Source: CCTV.com
03-06-2008 20:51
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Moderator: Yang Rui
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Guest speaker: Mr.William Hess,Greater China Team Manager from Global Insight
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Guest speaker: Professor Michael Pettis from Peking University
Telephone Interview: Dr.Ha Jiming, the chief economist of the CICC
Economy tops the agenda of the Chinese leadership and certainly the government work report of Premier Wen Jiabao at the opening ceremony of the 11th National People's Congress. To rein in the mounting inflationary pressure, a tight monetary policy has been prioritized to ease concerns of greater economic uncertainty.but in an age of globalization, any attempt to raise the interest rate might trigger the inflow of more hot money over the expectations of greater appreciation of the RMB.
At the same time,hikes in interest rate may not help to stimulate domestic consumption as the exports threaten to slow down.Given the risks ahead,the Chinese authorities will have to think twice before using the exchange regime to hold down the inflation.In the first half or our interview,we are gong to address the monetary leverage of the government in engineering a soft landing of the growth.And in the second half ,we will take a closer look at the fiscal policy of this government in improving the livelihoods of the general public and the infrastructure.
Joining us here live in the studio are Mr.William Hess,Greater China Team Manager from Global Insight and Professor Michael Pettis from Peking University.In the middle of the panel discussion,we shall talk to Dr.Ha Jiming, the chief economist of the CICC in a short telephone interview.
