China, you have a comms problem

The Peterson Institute for International Economics (PIIE), on communications missteps from China's economic authorities that "left investors and overseas policymakers confused":

Following the latest high-level talks between China and the United States, US Treasury Secretary Jack Lew said China needed to improve the way it conveys its shifting policy message publicly.

Lew said the country must become “more adept at communicating its policy path and its analysis of its own economy, because the world and markets are hanging on what China thinks is going to be the next step in its economy.”

“China's political structure is not set up for clear communications with the outside world,” said Sean Miner, China Program Manager at the Peterson Institute for International Economics. “The best example is the August change in how China sets the daily yuan fixing rate—very little communication, and then they took a couple days for the press conference, and only after a sharp global equities selloff. It seems the central bank has still not found a promising solution to this.”

Policy communications present substantial challenges to economic officials in most countries but China's standing as the world’s second largest economy makes the challenges it faces on its own much more pronounced.