Yellen says China stimulus efforts fail to address 2 key areas of shaky Chinese economy

  • Yellen points to failures on boosting consumer spending and supporting property

U.S. Treasury Secretary Janet Yellen spoke on Tuesday at a press conference at the start of the International Monetary Fund and World Bank annual meetings in Washington.

  • "Our view has been that raising consumer spending in China as a share of GDP (gross domestic product) is really important, along with measures to address problems in the property sector,"
  • "So far I would say I haven't really heard any policies on the Chinese side that address that."
yellen pboc 07 May 2024 2

Yellen at the People's Bank of China earlier this year

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