Different Approaches in Addressing Internal and External Economic Imbalances
发布: 2008-5-15 13:19 | 作者: CE | 来源: China Economist
GUO Shuqing ( 郭树清)
Chairman of China Construction Bank
Editorial note:China's economy is currently facing external and internal imbalances.
However, what is the relationship between these imbalances? What is the impact on the Chinese economy? What are the underlying causes for the imbalance? The author has given an in-depth analysis and thoughtful consideration on the above-mentioned issues.
I. Background
Since 2002 , there has been increasing international attention given to the global economic imbalance. Gradually and unavoidably, China has become wrapped up in these discussions, being a constituent part of the issue. By 2004, experts at various international forums suggested that massive imports by countries like the United States, coupled with excessive exports by countries like China was the reason behind the global economic imbalance.
Ironically, at the same time, the finance ministers and central bankers from nearly all countries acknowledged that the United States and China were the two major engines propelling the world economy.
