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China Reveals $1.4 Trillion Plan to Bail Out Local Governments

The support package came after smaller measures were announced to jump-start growth. Economists said it was not big enough to address China’s sluggish economy.

© Qilai Shen for The New York Times

Despite economic challenges, China’s leaders avoided major interventions until late September, when they eased borrowing for households and companies, favoring state-led growth over direct consumer stimulus.
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