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A global economic recession, ignited by the U.S. subprime mortgage crisis, might be unavoidable in the near future. In the meantime, a significant slowdown in China’s economic growth in the third quarter is posing daunting challenges to the government’s macro-control policies. Ha Jiming, Chief Economist at China International Capital Corp. (CICC), recently wrote an article in the 21st Century Business Herald about what he believes to be the root cause of China’s economic slowdown and how the government can revive the economy. Excerpts follow.
A global economic recession, ignited by the US subprime mortgage crisis, might be unavoidable in the near future. In the meantime, a significant slowdown in China’s economic growth in the third quarter is posing daunting challenges to the government’s macro-control policies. , Chief Economist at China International Capital Corp. (CICC), recently wrote an article in the 21st Century Business Herald about what he believes to be the root cause of China’s economic slowdown and how the government can revive the economy. Excerpts follow.