{"id":2580,"date":"2024-10-04T01:35:21","date_gmt":"2024-10-03T17:35:21","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=2580"},"modified":"2024-10-04T01:35:21","modified_gmt":"2024-10-03T17:35:21","slug":"%e4%b8%ad%e5%9b%bd%e9%a2%86%e5%af%bc%e4%ba%ba%e6%ad%a3%e7%ab%99%e4%b8%8a%e4%b8%8d%e6%83%9c%e4%b8%80%e5%88%87%e4%bb%a3%e4%bb%b7%e7%9a%84%e5%85%b3%e9%94%ae%e6%97%b6%e5%88%bb%ef%bc%8c","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=2580","title":{"rendered":"\u4e2d\u56fd\u9886\u5bfc\u4eba\u6b63\u7ad9\u4e0a\u201c\u4e0d\u60dc\u4e00\u5207\u4ee3\u4ef7\u201d\u7684\u5173\u952e\u65f6\u523b\uff0c\u96f7\u5fb7\u5229\u5965\u8a00\u4e4b\u707c\u707c"},"content":{"rendered":"

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\u65b0\u95fb\u6765\u6e90\uff1a<\/b>www.bloomberg.com
\u539f\u6587\u5730\u5740\uff1a<\/b>China\u2019s Leaders Face \u2018Whatever-It-Takes\u2019 Moment, Ray Dalio Says<\/a>
\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2024-10-01
\u539f\u6587\u6458\u8981\uff1a<\/b><\/font><\/p>\n

Billionaire investor  says China\u2019s surge of market stimulus will be a historic turning point for the world\u2019s second-largest economy, if policymakers in Beijing deliver \u201ca lot more\u201d than pledged.  The comments came after Chinese stocks posted the  since 2008 following a policy blitz last week that included lowering interest rates and allowing brokers to tap central bank funding to buy stocks. China\u2019s top leaders have also  to support fiscal spending and stabilize the beleaguered property sector.  In a  on Monday, Dalio drew a parallel between President \u2019s moves and the moment in 2012 when former European Central Bank President  pledged to  to preserve the euro. Draghi\u2019s speech eventually helped bring an end to that period\u2019s European debt crisis.\u201cIt was a big week,\u201d wrote Dalio, founder of . \u201cIn fact, I think that it was such a big week that it could go down in the market-economic history books,\u201d as long as China\u2019s policymakers \u201cdo what it takes, which will require a lot more than what was announced.\u201dBeijing is at a crossroad in confronting the bursting of a housing bubble and mounting local government debt, said Dalio, who has frequently visited China to meet senior leaders. The nation could either slip into an economic malaise similar to what Japan experienced in the past, or successfully cut debt and avoid a crisis, the closely followed investor said.To achieve what he calls a \u201cbeautiful deleveraging,\u201d Beijing needs to restructure bad debt, while creating more money to reduce the debt service burden without fueling too much inflation. Such \u201creflation\u201d moves would encourage risk-taking by making cash less attractive than other assets, he said. \u201cDoing these things starts to rekindle \u2018bottom fishing\u2019 and \u2018animal spirits,\u2019\u201d he wrote. \u201cWe are clearly seeing that happen now.\u201dDalio warned that the deleveraging would be painful because it will destroy wealth and bring about the politically-charged decisions as to who will shoulder the costs of debt losses. A decline in the working-age population and aging demographics compound China\u2019s challenges, he added.\u201cSo, while last week we saw great actions and words that I am sure will be followed by highly stimulative policies that will help a lot and will support asset prices, I think that there are several important other things to keep an eye on to see how well China\u2019s domestic debt-money-economy challenges will be handled,\u201d he wrote. <\/pre>\n
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