On Oct. 3, Fareed Zakaria spoke to Premier Wen Jiabao on his CNN program Fareed Zakaria GPS. Excerpts:
Do you feel that the global economy is stable and strong? Or do you worry that the U.S. could go back into a recession?
I think the world economy is recovering, although the process of recovery is a slow and torturous one. I hope that there will be a quick recovery of the U.S. economy, because, after all, the U.S. economy is the largest in the world. I have taken note of the recent policies and measures taken by President Obama. I think these are on the right track.
What lesson have you drawn from the financial crisis? Have you lost faith in American macroeconomic management?
The biggest lesson that I have drawn from the financial crisis is that, in managing the affairs of a country, it’s important to pay close attention to addressing the structural problems in the economy. China has achieved enormous progress in its development. Yet I was one of the first to argue that our economic development still lacks balance, coordination and sustainability. This financial crisis has reinforced my view. As far as the U.S. economy is concerned, I have always believed that it is solidly based. The U.S. has the strength of scientific and technological talent and managerial expertise. In spite of the twists and turns, the U.S., I believe, will tide over the crisis.
