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Likonomics 克強(qiáng)經(jīng)濟(jì)學(xué) (ke qiang jing ji xue)

Likonomics, a term coined by Barclays Capital economists on June 27 to describe Premier Li Keqiang's economic policy, comprises three pillars: no stimulus, deleveraging and structural reform.

The response of China's central bank to last month's alarming cash crunch and soaring inter-bank borrowing rates shows the determination of the government to deal with any eventuality.