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 / Opinion

Stimulus very different from 2008

By Ed Zhang (China Daily) Updated: 2014-04-14 07:12

Never have economists been so polarized in their views about China.

Since the beginning of the year, many of them have been talking about the country's coming Minsky moment, or a sudden collapse in the value of assets. Others are ruling out that possibility.

Some say government stimulus, like the one in late 2008, led by the central government's 4 trillion yuan ($650 billion) commitment, would benefit the economy. Others say it wouldn't.

The market has been all the more divided since a new government investment program was announced at a State Council executive meeting in the first week of April.

Stimulus very different from 2008
Government won't resort to short-term stimulus

Stimulus very different from 2008

Some welcomed the so-called mini-stimulus as the shot in the arm the economy badly needed.

Others criticized it as a sign of Beijing succumbing to the local governments' pestering for easy credit, and of the leaders abandoning their commitment to reform.

However, all signs in Beijing suggest that China can neither expect to boost its growth rate to the pre-2008 level nor, because of its financial health, dole out large amounts of credit to struggling industries, as it did after 2008.

There isn't as much demand, both at home and abroad, for the country's already excessive manufacturing capacity. There is no point in using financial stimulus to build still more of the same capacity and to produce still more of the same goods, as an article by Cai Fang, one of China's leading economists and demographers, recently pointed out.

This is where the recently announced mini-stimulus is different from the 4 trillion yuan stimulus plan launched at the end of 2008. The bigger previous stimulus was designed to primarily bail out large State-owned enterprises, some of which even used some of the easy credit they received to relend it to smaller companies to earn interest. Many small enterprises were denied any benefit from what was meant to be an anti-crisis contingency package and were squeezed out of the market instead.

In contrast, the mini-stimulus of 2014 contains no favors for SOEs. It consists of three main components - building more housing units for the urban poor, cutting back taxes on small and micro enterprises and committing additional investment to building railways while speeding up financial reform in that industry.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 香蕉久久夜色精品国产尤物 | 久草资源在线视频 | 久久久久综合 | 国产精品单位女同事在线 | 最近中文字幕精彩视频 | 成 人 黄 色 视频播放16 | 成人性视频免费网站 | 日本一区深夜影院深a | 国产成人午夜性视频影院 | 九九视频高清视频免费观看 | 亚洲欧美在线一区二区 | 女人18毛片a级毛片 女人aaaaa片一级一毛片 | 亚洲美女黄色片 | 久草在线看片 | 国产成人亚洲精品无广告 | 国产99视频精品免费视频免里 | 欧美激情第一欧美在线 | www.亚洲成人 | 一级欧美一级日韩毛片99 | 欧美日韩一区二区三区视频播 | 日韩国产欧美成人一区二区影院 | 色天使色婷婷在线影院亚洲 | a级片观看 | 亚洲一区二区三区免费看 | 国产一区二区三区四区五区tv | 精品欧美一区二区三区免费观看 | a毛片免费播放全部完整 | 亚洲伊人久久综合影院2021 | 欧美成人综合在线 | 国产午夜精品久久理论片小说 | 亚洲国产精品二区久久 | 亚洲欧美精品一区二区 | 日本一区二区三区四区公司 | 日本三级特黄 | 久久久精品在线观看 | 国产精自产拍久久久久久 | 欧洲欧美成人免费大片 | 成人男男黄网色视频免费 | 91久久99热青草国产 | 中国美女乱淫免费看视频 | 影院成人区精品一区二区婷婷丽春院影视 |