As China moves to a more monetary-based growth model, we expect the government will surprise many by meeting any challenges that arise with long-term, policy-based solutions, instead of quick political fixes.
There’s an old saying in the retail industry – so old, it predates the online retailing revolution – that the key to success can be summed up in three words: “Location, location, location.” Something similar can be said about the key to understanding the day-to-day workings of China’s economic and monetary policies.
It comes down to three words: “Politics, politics, politics.”
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