Foreigners moniter economic policies

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Canadian newspapers Sing Tao Daily and Today Daily will carry special coverage of both meetings. The Wall Street Daily says the US and other countries are hoping policies formed will encourage consumption in China and contribute to the stabilization of the global economy.

Gennadii Seleznyov, former chairman of Russian Duma, said, "China has taken a lot of measures to prevent the drop of resident's consumption and the level of people's living standards. This helps avoid a depression in the face of the global financial crisis."

The Chinese press has interviewed a Nobel prize winner in economic sciences on the meetings. Edmund S. Phelps says except for investing in infrastructure to increase employment, the government can also use subsidies.

Nobel winner in economic sciences, Edmund S. Phelps, said, "Giving a subsidy for every low wage employee at the company. Or giving the employee himself the subsidy. Either way that's a powerful way increasing employment of low wage workers."

The rest of the world is hoping favorable economic policies will come out of the NPC and CPPCC sessions.

Editor:Liu Anqi