Sentences with phrase «indirect wealth transfer»

The amount of the direct or indirect wealth transfer from the state sector to ordinary households is, I think, the most important variable in understanding China's adjustment.

The pace of growth will be driven largely by the pace of household income growth, which will itself be driven largely by the pace of direct or indirect wealth transfers to ordinary Chinese households.

First, substantial direct or indirect wealth transfers from the state sector to Chinese households will unleash a surge in household consumption as household income rises (and because the interest on bank deposits is an important source of income for most middle and lower middle class households, if the authorities reduce interest rates, as struggling borrowers are demanding, China actually moves in the wrong direction).