China Plans to Boost Spending to Help Its Economy Grow 🚀
Hey there! Did you know that China is making big plans to help its economy grow? Let’s find out what this means! 😊
What is China doing?
The Chinese government has decided to spend more money on important things like building new schools 🏫, hospitals 🏥, roads 🛣️, and other projects that can help people get jobs and make life better.
What is a Fiscal Policy?
Fiscal policy is like a plan that a country’s government makes about how to collect and spend money. When a government decides to spend more money to help the economy, it’s called a “proactive fiscal policy.”
Why is this important?
By spending more money, China hopes to build more things and create more jobs. This can help people earn money to buy food, clothes, and other things they need. It can also help businesses to grow!
What about Government Debt?
Sometimes, governments need to borrow money to pay for these projects. This is called “government debt.” China plans to borrow some money to help pay for all these new projects. It’s like when you might borrow money from a friend to buy something important, and then pay them back later.
How does this affect other countries?
China is a big country, and when its economy grows, it can help other countries too! They might buy more things from other countries or share new ideas.
Wrapping Up!
It’s exciting to see how China’s new plans might help people in China and around the world. What do you think about these big changes? 🤔
Reference(s):
cgtn.com
