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Western economists should bear that in mind when considering the Chinese economy.
China and the US should find more common interests and explore more cooperation opportunities for the benefit of the world.
China plays an important role in linking developed economies with developing ones and contributing to world growth
Stimulus measures can have some adverse consequences, not least inflation. The new administration is trying to find a way out of the puzzle.
The key to transformation is to stimulate creative vitality and strengthen economic growth.
Developed countries should not sacrifice the interests of developing countries for their own immediate gains, otherwise trade conflicts will break out.
Ministry of Commerce figures show that the revenue of high-end catering companies fell by 35 percent in Beijing after the implementation of the new policy.
Whether we like it or not, the world around us is in a state of constant change. But recent economic trends suggest that this change may be shifting its direction in a fundamental way.
The longer-term trends are clear. Dynamic emerging markets from Asia to Latin America are rising in prominence. The United States and Japan remain important drivers of the global economy but face major debt and deficit challenges.
International experience shows that an economy founded on consumption alone will be unable to maintain sustainable development.
Nonetheless, the new leadership may possibly outline a more ambitious and comprehensive approach to economic restructuring and rebalancing.
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