CHINA-ECONOMY: PBoC GOVERNOR PUBLISHED LENGTHY ARTICLE ON CHINA'S ECONOMY ON DECEMBER 1
|
China's Governor of the People's Bank of China Yi Gang published a lengthy 4365-word article on monetary policy in the Party’s most important theoretical journal on December 1. Yi Gang outlined the modern history of monetary policy and then cautioned against stimulating the economy. He said “Monetary policy needs to pay attention to economic growth, [but should not] over stimulate”; “Monetary policy only affects demand in the short term, but it will affect supply and economic structure in the medium and long term”; and the “Overuse [of monetary policy] may create complicated problems later on.”
|