Policies need to adapt to new situation
By Wang Yanlin |
December 2, 2011, Friday
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Print Edition
Print Edition
CHINA should make its policies more targeted, flexible and forward-looking to cope with a global economic crisis which may be worse than that in 2008, Vice Finance Minister Zhu Guangyao said yesterday.
"Factors that destabilize the global economy are on the rise with major powerhouses threatened with a sharp economic slowdown," Zhu said in Beijing at a forum organized by the China Chamber of International Commerce.
"It poses a big challenge for China to sustain its (economic) growth," Zhu warned.
Compared with the 2008 global financial crisis which started with the collapse of Lehman Brothers, Zhu said the present crisis may be more serious.
"But now, to be honest, some countries have very difficult fiscal situations, and there is limited room to adjust monetary policies," Zhu said.
Zhu said China should do everything to make its policies more targeted, flexible and forward-looking to better adapt to the new economic situation.
"Factors that destabilize the global economy are on the rise with major powerhouses threatened with a sharp economic slowdown," Zhu said in Beijing at a forum organized by the China Chamber of International Commerce.
"It poses a big challenge for China to sustain its (economic) growth," Zhu warned.
Compared with the 2008 global financial crisis which started with the collapse of Lehman Brothers, Zhu said the present crisis may be more serious.
"But now, to be honest, some countries have very difficult fiscal situations, and there is limited room to adjust monetary policies," Zhu said.
Zhu said China should do everything to make its policies more targeted, flexible and forward-looking to better adapt to the new economic situation.
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