Word: yao
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Dates: during 1980-1989
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...Yao Wei, a press officer on leave from the Ministry of Foreign Affairs of the People's Republic of China, stressed that international relations deserve as much attention as domestic affairs. He said the United States and his country "both have a lot to learn" and can eliminate decades of hostility by open discussion...
...malady of seeking quick results. Instead it will base itself on actual economic conditions, putting the stress on practical results and step-by-step development." With these words, spoken before the standing committee of China's National People's Congress Feb. 28, Vice Premier Yao Yilin described a watershed decision by the country's economic planners. Specifically, Yao announced a drastic 13% cutback of the 1981 budget; capital construction, the hardest-hit sector, would be chopped almost in half. Peking, it appeared, was scrapping much of the philosophy behind the ambitious Four Modernizations* development campaign launched with...
...Yao Yillin, China's deputy prime minister and head of its State Planning Commission, announced Saturday that China will sharply cut government spending and respond to supply and demand in planning its economy, aiming at gradual gains rather than the "quick results," sought under previous programs...
...said the Chinese government would "regulate the economy according to the pressures" of the market, but "within the state plan," with cuts coming primarily from heavy industry and defense. Although the government would intervene "where necessary...to avoid economic anarchy," Yao also said the developments of private business would be encouraged...
...student also said that Yao entered his present office with an "emphasis on supply and demand rather than central planning." He added he expected this more moderate policy to continue, and predicted that the long-term effects of the plan would be beneficial to China's economy...