PBOC Surprise Suggests China’s Outlook Is Truly Dire

(Bloomberg Opinion) — China’s faltering economy requires a lifeline from the central bank, regardless of admonitions that inflation is creeping higher and needs to be contained. With growth struggling and demand for credit cratering, the People’s Bank of China has made it clear that it’s the recovery first. Price increases might be worrying, but are a second order problem — for now. Beijing must consider the outlook dire.

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