Economics
Li Equates Managing Chinese Economy to Playing Chess Game
- China opens onshore currency market to foreign central banks
- `China's open door will open wider and wider,' Li Says
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Premier Li Keqiang likened managing slowing growth to a “Chinese chess game,” balancing short-term stimulus moves against longer-term reform efforts to open up the world’s second-largest economy.
“We have plenty of tools at our disposal,” Li saidThursday in a keynote address at the World Economic Forum’s “Summer Davos” meeting in Dalian, China. “You need to be careful with immediate moves you take. That is to say, we need to take targeted measures to resist downward pressure on the economy at the same time we need to build momentum for sustainable and healthy economic growth.”