El-Erian Says China's Measures Aren't Gaining Traction

The transcript discusses China's economic challenges, focusing on the inadequacy of current piecemeal policy measures. It highlights the need for a revamped growth model and fundamental debt restructuring. The discussion also touches on the necessity of structural changes and the shift of growth drivers to the micro level. The historical context of China's economic adjustments is compared to the current situation, noting the market's skepticism about China's ability to deliver consistent results.

What has been the market's reaction to China's economic measures recently?

What does the speaker imply about the consistency of China's economic policy delivery?