La inflación llega a China

SHANGHAI – Las condiciones macroeconómicas de cualquier país son como el agua. ¿Qué tan grande y rápido es el flujo? ¿Dónde se origina y a dónde va?

La "corriente principal" de la economía china es el enorme flujo de inversión entrante. La economía de China tiende a un crecimiento rápido, con una fuerte demanda de inversión que favorece poderosas presiones inflacionarias a corto plazo. Como resultado, desde que China inició sus reformas de mercado se han utilizado controles del crédito a los proyectos de inversión y una estrecha vigilancia sobre la oferta monetaria para promover la estabilidad macroeconómica .

Pero en 2003, tras cinco años de deflación, la economía de China entró en una nueva fase. Desapareció el exceso de capacidad,  se levantaron los límites al consumo y vino un aumento espectacular de la demanda en los hogares.

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