Washington Post,April 3, 2008 page D5: Treasury Secretary Paulson said "Our two countries share the challenge of achieving balanced economic growth along with energy security and environmental subtainability." "It will take resourcefulness, creativity, determination and a long-term commitment to achieve the results we seek." He cited the natural equilibriium of markets to match supply and demand." My comment: There are expansionary and contractionary gaps to the aggregate demand and aggregate supply as per the economic model. However,we must try to bridge the gaps by adjusting the fiscal and monetary policies in China and in the United States as well. Such adjustments would be difficult as we are witnessing the current happenings in USA and in China in the real world. Economics is full of complexity and complicity too! Human factor is very much involved for vested interests,indeed.
Francis Shieh, a lifelong student focusing the American economy and China's economy. April 3, 2008 at 9.33 p.m.
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