There is today a familiar theme as I listen to the media, various economists and “market experts.” They say we are entering the era of a “new normal” in which we have to accept high unemployment and low income growth and that interest rates will remain at zero indefinitely.
In 2008, the State Council promulgated the “Outline of the Plan for the Reform and Development of the Pearl River Delta”, in which financial cooperation was designated to be one of the main areas for cooperation.