China keeps using the wrong tools to fix its economic problems ...Middle East

Quartz - Economy
China keeps using the wrong tools to fix its economic problems
source : Quartz ( Middle East ) () 25
Chinese economists and officials are sounding alarm bells over the state of the country’s stalling economy.Widespread pandemic lockdowns in key cities and manufacturing regions this year have roiled supply chains and weighed on growth. Businesses are struggling. Data released today paint a dire picture: China’s industrial output and retail sales for April are both down sharply, and unemployment is climbing. Retail contracted by 11.1% from a year earlier, a far deeper plunge than the 6.1% drop forecast by Reuters.For a government whose legitimacy is heavily dependent on sustained economic growth, this presents a major headache. The question is, will Beijing manage to deploy the right tools to

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