China's New Economic Efforts Fall Short, Economists Say

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Mexican chili peppers used in Sriracha. Italian risotto rice. American corn that’s used in nearly everything: these crops are vulnerable to high heat, and extreme droughts worldwide are hitting yields which could mean higher prices for staples this winter. Photo: Carlos Barria/Reuters

HONG KONG—Economists said the $146 billion in stimulus measures that Chinese policy makers unveiled this week to prop up the battered economy are unlikely to significantly alter the country’s growth trajectory.

After unexpectedly lowering two key interest rates in mid-August, Beijing stepped up efforts to shore up growth as the country continues its stringent Covid-19 strategy while it also faces a deep property slump and the most severe drought in decades.

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