Chinese Premier Wen Jiabao has noted that he is "concerned" about the U.S.' financial crisis but believes it will not reach the level of the Great Depression. In the overseas edition of the People's Daily, Wen was quoted as saying:
"What is the actual degree of the problem? How will it develop? What will be the affect on the United States and the world? I'm very concerned...In the changing situation, China must strengthen macroeconomic controls, take flexible, cautious and extremely resilient policies, maintain macroeconomic stability, financial market stability and capital market stability."