Moomoo Chief Commercial Officer Michael McCarthy says China’s Finance Minister is expected to announce new fiscal stimulus on Saturday.
Financial markets are eagerly anticipating a press conference which will be held in Beijing tomorrow – which could result in more stimulus being provided to China’s economy.
If the stimulus is provided, it will cause global markets to surge on Monday, improving the outlook for Australia’s economy.
“Well, there is a huge range of forecasts about what might be said by the Minister of Finance tomorrow – the reality is we are expecting fiscal stimulus and the question the markets are asking is how much,” Mr McCarthy said.
“Some have estimated as low as a one trillion Yuan announcement tomorrow, some as high as six trillion.
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@harrysmith8515
Australia shall not discriminate China because China choose one party system instead of using two party system. One party system let China develop much faster. Nowadays China is much more developed than India, Brazil , Indonesia or other developing countries. Its streets are also cleaner and safer than most developed countries. Its life expectancy is already 2 years longer than US life expectancy and 11 years longer than India life expectancy .
Expressway length in China reach 188,000 kms vs US 76,000 kms and India 4,900 kms. High speed railway length in China reach 45,000 kms vs both 0 kms in US and India. On top of that, China is also number 1 in many fields such as electricity generation, motor vehicle production
(30 million per year), steel and cement production, ship building capacity( China ship building capacity is 232 times greater than US ) while it is nowhere 50 or 70 years ago.
Take life expectancy of both China and US as example. In 1950 China life expectancy is about 38 vs US 68. After 71 years, in 2021 China life expectancy is 78.2 vs US 76.1( latest figure by CDC , US life expectancy dropped by 3 in 2020-2021 period from 79.1 originally). China expectancy increase by 40 years while US increase by 8 years only. China life expectancy increase 5 time faster than US.
Also Look at health care by comparing MMA rate( maternal mortality rate): in 1950 China maternal mortality is 1500 women death per 100,000 birth vs US 100 women death per 100,000 births. In 2021, China MMA is 16.1 vs US 23.8 per 100,000 (the lower the number , the better health care service level) .
Infant mortality rate: in 1950 China infant mortality is 195 death per 1000 birth vs US 26.8 death per 1000 births. In 2021, China infant mortality rate drop to 5 per 1000 vs US 5.4 per 1000 birth.
And people in China retire at 55 years old on average to access pension. About 12 years earlier than US's 67 years requirement while some countries may not have pension at all. It means an American need work extra 40*52*12=25,000 hrs in his life than an average person in China. It also means an American only has 9 years to enjoy retirement while an average person in China has 23 years to enjoy retirement. And it is not means or asset tested when access pension in China. It means you get your pension monthly even you stay overseas, are a multi-millionaire or have another job after retirement. Singapore is another example of one party system. Its gdp is highest among Asia.