Chinese political leaders, including teh president Xi jinpingannounced that next year they want to “make the country’s monetary policy more flexible,” at a time when Beijing tries to stop the slowdown of the world’s second economy.
This change in official discourse sets the tone shortly before an important economic conference that could outline new support measures this week.
The announcement also comes a month before the return of Donald Trump to the White House,who has threatened to raise US tariffs on Chinese exports at the risk of undermining an engine of Chinese growth.
The 24 members of the Political Bureau of the Central Committee of the Communist Partya key decision-making body, met on Monday to “analyse and study” future economic measures in 2025, according to the state news agency Xinhua.
“We have to strongly stimulate consumption, improve the efficiency of investments and globally expand domestic demand,” the leaders declared.
“Next year, we should (…) apply a more proactive fiscal policy and an adequate easing of monetary policy,” they added.
This change in tone caused euphoria in the markets, which were awaiting any sign of greater economic stimulus from Beijing: in the Hong Kong Stock Exchange, the Hang Seng Index rose around 3% shortly before the close.
This intention “shows that the goverment recognizes the urgency of the economic challenges facing China,” according to SG Markets.
The world’s second-largest economy is still trying to avoid the specter of deflation, triggered by a serious real estate crisis and consumption levels well below those seen before the pandemic.
For several months now, Beijing has multiplied plans to stimulate the economy, including a reduction in interest rates and an increase in the debt ceiling for local governments.
In October, the central bank also announced cutting two key interest rates to historically low levels.
they see risks…
The prime minister of China, Li Qiang, He warned that “deglobalization” subjects the world economy to growing tension, as he received the heads of multilateral financial institutions in Beijing.
“In the context of the current weak global economic growth, uncertainty (…) has increased, causing great interference in the operation of the world economy,” li declared at the meeting of multilateral organizations, such as the World Bank and the International Monetary Fund (IMF).
He added that “the number of new discriminatory measures in trade and investment have increased annually in the world” as 2020.
“It can be said that the trend of deglobalization is getting worse,” Li added, opening the “1+10 Dialog” summit in Beijing.
The heads of the 10 main international economic organizations participate in this summit, including the New Development Bank, chaired by Brazilian Dilma Rousseff.
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What are teh key technological advancements that have shaped modern timekeeping?
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Interview with [Expert Name], Timekeeping Historian
Time.news Editor: Welcome, [Expert Name]. It’s a pleasure to have you with us today!
[Expert Name]: Thank you for having me! I’m excited to discuss this fascinating subject.
Time.news Editor: Let’s dive in. Timekeeping has evolved tremendously over the centuries. can you share some of the most significant developments in this field?
[Expert Name]: Absolutely! One of the most notable developments was the invention of the mechanical clock in the 14th century, which allowed for more accurate time measurement than ever before. Additionally, the introduction of the pendulum clock in the 17th century revolutionized timekeeping.
Time.news Editor: That’s intriguing! How did these advancements impact society’s perception of time?
[expert Name]: The advent of mechanical clocks dramatically shifted how people viewed time—it became more structured and regimented. For instance, the standardization of time helped coordinate activities in growing cities and during the Industrial Revolution.
Time.news Editor: Speaking of the Industrial Revolution, how did it change our relationship with time?
[Expert Name]: Great question! The Industrial Revolution necessitated precise timing for factories, leading to a culture of punctuality. This shift also laid the groundwork for time zones,as schedules became vital for railroads and telegraphs.
Time.news Editor: Time zones indeed transformed global interactions. Can you explain how the concept of time zones came to be?
[Expert name]: Certainly! Before time zones, time was determined locally, which created chaos with the rise of rail travel. In 1884, the International Meridian Conference established the prime meridian, creating a system of standard time zones that we still use today.
Time.news Editor: Fascinating! With today’s technology, we’re now exploring atomic clocks and GPS systems. What does the future of timekeeping look like?
[Expert Name]: The future is quite exciting! Atomic clocks have pushed the boundaries of precision, and with advancements in quantum technology, we might see even more accurate timekeeping devices. This could have major implications for everything from navigation to scientific research.
Time.news Editor: It sounds like timekeeping will continue to evolve.Any final thoughts on the importance of understanding our relationship with time?
[Expert Name]: Timekeeping is not just about clocks—it’s about how we structure our lives.Understanding its history can give us insight into our society and how it functions today. Time is truly a fascinating and multifaceted topic!
time.news Editor: Thank you, [Expert Name], for sharing your insights with us today. It’s been a pleasure discussing timekeeping with you!
[Expert Name]: Thank you! I enjoyed it!
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