On the afternoon of September 7, a delegation headed by Paul Gruenwald, Chief Asia-Pacific Economist at Standard & Poor's Rating Services, visited the Institute of International Economic Research (IIER) under AMR. IIER Director Ye Fujing met with the delegation. Also present at the meeting were Researcher Yao Shumei and Dr. Yuan Shenglong.
The two sides carried out extensive and in-depth communications on the economic situation of the United States and hot topics about China's economy, involving the monetary policies of the Federal Reserve, China's debt risks and control of irrational foreign investments, and total factor productivity changes of major economies during the post-crisis era, etc. During the talks, Ye introduced China's new achievements as a result of the adoption of the policies of reform and opening up, as well as the effects of the policies on maintaining steady growth, making structural adjustments, and guarding against risks, and gave a general introduction to the difficulties and challenges that China's economy faces. Also, he answered the questions raised by the delegation about whether China's economic growth target is excessively high, how to guard against credit risks, how to carry out internationalization of RMB and ensure balance of international payment, and how to judge "go global" and guard against capital flight, etc, and made clarifications to some erroneous judgments so as to assist the delegation in gaining a better understanding of China’s economic development. The two sides reached a preliminary consensus on further carrying out academic communications and cooperation.