Deflation is curbing China’s economic rise
The world’s second-biggest economy will become a more distant second this year
China has a new central-bank boss. Pan Gongsheng, who became governor of the People’s Bank of China on July 25th, is a technocrat. His career, which includes a phd in economics, research at Cambridge University and Harvard, and a stint as deputy governor, resembles those of central bankers elsewhere. But he inherits a different problem: too little inflation, not too much.
This article appeared in the Finance & economics section of the print edition under the headline “Will China always be cheap?”
Finance & economics July 29th 2023
From the July 29th 2023 edition
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