After China's top policymakers warned that China is facing increasing downward pressure and pledged more active fiscal policies including higher spending on infrastructure construction. That leads to a question: is it necessary to raise the budget deficit ratio above 3 per cent of GDP next year after?
Many prominent economists in China have joined the league urging for a rise in budget deficit, believing that China should make its policies based on the economic situation instead of just focusing on cutting debt levels.
Yu Yongding, a prominent economist in China and former advisor to the People's Bank of . . .
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