More discipline for growth

24 May 2010 By Wei Gu

Chinese policy makers think the recovery is fragile and are calling for global efforts to boost growth. Austerity in the euro zone is a concern. Yet China’s property prices are still rising and inflation is a risk. China needs monetary discipline to combat domestic exuberance.

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China and the United States share responsibility for promoting full economic recovery and sustainable growth, Chinese President Hu Jintao said on June 24 at an opening ceremony for the twoday Strategic and Economic Dialogue.

The global economy has been strengthening faster than expected, U.S. Treasury Secretary Timothy Geithner said. He added that United States and China need to support more open global trade.

Commerce minister Chen Deming said on May 21 it is too early to talk about an exit strategy from stimulus packages as many uncertainties remain about the strength of the global economic recovery.

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