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  • Beijing Review

    A Caring Act?

    Apr 09, 2020 4 minutes
    By Zhou Mi
    Copyedited by Sudeshna Sarkar

    The author is a research fellow with the Chinese Academy of International Trade and Economic Cooperation

    On March 27, U.S. President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act coming with a $2.2-trillion aid package to revive the economy hard hit by the novel coronavirus pandemic. On March 23, the U.S. Federal Reserve pledged unlimited quantitative easing to keep the markets functioning.

    This emergency stimulus aid is the largest of its kind in U.S. history. However, whether it will stimulate and stabilize the economy remains to be seen, especially as it offers only limited support for

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