On Differences Concerning Macroeconomic Problems A Reply to Comrade Zhang Xuejun

In recent years there have been enthusiastic discussions among Chinese economists on a number of macroeconomic problems concerning the theories and policies of structural reform. Such discussions are very necessary for the development of economics as a science and for the improvement of economic policies. As a participant in these discussions, I myself have drawn much inspiration and benefit from the large number of treatises (including both those in agreement and those in disagreement with my views). For instance, on the relation between aggregate control and structural readjustment, I advocate structural readjustment under the premise of controlling aggregates,>sup>1>/sup> and disagree with the view that negates the policy of aggregate control. Nevertheless, I highly appraise the thorough analysis made by comrades who hold that view on the structural contradictions now facing us. Therefore, I am more than happy to continue to exchange views with and learn from my fellow economists in the future. Here, I wish only to respond to two criticisms that Comrade Zhang Xuejun has directed against me in his article "An Evaluation of Some Basic Views in China's Macroeconomic Studies" (>i>Economic Research>/i>, no. 8, 1987).