久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

News

Expert sees lots of positives in Li's work report

By Chen Weihua in Washington (China Daily)
Updated: 2014-03-12 07:28

Perspective

Nicholas Lardy, a leading authority in the United States on China's economy, felt a slight difference in the tone of Premier Li Keqiang's Government Work Report at the beginning of the National People's Congress.

He described the language used as "more decisive", "more concrete and specific" compared with leaders from a few years ago, but the message has been consistent with the ones from the Third Plenum of the 18th Central Committee of the Communist Party of China in November as well as speeches made by President Xi Jinping and Premier Li in the past year.

"In general it was a pretty positive speech, a lot of specifics, and encouraging in terms of moving ahead on the agenda," said Lardy, a senior fellow at the Peterson Institute for International Economics in Washington.

With a 7.5 percent GDP growth target mentioned in Li's report, some wonder whether China will still pursue GDP growth at any cost. But Lardy believes Chinese leaders have made it clear that they are emphasizing the quality and sustainability of growth.

"They still mention 7.5, but I think the body language is - of course I could be wrong - that 7.5 isn't do or die," he said.

In Lardy's view, the Chinese leadership has recognized that the growth model of the last 10 years cannot continue for another nine years. "The chance of big discontinuity in economic performance would rise over time. I think they have strong incentives to change the growth model," he said.

Lardy has long argued that it's necessary for the Chinese economy to slow down in order to carry out necessary reforms and switch the economy from a reliance on exports and investment to a reliance on consumption.

Expert sees lots of positives in Li's work report

"I think China is doing this because they think it's in their interest and will help them sustain economic growth over the long term at a favorable rate," said Lardy, author of many books on Chinese economy, including Sustaining China's Economic Growth after the Global Financial Crisis, published in 2012.

China faces a different environment from the previous decade, Lardy said. On one hand, the momentum from State-owned enterprises' restructuring and China's accession to the World Trade Organization a decade ago is no longer generating new growth. On the other hand, the global economy is not as strong as it was six or 10 years ago.

Lardy said the new leadership has made him more optimistic about fundamental economic reforms. But he warns of the urgency to start some reforms, such as interest rate liberalization.

Lardy argues that since the interest rates are higher outside the controlled bank sector, liberalizing the rate means banks have to pay higher interest rates and charge higher rates on their loans. It will help cut down the rate on investment and increase household income. At the same time, the private sector, now roughly twice as efficient in return on assets, will have more access to capital and generate growth at a low rate of investment.

Lardy praised the new leadership for having a good appraisal and understanding of the situation and the challenges they face.

He is especially impressed that President Xi is taking ownership of the overall reform process by leading the comprehensive reform leading group. "He is not delegating someone else. He is really taking ownership of it. At least that's a good initial sign," he said.

chenweihua@chinadailyusa.com

8.03K
...
主站蜘蛛池模板: 免费观看欧美精品成人毛片能看的 | 亚洲美女黄视频 | 暖暖日本在线播放 | 波多野结衣一区在线观看 | 91国在线视频 | 日本乱人伦毛片 | 亚洲欧美网 | 国产精品高清在线观看地址 | 亚洲国产精品免费观看 | 日韩精品久久久毛片一区二区 | 亚洲 自拍 另类 欧美 综合 | 欧美日韩一区二区综合在线视频 | 国产三级日本三级日产三级66 | 一个人免费看的www 一及 片日本 | 精品欧美一区二区精品久久 | 曰本毛片va看到爽不卡 | 日韩视频大全 | 一道精品视频一区二区三区图片 | 另类视频欧美 | 国产一区二区三区四区在线观看 | 国产孕妇孕交视频在线观看 | 99爱视频精品免视看 | 欧美成人性色生活片天天看 | 久久久成人啪啪免费网站 | 欧美亚洲黄色 | 丝袜紧身裙国产在线播放 | 欧美精品首页 | 波多野结衣中文一区二区免费 | free性丰满白嫩白嫩的hd | 女人张开腿 让男人桶视频 女人张开腿等男人桶免费视频 | 国产精品大片天天看片 | 99爱精品视频 | 亚洲欧洲日韩在线 | a在线观看欧美在线观看 | a级特黄毛片免费观看 | 在线精品免费观看综合 | 欧美国产日本 | 国产一级特黄一级毛片 | 亚洲美女在线视频 | 国产成人免费网站在线观看 | 欧美一级va在线视频免费播放 |