www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

China transition deserves global patience

(Xinhua) Updated: 2016-02-19 14:23

BEIJING - "Patience is bitter, but its fruit is sweet." The adage from Jean-Jacques Rousseau should be made familiar to those impatient with China's economic transition.

Pessimism may prevail as China's growth eases, but rewards will go to those with confidence and patience.

Rapid growth over the past few decades has catapulted China into the position of being the world's second-largest economy, showering benefits on global investors as well as the country's own people.

But the investment-led model that propelled the development has reached its limits. A multitude of problems -- high debt levels, industrial overcapacity and environmental degradation at home and subdued global demand -- mean an imperative of bringing the economy onto a more sustainable path.

The answer is transforming the economy into one that draws strength from consumption, services and innovation.

Such a transition is bound to be painful and protracted. As China trades quantity for quality, double-digit growth of the economy would not be easy.

Worries about China's economic future have always been a facile explanation for the world's hardships, including the global market rout last week.

It would be more advisable for people to stop playing the blame game and take time to see the Chinese economy in perspective.

Firstly, China has been proactively retooling its economy, before too late. The country is trying to pull off a managed slowdown -- a rebalancing act that requires wisdom, vision and courage.

The reform strategies and measures crafted by policymakers so far indicate that China is progressing in the right direction.

The country is not content with being the world's factory and is toiling for industrial upgrades; the market is promised a decisive role; unprofitable "zombie" enterprises have been ordered to make earlier exits; carbon taxes have been introduced to encourage clean energy technologies.

Secondly, China's growth is still relatively fast. The newly-added economic output in 2015 was more than the GDP of Sweden or Argentina.

IMF data showed China contributed 35 percent of the world's economic growth in the past five years and the figure will stay around 30 percent in the years leading to 2020.

Thirdly, there have been signs that the efforts for more sustainable growth are paying off.

In 2015, consumption contributed 66.4 percent of China's GDP, up 15.4 percentage points from 2014. Hi-tech industry developed much faster than the industrial sector as a whole and energy consumption per unit of GDP is falling.

The momentum is marked. During the Spring Festival holiday week, for example, cinemas took 3 billion yuan ($460 million), up 67 percent from last year.

Official data on Thursday also offered relief. Consumer inflation picked up in January and the contraction in producer prices eased.

National lawmakers will in March convene to discuss issues that have significant bearing on economy and society, with the 13th Five-Year Plan to 2020 being unveiled.

As China stays committed to the painful but necessary reforms, a more robust economy is likely within reach.

That merits patience.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 三级毛片免费 | 天天看片日本 | 很黄很暴力深夜爽爽无遮挡 | 欧美综合一区 | 成年人在线网站 | 一级片大全| 996久久国产精品线观看 | 毛片免费全部免费观看 | 国产精品高清久久久久久久 | 中文字幕亚洲一区二区三区 | 免费看孕妇毛片全部播放 | 亚洲男女网站 | 色综合久久久久久 | 成人免费在线视频网 | 韩国美女豪爽一级毛片 | 欧美一区二区aa大片 | 亚洲视频精选 | 国产日韩欧美swag在线观看 | 国产v综合v亚洲欧美大另类 | 亚洲国产第一区二区三区 | 国产成人午夜极速观看 | 欧美日韩精品在线视频 | 午夜免费片在线观看不卡 | 日韩中文字幕一在线 | 久久99精品久久久久久青青91 | www.99精品 | 成 人 黄 色 激 情视频网站 | 亚洲天堂伊人 | 国产一区二区精品在线观看 | 国产日韩欧美视频在线 | 久久道| 国语精品视频在线观看不卡 | 日本www视频 | 99视频精品全部在线播放 | 国产成人亚洲日本精品 | 亚洲欧美视频网站 | 欧美成人免费观看久久 | 欧美日比视频 | 国产成人精品免费视频大全五级 | 国产成人精品在线观看 | 国产成人精品高清在线观看99 |