1. Friday May 25, 2018
      Home > News > Society
      Text:| Print|

      Lower growth rate will not be a problem

      2012-11-23 16:37 People's Daily     Web Editor: yaolan comment
      Wu Jinglian, a research fellow at the Development Research Center of the State Council. (File Photo)

      Wu Jinglian, a research fellow at the Development Research Center of the State Council. (File Photo)

      (Xinhua File Photo)

      (Xinhua File Photo)

      It does not matter much whether China's gross domestic product (GDP) is growing 10 percent, 8 percent, or 7 percent. The key question is what factor contributes the most to the country's GDP growth. If efficiency can contribute more to economic growth, even a lower growth rate will not be a problem.

      Fundamentally speaking, there is something wrong with China's growth model.

      According to its first five-year plan, the country adopted the Soviet Union's growth model in 1953, and started pouring investment into the capital-intensive heavy chemical industry in order to better promote economic growth. As a result, its investment-to-GDP ratio is now probably close to 50 percent, which can easily lead to insufficient demand and consumption.

      The Chinese economy has maintained rapid growth since the launch of the reform and opening-up policy because strong external demand offset weak domestic demand.

      China realized in the early 21st century that it must shift from the investment- and export-driven growth model to a new technology- and efficiency-driven model.

      If the country fails to increase the contribution of productivity to economic growth, it will have to increase investment to boost growth, which will drive up the investment-to-GDP ratio and lead to a vicious circle. The higher the investment-to-GDP ratio is, the lower household consumption rate is, and the more insufficient demand is. In order to boost demand, it may further increase investment, which will only make demand more insufficient.

      In the long run, China urgently needs to transform its economic growth model and increase the contribution of technological progress and efficiency enhancement to economic growth. Only in this way can it maintain reasonable and moderate economic growth.

      It does not matter much whether China's GDP is growing 10 percent, 8 percent, or 7 percent. The key question is what factor contributes the most to its GDP growth. If efficiency can contribute more to economic growth, even a lower growth rate will not be a problem. However, the transformation of the economic growth model remains slow.

      China's economy will soon be improved as long as it can overcome various difficulties and obstacles seriously and resolutely.

      What does China's changing mean to the world economy under the new mode of economic development?

      Maybe China will become one of the world's largest consumer markets from a so-called world factory and major exporter that only provides finished products, and contribute to the stability and sustainable development of the world economy.

      Running its own thing may also be China's contribution to the world.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 久久免费看黄a级毛片| 国产AV无码专区亚洲Av| 国产亚洲人成A在线V网站| 国产亚洲精品美女久久久久久下载| 91情侣在线精品国产免费| 亚洲xxxx18| 国产婷婷成人久久Av免费高清| av无码免费一区二区三区| 亚洲精品在线播放视频| 在线观看成人免费视频不卡| 亚洲中文字幕无码一去台湾| 成人毛片视频免费网站观看| 久久精品国产亚洲av品善| 亚洲国产成人久久精品99 | 国产亚洲AV无码AV男人的天堂| 精品免费久久久久国产一区| 亚洲精品亚洲人成人网| 中文字幕无码视频手机免费看| 免费人成网站在线观看不卡| 永久在线观看www免费视频| 亚洲精品夜夜夜妓女网| 亚洲爆乳少妇无码激情| 国产成人亚洲综合网站不卡| 三年在线观看免费观看完整版中文 | 亚洲成熟xxxxx电影| 8x8×在线永久免费视频| 亚洲大尺度无码无码专区| 免费人成在线观看网站品爱网| 国产亚洲精品免费视频播放| 一区二区三区四区免费视频 | 国产久爱免费精品视频| 久久精品九九亚洲精品| 日韩精品免费一区二区三区| 亚洲第一香蕉视频| 小小影视日本动漫观看免费| 国产一级一毛免费黄片| 亚洲妇女水蜜桃av网网站| 亚洲一区免费在线观看| 亚洲国产精品成人精品软件| 国产免费久久精品| 美女被免费网站视频在线|