China’s property curbs – the “three red lines” – have largely been lifted. All levers of policy are stimulative.
For the rest of the world, the implications are bittersweet. The risk is that surging Chinese demand for oil, gas, and commodities risks setting off another round of imported inflation before Europe and America have fully recovered.
Strap your belts for another turbulent year.
Ambrose Evans-Pritchard Telegraph 17 January 2023