Renowned economist Cheng Siwei signs his new book, The US Financial Crisis: Analysis and Interpretation (Lessons for China), for readers in the San Francisco Bay Area on June 12. Cheng was the vice-chairman of the 9th Standing Committee of the National People's Congress. [Chang Jun / China Daily]

World-renowned economist Cheng Siwei made a brief stop in San Francisco on Tuesday with his new book, and shared with the local audience his thoughts on a spectrum of topic including China-US relations and an economic forecast for his country.

The English-language version of Cheng's book, The U.S. Financial Crisis: Analysis and Interpretation (Lessons for China), was published in the United States in May.

Cheng, now 77, said he is happy with the efficient handling of the translation, editing and publishing of his research works through his publisher, Sinomedia International Group. "The Chinese version was published two months earlier back in China. They are very fast," he said of Sinomedia.

After retiring from service as vice-chairman of the 9th Standing Committee of the National People's Congress in 2003, Cheng has been able to spend more time in academia. In 2009, he and his research fellows from the China Academy of Sciences carried out major research on the US financial crisis. Mainly, they wanted to explore the causes, analyze its impact on Chinese and world economies, and provide insights for decision-makers, Cheng said.

He also hopes the English-language version will expand the base of knowledge about Chinese people's views of the crisis.

In the book, Cheng calls on the Chinese government to take cautious steps to avoid economic chaos in the future — in saving versus consumption, domestic and foreign demands, financial innovation and regulation, the "fictitious" economy and the "real" economy, economic growth and sustainable development, globalization and regional integration — toward the goal of rebalancing, he stressed.

Asked his opinion of the China-US relationship, Cheng said establishing mutual trust is crucial. Without it, "there is no way you can cooperate and carry out teamwork; everything is about conspiracy," Cheng said, adding that frequent people-to-people exchanges between the two countries will help.

On the future of China's economy, Cheng predicted gross domestic product will grow at 8 percent while inflation is about 5 percent. "But don't quote me on this. If in the real world what I said becomes reality, it's only a coincidence," he joked.

Contact the writer at junechang@chinadailyusa.com