Institute and vice president of the China Society of Economic Reform
Structural reform on the supply side and the macro adjustment to the demand-side can be done at the same time.
While we must push forward with reforms continuously, whenever there are econom
ic fluctuations, it is still necessary to take some macro-control measures.
That’s what developed countries and market-economy countries have done to stabilize their economies over the years.
We can’t hold back some necessary adjustment me
asures on the demand side just because supply-side reform fails to see results. We need action on both sides.
When we discuss reforms, don’t forget that if the reform isn’t rolled out amid a stable develop
ment environment and the economy doesn’t move at a stable growth level, it will be hard to advance many reforms.
Huang Yiping, deputy dean of the National School of Development of Peking University