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

US EUROPE AFRICA ASIA 中文
Opinion / Op-Ed Contributors

Chinese economy: high time for innovation as an engine

By Amitendu Palit (China Daily) Updated: 2015-03-06 08:22

Low value-added manufacturing relying purely on processing might not be able to bring the same results for China any more. Labor costs have increased making China less competitive compared with countries such as Vietnam, Cambodia and Bangladesh, which are now more efficient in producing a variety of cheap manufactured items. Some of these countries, in industries such as garment manufacturing, for example, are more attractive than China for foreign investments because of their ability to assemble quicker with cheaper labor.

China's fantastic economic success was a result of its ability to combine low costs with large scales. These scales were first created by domestic investment, and later supported by investments from multinational investors. Many of these investors might now be tempted to relocate elsewhere. This would be a natural response to the new advantages in value chains noticed in other countries.

What should China do then to revive growth?

Wages cannot be artificially controlled or depressed given that cost of living in China has also increased rapidly. If advantages arising from cheap labor do not exist anymore, then efficiency and competitiveness must be maintained through innovation.

Innovation is clearly what the Chinese economy needs for its next stage of economic growth. But it is important to understand the characteristics of innovation that will bring growth. China's focus on becoming an innovation economy by investing in strategic emerging industries is a step in the right direction. But investments in R&D and innovation in these industries, particularly cutting-edge industries such as aerospace, energy-efficient automobiles and biotechnology, are going to yield returns only over a long period of time. It can take up to 15 to 20 years for these industries to produce world class innovative products that can be commercially developed and sold in world markets.

China obviously cannot wait that long. It must locate other areas where short-term and simple innovations can give it results. It is here that it must plan innovations in enterprises and institutions. Chinese enterprises must introduce innovative practices that can maintain productivity in spite of rising labor costs. Chinese institutions, particularly financial institutions, should introduce more innovative financial products schemes that will help the growth of the financial services industry.

What China requires now is using innovation at the basic and fundamental level. This will bring gains for the present. More critical innovations can follow later.

The author is senior research fellow at the Institute of South Asian Studies at the National University of Singapore.

Previous Page 1 2 Next Page

Most Viewed Today's Top News
...
主站蜘蛛池模板: 国产精品综合久久久久久 | 91精品免费 | 天堂网av2018| 精品动漫一区二区三区 | 亚洲午夜精品久久久 | 国产麻豆精品在线 | 日韩精品视频网 | av网站有哪些 | 欧美一区二区不卡视频 | 久久久久久在线观看 | 深夜福利一区二区三区 | 免费成人深夜小野草 | 91免费福利| 久久黄色免费网站 | 亚洲在线视频免费观看 | 亚洲看片网站 | 色婷在线 | 久久久久久久久影视 | 亚洲图片自拍偷拍 | 99在线免费观看视频 | 国产欧美精品区一区二区三区 | 亚洲第三区 | 九九九视频 | 日韩欧美区 | 色一区二区 | 国产精品爽爽久久久久久 | 韩国精品av | 亚洲欧美在线综合 | 国产96视频| 九九热在线免费观看 | 久久久久久久99 | 亚洲精品免费看 | 麻豆av一区二区 | 欧美一二区视频 | 欧美黑人一区二区三区 | 久久国产精品免费视频 | √8天堂资源地址中文在线 亚洲成人黄色片 | 日韩爱爱爱 | 天天拍天天射 | 一级二级毛片 | 欧美中出 |