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FLGV - Chinese 'Hidden' Stimulus Could Continue To Support Risky Assets
Franklin Liberty U.S. Treasury Bond
As a response to the COVID-19 shock, we saw that Chinese authorities have not been as aggressive as other major economies such as Italy, Japan or the US. Bank of America recently computed the amount of fiscal and monetary ‘stimulus’ for each economy since the start of the year and ranked them based on the total amount of the country’s GDP. Figure 1 shows that Italy comes first with a total stimulus of 53.3% of the nation’s GDP, closely followed by Germany (49.5%) and Singapore (42%). It is surprising to see that despite the large