ABSTRACT
The 1998 “Autumn Forum to Analyze and Forecast the Economic Situation” was hosted on October 8, 1998 by the “Economic Situation Analysis and Forecast” research team of the Chinese Academy of Social Sciences. Experts at the forum pointed out that both the domestic and international economic situations have become extremely complex since 1998. Experts agreed that the intensification of the Asian financial crisis, the sharp devaluation of the Japanese Yen, and the severe floods China was subject to were matters beyond the control. The participants of the forum believed that the trend of economic growth in 1999 would depend on the implementation and strength of the macroeconomic adjustment program. Under the current effort to stimulate economic growth, we should adopt both fiscal policy and monetary policy, and we should implement both with the right timing and in an appropriate way.
