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These two things together must make macroeconomic control exceptionally difficult.Very difficult, but not impossible.
The statistics bureau said in a statement that the economy had "generally carried good development weight and kept moving towards the expected direction of macroeconomic control".
We find significant influences of our macroeconomic control variables on the proceeds ratio.
We must, therefore, make it our top priority in macroeconomic control to keep overall price levels stable".
The second section of Table 5 illustrates the results of our regression that are specifically focused on macroeconomic control variables.
The annual growth rate of the real gross domestic product (GDP) and the unemployment rate (UER) at the time of default (i.e., transfer to BAG) take the role of macroeconomic control variables.17.17
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It will not ease its macroeconomic controls until inflation falls more decisively.
In the next two years, tight macroeconomic controls knocked 4.6 percentage points off its growth rate.But inflation in China is now only 5.3%.
"I think the slowdown is a result of the government's macroeconomic controls, indicating recent monetary tightening and administrative measures are taking effect," said Xiao Minjie, who is an economist at Daiwa Institute of Research in Shanghai.
Behind the scenes, Mr. Wen made many political enemies among provincial and state industry bosses who opposed his government's stopgap macroeconomic controls, as well as among party hard-liners who scorned his advocacy of political reform.
"The macroeconomic controls this time around have not only effectively prevented the economy from transitioning from speedy growth to overheating — by curbing too-rapid growth — but at the same time have not resulted in a sharp downturn, thereby preventing severe fluctuations in economic growth," said Li Xiaochao, a spokesman for the National Bureau of Statistics.
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