Refreshing ideas offer ray of hope for future

With layoffs, scandals and bankruptcies, the global economic landscape is anything but bright. Amid so much of gloom and doom, news emanating from the ongoing National People's Congress (NPC) deliberations has come as a whiff of fresh air, offering a ray of hope for the future.

And why not? China has so far done a commendable job to sustain fiscal stability by embarking on a prudent investment strategy that is designed to generate more employment and overall development of infrastructure. The government also made its intentions clear that it does not want to get bogged down by the global economic recession and intends to maintain a steady growth trajectory.

Premier Wen Jiabao's address in Beijing to the NPC indicated that the government is now treading cautiously with an open and flexible mind to the changing economic situation. At the same time, there are indications that the government is not averse to using more fiscal measures if the situation demands.