男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

BizViews

How China grew despite the global slump

By Fan Gang (China Daily)
Updated: 2010-02-02 08:05
Large Medium Small

In short, it is because China began its adjustment one year before the global crisis that its economy emerged earlier than other countries.

The lesson is that booms have to be managed adeptly, and that financiers have to be supervised in their pursuit of ever-higher returns. That is true for developed economies no less than for a developing economy like China.

Of course, China's economy has structural and institutional problems - what developing country does not? China's macroeconomic policies are probably still too "administrative".

When many of the most important actors in an economy are insensitive to market price signals, as they are in China, economic policy will need to be administrative in order to deal effectively with those players.

But one benefit of this administrative bias over the past 30 years is that, at least most of the time, China has been cautious about overheating - and determined to step in whenever necessary to cool the economy, despite the protests of "smart" market participants.

Related readings:
How China grew despite the global slump Wen warns of challenges in economy
How China grew despite the global slump Economy gathers more steam
How China grew despite the global slump China to maintain macro-economy in 2010
How China grew despite the global slump Balancing act for post-crisis era
How China grew despite the global slump Top Chinese legislator stresses transformation of mode of economic development

To be sure, the authorities have sometimes been overly cautious. But for an economy in its early stage of development, and for the first generation of companies with young "animal spirits", excessive caution seems better than the alternative.

In fact, when a country's economic growth is continuously above 9 percent, policymakers probably cannot be too cautious.

No doubt, government macroeconomic management that is too strong may delay necessary market-oriented reforms. But the financial crisis has shown that a 21st-century market economy requires government participation to function.

For a developing economy like China, it is better to have a government that plays an active role in avoiding the ups and downs that the Western economies experienced in their early days - and are still experiencing today.

Fan Gang is Professor of Economics at Beijing University and the Chinese Academy of Social Sciences, Director of China's National Economic Research Institute, Secretary-General of the China Reform Foundation, and a member of the Monetary Policy Committee of the People's Bank of China.

   Previous Page 1 2 Next Page  

主站蜘蛛池模板: 怀柔区| 尼玛县| 盐津县| 襄城县| 柘荣县| 吉林市| 江门市| 永寿县| 岫岩| 广汉市| 旬阳县| 黔东| 江山市| 荣昌县| 米易县| 东乡县| 柳州市| 万州区| 贵州省| 遵义市| 成武县| 赤壁市| 咸宁市| 建宁县| 涟水县| 金华市| 抚远县| 五寨县| 乌海市| 屯门区| 临猗县| 涿鹿县| 当涂县| 黑龙江省| 福安市| 蓬溪县| 常山县| 扎囊县| 开平市| 苏尼特右旗| 耿马|