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American Rescue Plan: China worried about economic impact of Joe Biden’s US$1.9 trillion coronavirus bailout

The imminent implementation of US President Joe Biden’s US$1.9 trillion coronavirus rescue plan has raised the alert level in China, with government officials and advisers openly expressing fear that the massive injection of money into the global market could inflate asset bubbles, cause further financial market turmoil and lead to higher inflation.The American Rescue Plan, which includes US$1,400 direct payments for middle-class Americans, an extension of unemployment benefits, funding for…
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