willing to launch a big bazooka again.

Back in 2009 China's debt levels to GDP were modest.

Now they are excessive, with Chinese bank loans

According to Rhodium, a consultancy, most Chinese bank

lending is used merely to cover interest payments

This leaves very little spare for new investments.

All this presents Beijing with an unpalatable choice.

It could carry on with the policy of reducing indebtedness

of an economic slowdown, or it could loose off another credit

bazooka to stimulate the economy but thereby risk burying itself

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冠狀病毒：中國會拯救世界經濟嗎？| 拯救世界經濟？ (Coronavirus: will China rescue the world economy? | FT)

eventually

equivalent

pandemic

demonstrate