Managing China’s Crisis Management
The Chinese government has signaled that it is beginning its exit from expansionary measures aimed at mitigating the impact of the global financial crisis and recession. A change of policy can't come soon enough: China’s long-term growth prospects may be seriously affected if the authorities fail to tackle the economy’s structural problems head on.
BEIJING – China’s “Central Economic Work Meeting,” comprising top government decision makers, recently chose to continue the expansionary fiscal and monetary policy launched in the last quarter of 2008. But it also called for greater emphasis on transforming China’s development pattern and rebalancing its economic structure.