China Central-Bank Adviser Urges Drastic Structural Changes for China’s Struggling Economy

China’s capacity for monetary policy easing is limited, said Liu Shijin, an adviser to the People’s Bank of China. He warned of increasing side effects if China relies solely on macro policies to stabilize growth, emphasizing the need for structural reforms. Liu’s comments come as China’s economic recovery post-COVID falters due to weak consumption, decreasing exports, and a growing property debt crisis.