Fan Gang for Project Syndicate said:
"No doubt, government macroeconomic management that is too strong may delay necessary market-oriented reforms. But the financial crisis has shown that a twenty-first-century market economy requires government participation to function. For a developing economy like China, it is better to have a government that plays an active role in avoiding the ups and downs that the Western economies experienced in their early days – and are still experiencing today."
"No doubt, government macroeconomic management that is too strong may delay necessary market-oriented reforms. But the financial crisis has shown that a twenty-first-century market economy requires government participation to function. For a developing economy like China, it is better to have a government that plays an active role in avoiding the ups and downs that the Western economies experienced in their early days – and are still experiencing today."
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