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Let's form proactive synergy restructuring teams.
The whole of government needs to contribute to the shared goal of restructuring the British economy. But that means taking on the myth that the Treasury either knows best or can run it all. It just doesn't.
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
The political restructuring we pursue in China is aimed at advancing the self-improvement and development of the socialist political system. We will continue to expand people's democracy and build a socialist country under the rule of law in keeping with China's national conditions.
My father was criticized as a dictator, but that should not overshadow his accomplishments in restructuring the country. He brought Korea out of 5,000 years of poverty. What he left unaccomplished was democratization of the system.
Greece will not manage to get back on its feet without restructuring its debt. There is no way around it. The country's creditors will have to reduce a portion of its debts by extending maturity dates, lowering interest rates or giving them what's called a 'haircut' in financial jargon.
Productivity is going to be a critical issue. And it's not just about getting more time for professors in the classroom. It involves reexamining the learning experience and restructuring faculty and the use of faculty time.
In the past 20 years and more since China embarked on the road of reform and opening up, we have moved steadfastly to promote political restructuring and vigorously build democratic politics under socialism.
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