Liberal Forum

noted Beijing could take “extraordinary efforts” to boost domestic consumption, which has been persistently weak, and introduce other policy measures to support its economy. “The plans to respond are well-prepared and ample,” the commentary said.

////And in the face of unknowns about how much further measures could escalate, voices from Beijing appear calm.

“The ultimate outcome hinges on who can withstand a longer ‘economic war of attrition,’” economist Cai Tongjuan of China’s Renmin University wrote in a state media op-ed earlier this week. “And China clearly holds a greater advantage in terms of strategic endurance.”