China Stimulus Would Be ‘Mistake’: Nobel Laureate Phelps

Nobel laureate Edmund Phelps was among a group of economists who called on China to refrain from introducing a stimulus package as pressure grows on the government to take steps to support economic growth.

It would be a “mistake” for Premier Li Keqiang to use stimulus to maintain the expansion, Edmund Phelps, winner of the 2006 Nobel Prize in Economic Sciences, said at the Bo’ao Forum yesterday in southern China’s Hainan province.