The recent slowdown in deposit growth does not signal a recovery in risk appetite among firms and households. On the contrary, it is being driven by their reluctance to borrow and their preference for safe assets.
Meanwhile, the latest push to encourage Chinese automakers to rely less on imported semiconductors is part of broader efforts to boost self-sufficiency in chips that are making increasing headway.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services