The Russian Minister urged to take the example of China

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www.vsyako.netMaxim Oreshkin Photo: Yekaterina Shtukina / RIA Novosti

Russian Minister of economic development Maxim Oreshkin called to follow the example of China in the management of aggregate demand in the national economy, the correspondent “Tapes.ru” with the session of the Gaidar forum “Modern money theory: a new look”.

“China is focused on the structure of demand in the economy. And demand is growing. Each year, about 20 percent of GDP,” — said Oreshkin. According to him, first, the Chinese government identifies sectors that need funding, then the state banks lend to businesses from these industries.

“Over the past 30 years, China has not experienced any serious crisis. He’s got a lot to learn. Managing demand is at the highest possible level”, — explained the advantage of this approach the Minister.

During the same session, Oreshkin argued with the famous American economist Kenneth Rogoff, who questioned the independence of the Central Bank of Russia. The Minister noted that the Bank of Russia even more independent that the Federal reserve or the European Central Bank.

XI forum is held on January 15-16. It is dedicated to the topic “Russia and global world: new decade Challenges”. It was visited by 14.7 thousand participants, including 600 speakers from more than 30 countries. Among them are scientists, politicians, representatives of financial circles and business. Russia will take part the first Deputy Prime Minister, Minister of Finance Anton Siluanov, Deputy Prime Minister Tatiana Golikova, the head of the chamber Alexei Kudrin and Central Bank head Elvira Nabiullina.

The forum is organized by Russian presidential Academy of national economy and public administration under the President of the Russian Federation (Ranepa, with events taking place in the Academy building), the economic policy Institute named Gaidar and the Association of innovative regions of Russia. “Ribbon.ru” is an information partner of the forum.

Video, photo All from Russia.

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