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Deflation tightens grip on China’s economy
Deepening deflation has tightened its grip on the entire Chinese economy, underscoring the urgency behind the Chinese Communist Party and President Xi Jinping's recent emphasis on increasing government "fiscal stimulus." China's National Bureau of Statistics reported over the weekend that consumer prices fell by 0.5% in November, with an annual rate also at 0.5%. This decline was notably steeper than October's 0.2% contraction and worse than the anticipated 0.1% decrease. November's deflation was the most severe since the depths of the pandemic in November 2020, signaling that weakening demand from both domestic ... (full story)