"China's Central Bank Adviser Proposes Structural Reforms for Economic Revival"
A central bank adviser in China has proposed pursuing structural reforms, such as encouraging entrepreneurs, instead of relying solely on macroeconomic policies to revive the country's struggling economy. The adviser highlighted that China's room for further monetary policy easing is limited due to widening interest rate differentials with the US. The proposed reforms include demand-side measures to provide migrant workers with access to public services and supply-side measures to promote entrepreneurship in emerging industries. China's economy has been facing challenges such as weak consumption, falling exports, and a deepening property debt crisis, despite previous monetary and fiscal measures to boost confidence.
