CRISIS FOCUS:Different Situation, Different Solution

摘要

The spreading world economic crisis poses grim challenges for both China and the United States, the world’s two leading economies. Is there a universal rem- edy for both? Edmund Strother Phelps, Jr., an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences, made an in-depth analysis of the situ- ation at the Third China Beijing International Cultural and Creative Industry Expo in December. Edited excerpts from his speech follow.