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Stock and currency markets have been a little perkier the last week or so as expectations rise of some form of Chinese stimulus to boost demand - and, hence, global growth. That optimism, though, may be somewhat misplaced.
China has limited scope for debt-fueled stimulus of the type employed in the past, so a pick-up in demand resulting from fiscal measures may be more muted than some optimists hope.
Still, hopes were raised when Premier Li Keqiang closed a briefing to the National People's Congress with a number of announcements.