Wednesday , November 6 2024
Home / Mike Norman Economics / Zero Hedge “The Comments Are Highly Important” [Goldman]: China’s Xi Reportedly Indicated Desire To Avoid Strong Stimulus

Zero Hedge “The Comments Are Highly Important” [Goldman]: China’s Xi Reportedly Indicated Desire To Avoid Strong Stimulus

Summary:
Overnight, Goldman confirmed as much, writing that President Xi participated at group discussions at the Two Sessions on Friday, with some of his comments reported on Saturday. Notably he said if it were not because of the pandemic, the growth target would be set at around 6%. He added that a global recession is guaranteed, and given this, if a numerical target (implicitly at a relatively high level) was set, it would require a strong stimulus and the focus of the government would be on the growth rate. He said the focus should instead be on the "six stabilities" and "six guarantees" in six areas — the pursuit of these goals will indirectly contribute to GDP growth but the latter should not be the focus of the government, according to the report.... Zero Hedge"The Comments Are Highly

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Lars Pålsson Syll writes What pulls me through in this world of troubles

Mike Norman writes Escobar: The Roadblocks Ahead For The Sovereign Harmonious Multi-Nodal World — Pepe Escobar

Lars Pålsson Syll writes Best match point ever

New Economics Foundation writes The autumn budget: A step in the right direction but still falling short

Overnight, Goldman confirmed as much, writing that President Xi participated at group discussions at the Two Sessions on Friday, with some of his comments reported on Saturday. Notably he said if it were not because of the pandemic, the growth target would be set at around 6%. He added that a global recession is guaranteed, and given this, if a numerical target (implicitly at a relatively high level) was set, it would require a strong stimulus and the focus of the government would be on the growth rate. He said the focus should instead be on the "six stabilities" and "six guarantees" in six areas — the pursuit of these goals will indirectly contribute to GDP growth but the latter should not be the focus of the government, according to the report....
Zero Hedge
"The Comments Are Highly Important": China's Xi Reportedly Indicated Desire To Avoid Strong Stimulus
Tyler Durden
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *