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China’s laid-back approach to slumping growth surprises globe

As China’s 2023 goes spectacularly awry, private bank strategists are grappling with a brand-new risk factor: an oddly laid-back government response to sliding growth and deepening deflation. During crises past, Beijing, like clockwork, rapidly switched its stimulus machine into high gear. It did so in 2008 amid the fallout from the collapse of the Lehman Brothers. It did so again…

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