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CHICAGO, May 22 (Xinhua) -- The macroeconomic control policies adopted by the Chinese government since mid-2008 have been proven successful, two economists said Saturday.
Since late 2008, the Chinese government has taken a series of macroeconomic control policies to deal with the global financial crisis. The government carried on massive financial investment, some of which focused on real estate.
"In spite of some problems, the Chinese government has been making great progress in regulating and controlling the Chinese economy during the global financial crisis," Min Tang, a Chinese economist, said in an exclusive interview with Xinhua.
"Everything has two sides, good and bad. This macroeconomic control policy is an action taken to fight against a crisis," he said.
Tang believed that whether or not the policies are successful should be judged from the macro perspective instead of a micro perspective.
"China was able to resume its rapid growth first when the global economy was still going downhill," Tang said, "China also successfully kept the confidence of its people and enterprises, which is more important than anything else. Therefore, the government's macro control is very successful."