By the looks of everything, despite the recent Chinese stimulus, not everyone is convinced that their economy will recover. It also seems that this will not really impact the rest of the world and the form of a hard landing. Why is this the case? Back in 2008, the Chinese were instrumental in getting us out of the GFC, but these days, they don’t matter as much?
The full article in Bloomberg can be found here: https://www.bloomberg.com/opinion/articles/2024-09-25/china-s-credit-bazooka-isn-t-what-it-used-to-be
The article also says that China is exporting deflation. I understand the concept of exporting inflation so that it is cheaper in your own country, but what does exporting deflation do? It even says that by exporting deflation to other countries, it has helped our inflation rate slow down. This concept is very difficult for me to understand.
Source: Succulent_Rain