China‘s banks cut interest rates because their economic growth was downgrade to 7.6% for this year. In Europe most countries are hoping for 0% growth and the U.S. would be happy with 2%. What’s the difference between China and the west?
I’m not economist, but from what I can see, it’s the size and scope of government spending, taxation, and regulations.
In the long run 7.6% economic growth will help the people much more than anything the government can do.