Research On World Business Cycle And Direction Of Chinese Macro-economic Policy

China's economy has been developed very fast since 2003. The expansion of economy slowed down, and entered into a new cycle of adjustment because of the explosion of financing crisis in 2008.Chinese government carried out a series of macro-economic policies. The policies were effective to some extend. There are also many problems such as lacking of prediction and changing of inner construction.The main problems to be settled under this background are as follows:Firstly, analyses the basic theories of business cycle under the theory of Joseph Schumpeter, and take his theory as the foundation of macro-economic policy.Secondly, discusses the new features of world economy in this business cycle. Virtual economy has been over expanded, economic imbalance is more serious, credit crisis is over spread, and the policies of US government have great effect on world economy.Thirdly, discusses the effect of world business cycle on our economy. Chinese economy has been developed very fast, but the outer demand has shrunk under the financial crisis, the development is restraint by bottle-neck.Fourthly, analyses the effect of our current macro-economic policies. On one hand, our policies has been effective, realizes the goal of increase. On the other hand, there are also some problems on our fiscal policies and monetary policies.Lastly, sums up the framework of our macro-economic policies, analyses the orientation of our fiscal and monetary policies, points out several problems to be considered and gives out some recommendations on our future macro-economic policies.