How Fiscal Reforms Could Affect the Economy

Mol Augus China's 3D Journey | Asia Pacific How Fiscal Reforms Could Affect the Economy Beijing pledges to ease local government funding pressures with fiscal reforms. However, the proposed tax hikes could make reflation more challenging. We analyze the economic impact of different reform paths. The rise of 3D challenges has eroded local governments' ability to support growth... In China, local govt shoulders >85% of fiscal spending. However, resurgent secular 3D challenges (debt, demographics, deflation) f ...