Goldilocks Wen

It was the pro-growth comments that Prime Minister Wen Jiabao made during his weekend visit to Wuhan that caught the headlines. As national reassurer-in-chief at times of adversity, Wen could be expected to raise spirits in the face of a slowing economy. But to hear him say it, economic policy won’t be too hot or too cold, but just right:

We should continue to implement a proactive fiscal policy and a prudent monetary policy, while giving more priority to maintaining growth.

Or, to put it another way:

The country should properly handle the relationship between maintaining growth, adjusting economic structures and managing inflationary expectations.

Or, as state media summarized it:

Central government will continue to strengthen and improve macro control efforts, carry out timely and appropriate anticipatory adjustments and fine-tuning, boost domestic consumption and stabilize external demand to promote steady and relatively fast economic growth.

Just perfect.

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