[Biweekly Symposium] No. 583: 20 Years of Macroeconomics and It’s Analysis.
Lecturer: ZHANG Shuguang
Host: SHENG Hong
Commentators: SHI Xiaomin, GUAN Qingyou, WU Qing, ZHENG Chaoyu
As a close observer of China’s economy, and a participant in the research of China’s economic reform and restructuring, Professor ZHANG Shuguang thought it was of great significance to reflect on the macroeconomic analysis over the last twenty years in the light of nearly 40 years of reform and opening-up.
Professor ZHANG Shuguang stressed that the macroeconomic analysis developed from the shift from a planned economy to a market one. The theoretical framework has changed from a Marxist one to a variety of fine-tuned frameworks. He admitted that great achievements was done thanks to the market economy measures taken by the government, but there is more to do in the future, especially regarding the loosening of regulations, government intervention, and simplification of administrative procedures.
After reviewing the economic statistics of 2017, Professor ZHANG Shuguang thought China is heading for stable growth in a slower speed in the coming year. However, there are new issues that need to be addressed, such as a potential trade war with the US, risks of debt in the real estate industry, and the protection of private entrepreneurs, etc..
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