Much like in the last century, Margaret Thatcher gave the world Thatcherism and her counterpart across the Atlantic brought us Reaganomics. More recently, Japanese Prime Minister Shinzo Abe's policies to revive the economy after two decades of stagnation inspired Abenomics and now Chinese Premier Li Keqiang has stepped up with Likonomics. The term Likonomics was first used by Barclays Capital. Three Barclays Capital economists wrote that Likonomics was "exactly what China needs to put its economy on a sustainable path, which we estimate is around 6 per cent to 8 per cent annual growth for the next 10 years". Barclays Capital believes that the three pillars of Li's economic policies are straightforward: no stimulus, de-leveraging and structural reform. Li wants to lessen government directed investment, lower China's credit ratio and loosen controls over utility prices and interest rates. China Daily praised Likonomics, saying in an editorial that it was "in a nutshell, trading the economy's short-term pain for long-term gain."