Dr. Hu Angan and Dr. Xie Ping headed this research project . In the article , the author pointed out that the current deflation has caused negative effect on the national economic development. By analyzing equation of the relationship of economic growth rate, unemployment rate and the inflation rate, the author concluded that at least the deflation in shortterm will directly cause the economic growth rate down and unemployment rate up, thus going a vicious circle. The article suggested that in the next 2 or 3 years China should adoptthe "appropriately expend monetary policy and presented other eight suggestions as well.
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