Analyses n°3 : What does the COVID-19 crisis tell us about China?
EURICS Notes | Analyses n°3
In 2008, China had implemented a substantial stimulus package in response to the economic crisis. It was the first truly large-scale fiscal response to the crisis worldwide. Today, in response to COVID-19, the European Union has suspended its fiscal rules to allow member states to “pump [money] into the economy as much as they need” and many countries are supporting their citizens and businesses with measures that are usually unthinkable. Surprisingly, China has not announced a stimulus package yet. Why? Political Science Professor Zhiyuan Cui of Thisghua University and EURICS fellow during the spring of 2020, analyses the situation.