“You can lead a horse to water, but you can’t make it drink” is how economist Zhong Zhengsheng describes (link in Chinese) the predicament China’s central bank has found itself in as it tries to push the country’s banks to cut interest rates and increase lending to bolster flagging economic growth.
In Depth: Why Easing Monetary Policy Is Not Enough
2019年12月10日 20:54
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Banks’ reluctance to respond to PBOC’s actions to spur lending and cut interest rates signals headwinds to growth
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- Key interest rates have edged down in China as policymakers try to push banks to boost lending to businesses. However, credit growth is limited by lack of demand. Photo: VCG
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