How Should China Handle Trade-offs between Growth and Inflation?

ZHANG Xiaojing ( 张晓晶 )
Professor and Director of Macroeconomics Department, Institute of Economics, Chinese Academy of Social Sciences

Editorial note:China registered a year-over-year CPI increase of 8.7% in February of 2008, when food prices surged 23.3% and non-food prices gained 1.6%. Such data indicates that staving off inflation has become the core issue of China’s macroeconomic control. How serious is inflationary pressure? What is the appropriate pace of economic growth? What challenges does macro-economic control face? This article attempts to answer these questions.

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