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2015-08-28 — bloomberg.com
The only thing to stop a Chinese recession, which the former external member of the Bank of England defines as 4 percent growth on "the mendacious official data" for a year, is a consumption-oriented fiscal stimulus program funded by the central government and monetized by the People's Bank of China, Buiter said.
"Despite the economy crying out for it, the Chinese leadership is not ready for this," Buiter, chief economist at Citigroup, said in a media call hosted Thursday by the Council on Foreign Relations in New York. "It's an economy that's sliding into recession."
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