, June 25). In addition to increasing public sector employment, the government is encouraging college graduates who are struggling to find work to assume manual labor jobs. To this end, Xi has urged the Central Committee of the Communist Youth League of China to rally the young generation, cultivate their “grit,” and remind them that they represent China’s future .To address the flagging economy, Xi is calling for consumption-led growth.
To this end, the central government could engage in open market operations. This approach involves manipulating the money supply and influencing interest rates by buying and selling government bonds on the open market. Additionally, there could be further cuts to bank reserve requirements and key lending rates. The PBOC could also provide medium-term funding to commercial banks in order to manage liquidity and support the country’s economy.
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