Proactive Fiscal Policy:The New Logic of China's Practice

China’s proactive fiscal policy adheres to the development ideology centered around the people and differs from the traditional Western logic of macro-fiscal policy. It bears distinct Chinese characteristics and represents a significant macroeconomic governance policy innovation in China’s process of modernization. Despite the considerable differences between the perspectives of the Keynesian tradition and the non-Keynesian tradition, their policy objectives and methodological foundations are br...