Week in Review
Steep losses for the stock market and a slump in FDI to the lowest level in decades has brought added urgency to efforts by officials in Beijing to shore up confidence that the CCP regime is prepared to take the steps required to stabilize an economy that has shown signs of wobbling amid mounting difficulties for the crucial property sector. However, neither the measures unveiled in mid-May nor the more recent proposal to permit local governments to fund home purchases through an existing “special bond” program previously reserved for financing infrastructure and environmental projects has …
