The People’s Bank of China will allow commercial banks to hold less money in reserve, but businesses and households have been cautious about borrowing.
A proposal evokes memories of 1980s China, when opening up to the world set off a debate over flared pants and men with long hair, what the party called “weird attire.”
Doing business in China, once seen as a can’t-miss opportunity, poses a troubling quandary: Reasons to stay can be as compelling as the reasons to retreat.
Years of inattention to building an adequate safety net for seniors, the jobless and others in financial stress have left Chinese consumers afraid to spend.