The People’s Bank of China is giving a whole new meaning to “monetary science.” Asia’s biggest economy’s central bank is devising a program to provide as much as 500 billion yuan (US$69 billion) to support innovation in science and technology. It’s a “relending” scheme, meaning that the PBOC will extend credit to select institutions that lend funds to […]
Why Yellen’s reflation pleas fall flat in Beijing
What she is advocating is a strategy that Japan has been pursuing for 25-plus years with mediocre success