Backwards and forwards in China

Article Abstract:

China's prime minister sees a need for policies to promote long term growth, yet these may be incompatible with short-term growth, seen as necessary for the leadership's credibility and for ordinary Chinese. China faces a drop in foreign investments, and exports are likely to be affected by wider problems in Asia in 1999, but the Chinese economy is relatively protected due to the currency being mainly non-convertible. State enterprises are shedding workers, and the number of ministries has been reduced. A fiscal stimulus is being used to boost growth over the short term, and this involves costs suh as unrecoverable loans.

Economic Programs, Administration of Economic Programs, Fiscal policy, Government ownership, Nationalization

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Sell: China's yuan

Article Abstract:

Currency speculation ensued when rumors surfaced that China would join the General Agreement on Tariff and Trade. Currency value stabilized when the government declared that currency devaluation would not be deliberate. That may change due to liberal trade policy.

Monetary policy, Currency devaluation, Devaluation (Currency)

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