In China, a slowdown in growth and a decline in inflationary pressure have been progressing moderately, showing signs that the economy is heading toward a successful soft-landing, albeit lingering uncertainty. According to the latest World Economic Outlook, which the International Monetary Fund (IMF) published last week, the global economic growth rate is projected to be 3.3 percent in 2012.
It should be noted that some of these measures will require political resolve and social support as they are likely to affect social entitlements. Some analysts have remarked that these measures will not have much impact in the short term. Should there be a re-thinking of the monetary policy framework?