(Reuters) - Asia's best hope for insulation against a worsening economic outlook in the United States and Europe rests on China, and it may not be willing or able to do the job.
With inflation running at a three-year high, Beijing has pulled every lever at its disposal to try to brake economic growth, yet price pressures persist. That argues against a repeat of 2008, when China ramped up government spending to counter the global recession, buoying Asia and the world.
With inflation running at a three-year high, Beijing has pulled every lever at its disposal to try to brake economic growth, yet price pressures persist. That argues against a repeat of 2008, when China ramped up government spending to counter the global recession, buoying Asia and the world.
