Abstract
The next section will argue that the surge in fixed capital formation was the driving force behind economic growth and that the jump in imports was a concomitant of this phenomenon, and imports actually helped cool off the economy. Section III argues that inflation, while serious, was in a large part due to accelerating price and financial reforms and that so far inflation is still under control. In addition, I shall present evidence that there was no gross overheating in the macro economy. Section IV will present the Zhu Rongji’s 16-point programme and make an assessment of its impact. I shall also point to the directions that can be taken to avoid overheating in the overall economy. Finally, Section V will present the conclusion.
| Original language | English |
|---|---|
| Title of host publication | China review 1994 |
| Publisher | The Chinese University of Hong Kong Press |
| Pages | 10.1-10.5 |
| Number of pages | 5 |
| ISBN (Print) | 9622016162 |
| Publication status | Published - 1 Jan 1994 |
| Externally published | Yes |
