Pandemic recovery holds a lesson

China’s 14th Five-Year Plan must rebalance fiscal policies, curb excessive public investment

By MARTIN RAISER and SEBASTIAN ECKARDT Martin Raiser is World Bank country director for China, and Sebastian Eckardt is World Bank lead economist for China. The views do not necessarily reflect those of China Daily.

China’s economic recovery from the COVID-19 shock has been swift but uneven. Credit-fueled infrastructure and real estate investment and a surging trade surplus were the main drivers, while private consumption has trailed, with household incomes and...

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