China has proved ability for crisis management
By Ding Yifan | China Daily | Updated: 2009-02-05 07:50
All countries are struggling with the global financial crisis as it worsens. Hoping to reduce to the minimum the impacts of the crisis on its own economy, China has worked out a string of forceful measures over the past months.
The country has loosened its previous prudent monetary policy and increased fiscal spending on infrastructure construction. At the same time, some stimulus packages aimed at reactivating slackened domestic demand have been launched to ensure the country achieves an 8 percent economic growth this year.
Although lower than in previous years, such an encouraging growth target is particularly outstanding in the context of widespread low expectations by other major countries.
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