What Is Macroeconomic Stability?

The meaning of economic stability usually means to achieve full employment, price stability and balance of payments. Economic stability also includes the content of economic growth, which means maintaining the sustainable, stable, and coordinated development of the economy.

Economic stability

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The meaning of economic stability usually means to achieve full

The meaning of economic stability usually means to achieve full

Mundell: Maintaining macroeconomic stability is very important for China

Nobel laureate in economics and famous economist Robert A. Mundell recently pointed out in Beijing that maintaining the stability of macroeconomic operations is very important to China. Appreciation of the RMB or adjustment of the exchange rate system will drag down economic growth and Hidden dangers for long-term economic development.

Mundell made the above remarks at a press conference of the Second International Financial Forum Annual Conference held here. He said that China's adjustment of the exchange rate system or appreciation of the yuan would be a "very serious mistake" and China should continue to implement a fixed exchange rate system pegged to the US dollar.

Responding to questions from Xinhua News Agency reporters, Mundell stated that he was very concerned about the continuity of China's macroeconomic policies and the reform process of China's banking industry. He suggested that China's financial regulatory authorities should establish a credit rating system as soon as possible to help China's banking industry improve. The level of risk management speeds up the disposal process of banks' non-performing assets.

Mundell said that China has made great achievements in economic development in the past 25 years, and China's economic growth rate has exceeded the fastest record in these 25 years. He said that two years ago, no one paid attention to China's role in the world economy, let alone talk about China's currency and exchange rate policies, but two years later, more and more people talked about the development of the world economy and China. The economic boom of China is linked, and many of them believe that the development of China's economy has increased competition in the world economy.

Mundell said that some people accused China of exporting deflation to the world, that China should adjust its exchange rate policy and appreciate the yuan, and some people accused China of exporting inflation one year later, and I think, in essence, the reason why A large part of this misunderstanding is due to the soaring prices of international crude oil and other raw materials.

The economist, known as the "father of the euro," said of the Asian dollar that although there are already some conditions for the implementation of a single currency in the Asian market, the prospects for its implementation are difficult to predict. Because this requires the region s market to enjoy a high degree of