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cnn70 Post time: 2019-2-4 13:57
the Washington establishment, the Democrats , big corporations and wall street, are not friends of ...
When you enter into any discussion, please be prepared to support your conclusions with arguments based on facts and not conjecture -- which you are doing here.
So-called Chinese model has run out of power as china's economy steadily slows down.
The downward economic pressure in the fourth quarter of last year is due to governmental macro-economic re-structuring of the supply side of the national economy. Many countries could only talk about re-structuring, but so far China has been able to do it in practice.
Fiscal policy changed when the government reduced the supply side by cutting down on production capacity and oprtimizing debt/credit ratio to ensure that ROI of private enterprises.
The overall picture of the Chinese remains robust.
It was estimated at the recent Davos Economic Forum that China will become a high-income country by 2025 and the world's largest economy by 2030. The economist's name was Justine Yifu Lin, former senior vice president and chief economist at the World Bank.
What's more, at "The Economics of China's New Era," an event hosted by the Sustainable Architecture for Finance in Europe, Lin said also that "even after 40 years of extraordinary growth, China still has a huge potential for dynamic economic growth." Lin happens to be a highly-regarded economist who originally hailed from the opposite side of the Taiwan Strait.
To be more precise for your information, let me assure you that Lin attributed his optimism mainly to the fact that China's per capita GDP in 2008 was 21 percent of that of the United States, the same ratio held by Japan in 1951, Singapore in 1967, and Taiwan in 1975 and South Korea in 1977.
All of the above economies then grew by 8-9 percent per year for another 20 years. That's why he surmised that China has accordingly the growth potential of 8 percent in the future 10 years.
to be sure, it is inevitable that external challenges such as U.S. protectionism and trade conflicts would reduce the country's growth prospects -- but only temporarily. The sheer size of China's economy, plus the fact that it is still very much a medium-income country, would mean that both China's construction and infrastructural improvements will render it open for investments.
Also for your information, please note that even in the 'new' era, there is something that will continue from the past: the country will continue to deepen the reform -- which will never stop in China's structural transformation.
You might also have noticed that just earlier today, the chairman of the Davos Economic Forum paid homage to the Chinese people in Mandarin for their nation's contribution to the world economy -- responsible for generating more than a third of the global growth in the ten years after the economic downturn in 2008, and he sees that China will continue to be a significant global player in the next decade.