China has taken right policy to counter the global financial crisis, said a U.S. scholar in a recent interview with Xinhua.

"I have been impressed by a lot of what the Chinese responses in terms of policy reform," Daniel H. Rosen, an economic advisor specializing in China's commercial development, said.

"There's been a lot of focus on increase the access to lending for private companies, medium size and smaller companies in China. That's critically important," he said.

China's massive fiscal stimulus package announced last year and the aggressive monetary easing in 2009 bolstered economic growth, according to the latest report of Asian Development Bank. The report predicted the Chinese economy to expand by 8.2 percent in 2009.

"A stimulus package is like a hard surgery. It's what you do in a crisis when you have a terrible economic situation. It's not what you do to take care of your health for the long term," said Rosen.

"For the long term, of course we need to see policy reform to rebalance China's economy just as we see policy reform to rebalance the U.S. economy. So stimulus is important, but we must not think that it's the solution of our long term challenges and problems," he said.

"So those are all the right first steps. What I don't see yet is a change in what the money is really flowing. So this is a journey of the first 1,000 mile, that's gonna take a lot more steps before we actually see the practical change in the flow of money that will lay a strong groundwork for a sustainable strong Chinese growth for decades to come," he added.

Rosen is optimistic on U.S.-China economic relations despite recent trade dispute between the two countries. "The more you trade with one another, the more closer you are, the more fights you have," he said. "We're gonna trade more, we're gonna invest one another more, and naturally we're gonna have more disputes."

"And we'll do with those through the system we set up together, based on mutual trust, mutual respect for the system that we're going to create together to do with those things," said Rosen.

"I think it's up to our leaders to make sure that people on both sides understand that disputes are not a sign of failure, they are a sign of closer relationship," he concluded.

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