The G20 appears to be placing a large bet on China's policymakers. At their summit last month, one developed country after another, bar the US, said they would cut fiscal deficits.
“If these economies all decide to reduce their budget deficits, what will drive global growth?” asked Simon Johnson, the former IMF chief economist. “The answer in Toronto was obvious: China.”
As a result, there will be unusually keen interest in China's second-quarter growth figures, which are expected on Thursday.
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