男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

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: 尼勒克县| 金寨县| 伽师县| 新平| 迁安市| 比如县| 淄博市| 淮滨县| 东城区| 巴彦淖尔市| 乌兰县| 洛扎县| 且末县| 陆良县| 文登市| 东丰县| 太湖县| 祥云县| 兰考县| 长葛市| 巴楚县| 镇安县| 沧州市| 定兴县| 昌吉市| 理塘县| 建始县| 彭泽县| 大丰市| 沐川县| 龙川县| 衡阳县| 辽源市| 章丘市| 新丰县| 贞丰县| 余庆县| 南岸区| 澄城县| 都安| 延庆县| 烟台市| 呼玛县| 青海省| 鸡东县| 麻江县| 宁夏| 阳新县| 南皮县| 乐昌市| 淮滨县| 姚安县| 汨罗市| 新兴县| 玉门市| 新和县| 凤山市| 布拖县| 巨野县| 神木县| 天台县| 读书| 西安市| 密云县| 天水市| 佛冈县| 若尔盖县| 左云县| 荥经县| 洛浦县| 巨鹿县| 济宁市| 凤阳县| 教育| 大理市| 六枝特区| 霍城县| 蓬莱市| 达孜县| 金寨县| 沂南县| 大英县|