OPINION> Commentary
|
OPINION> Commentary
|
|
Right measures for economy?
(China Daily)
Updated: 2009-02-26 07:45
Before taking measure to shore up the local economy, the government must study whether demand exists for business they intend to spur, says an article on the website www.cctv.com. The following is an excerpt: Guangdong province has recently taken measures to stimulate mass participation in tours and recreational activities. These measures are said to be aimed at "spurring consumption and expanding demand", a slogan quoted by local governments recently to justify excessive spending. Usually, when the economy slips into the doldrums, recreation is the first thing slashed from most people's budgets. Today, many people have lost their jobs; many urban residents still dream of saving money to buy a home despite surging prices; many rural farmers still don't enjoy basic social security networks like pensions and healthcare. Guangdong does have more rich people than other provinces and it's okay for them to take the lead in spending. But obviously, this stimulus plan is not suitable for other provinces in China when no such demand exists among residents there.
(China Daily 02/26/2009 page8) |
