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China Seeks To Whip Inflation Now

By Dan Harris and Steve Dickinson

China Challenges has a nice quote up from an FT article regarding the likely futility of China's governmental efforts to clamp down on inflation:

The raft of price control edicts issued over the past week by Beijing in an effort to rein in inflation has carried a whiff of old-style central planning and prompted scepticism over their likely effectiveness. ?If [the controls] work they can only work in the short term, not in the long term,? says Ha Jiming, chief economist at China International Capital. But such criticism may miss the point, according to Chinese officials who say the measures are primarily a signal of the government?s determination to stop inflation ? which surged to an 11-year high of 6.9 per cent in November ? getting out of hand.

Probably not a good thing that China's efforts instantly reminded me of Gerald Ford's oft-ridiculed "Whip Inflation Now" campaign.

Full post as published by China Law Blog on January 18, 2008 (boomark / email).