- Narrative around economic growth has changed since 2015
- Reluctance to use big stimulus makes lifting confidence hard
China’s efforts to arrest a $7 trillion stock market rout are evoking memories from 2015, when Beijing took drastic steps to stem a crash. This time, investors say, the problems are much more entrenched.
Authorities have snapped into crisis mode to support China’s tumbling markets, taking aim at short-sellers and freeing up cash for banks, while state funds are boosting purchases. Signaling the growing alarm, China abruptly ousted its market chief Yi Huiman on Wednesday, rolling out another hallmark of the near decade-old blueprint to boost stocks.
“The shuffle demo