Govt given credit for accepting slower growth

Rushing to implement stimulus package would have been wrong move, economist says

Although many people are concerned about the slowdown of the Chinese economy in 2014, Nicholas Lardy, an acclaimed economist specializing in China, said that the government should be praised for not rushing out a stimulus package, as many expected or encouraged them to do.

"The good thing is the government last year did not follow the advice given by some to have a big credit stimulus to try to accelerate and improve economic growth," Lardy told China Daily before the opening of the annual session of China's National People's Congress in Beijing this year.