日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

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: 国产午夜精品理论片 | 亚洲欧美日韩高清 | 欧美精品一区二区在线观看 | 特级丰满少妇一级aaaa爱毛片 | 97成人在线观看 | 亚洲激情视频在线观看 | 成人高清在线 | 中文一区在线 | 综合色吧| 黄色a级大片| 亚洲国产欧美日韩在线 | 手机看片日韩欧美 | 成人免费国产 | 自拍偷拍网址 | 国产精品美女久久久久久久久 | 国内黄色片 | 黄色片在线看 | 午夜精品久久久久久久久久久久 | 超碰在线一区 | 成年人精品 | 色呦呦精品 | 蜜乳av一区二区 | 91网站在线免费看 | 神马午夜激情 | 天堂资源av | 亚洲日本免费 | 毛片999| 亚洲天堂成人在线观看 | 黄色三级av | 伊人久久久 | 黄色一级片视频 | 日韩三区四区 | 日韩激情网址 | 超碰天堂| 超碰自拍97 | 国产日韩欧美大片 | 日韩免费在线视频观看 | 婷婷色一区二区三区 | 亚洲最新| av在线免费网站 | 青青草原国产在线观看 |