在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

US EUROPE AFRICA ASIA 中文
Business / View

Don't blame the Chinese economy

By Ken Davies (chinadaily.com.cn) Updated: 2016-02-02 10:01

When asked to comment on reports that he was dying in poverty in 1897, Mark Twain replied in a letter that ended: "The report of my death was an exaggeration." The same may be said about today's Chinese economy, which, while slowing, is definitely alive and kicking.

Don't blame the Chinese economy

During the half century that I've been studying modern China and its economy, perceptions of that economy in the rest of the world have been reversed, and then reversed again.

In the 1960s and 1970s, the Chinese economy was ignored as irrelevant because it was small and closed. China's GDP was far less than that of a small country such as Belgium. And trade accounted for only a few percentage points of that GDP. When I tried to sell myself to companies on the basis of China's enormous economic potential, I was treated (to put it politely) with extreme skepticism.

Fast forward to the 2000s and China, now one of the most open economies in the world, had long been "flavor of the month" with foreign investors and was said to be about to become the world's largest economy. The world had previously been accustomed to saying that when the United States sneezed, the rest of the world would catch cold. It was now saying that Chinese super-growth of 10 percent a year would pull the world out of recession.

But when China's GDP recently slowed to "only" 7 percent a year, which statement became a negative one: when China sneezes, the rest of the world catches cold.

For the policymakers and central bankers in China, this must look rather strange. One minute, they could well say, you are complaining bitterly that China's rapid economic expansion is driving up the prices of energy and raw materials, not to mention real estate prices in London and New York, the next minute you are blaming us for your failure to recover from a recession that we had absolutely nothing to do with.

Though I am not famous for agreeing with everything the Chinese government does, I have a lot of sympathy for this latter viewpoint.

Yes, the fall in the Shanghai Composite Index and in the yuan exchange rate has contributed to the developing bear market in Western countries, though there are plenty of other factors. Yes, economies that are dependent on exporting oil and industrial raw materials to China are suffering from slacker demand expansion there.

But no, China is not responsible for the complete bloody mess that includes the Euro zone debt crisis, the short-sighted failure of countries such as Russia to diversify out of oil and gas, the complete exhaustion of recession remedies (primarily "quantitative easing") in the United States and Britain, the failure of other "BRICS" or "Emerging Market" countries (Brazil and South Africa come to mind) to achieve sustainable development, and many other problems that cannot be put right by actions of the Chinese authorities.

While China's economy remains far from perfect, it is still doing much better than in earlier periods of its post-1949 development, and far better than most other economies around the globe.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: www.黄色片 | 麻豆91在线 | 欧美日韩国产三级 | www四虎 | 国产盗摄一区二区三区 | 免费特级毛片 | 欧美日本在线观看 | 九九精品在线观看 | 深夜在线视频 | 精品日韩一区二区三区 | 成人福利视频在线观看 | 18视频在线观看男男 | 国产成人在线观看免费网站 | 亚洲视频一区二区三区 | 国产激情久久久 | 成人国产精品久久久网站 | 色综合一区二区 | 黄色免费av | 国产精品区二区三区日本 | 在线观看av免费 | 亚洲国产成人av | 亚洲精品成人 | 中文字幕超清在线观看 | 成人免费毛片片v | 午夜视频免费 | 欧美黑粗大| 中文字幕在线免费播放 | 国产午夜免费 | 黄色小视频免费看 | 欧美一区二区三区在线视频 | 亚洲在线播放 | 99国产精品99久久久久久 | 岛国精品在线播放 | 亚洲天堂男人 | 日韩综合久久 | 国产999视频| 天天天天躁天天爱天天碰2018 | 久久久国产精品人人片 | 欧美亚洲在线观看 | 伊人久久中文字幕 | 手机在线免费av |