in fact, the economic downturn will give us what kind of challenge? It is our ability to calmly deal with it?Zuo Jun: Challenges facing the economic downturn is comprehensive.
in the past we are too dependent on the Keynesian macroeconomic analysis framework, in fact, a lot of deficiencies.Keynesian macroeconomic analysis framework overemphasis exports, investment and consumption demand of these three effects, the relative neglect of the role of the supply,parajumpers pas cher, and in fact the economic development is the result of interaction of supply and demand, supply factors,parajumpers femme, including technological progress,abercrombie, human capital increases,doudoune parajumpers, the structure upgrade even institutional innovation.We have too much emphasis on short-term analysis, long-term analysis of relative neglect. Our analysis also overemphasize economic factors,parajumpers france, the relative neglect of the analysis of non-economic factors; too much emphasis on the role of government, the relative neglect of the role of the market. In the past few years, the anti-crisis, the government obviously used the Keynesian theory: crisis.
of which the most important is the institutional change, because the structure and elements of optimization upgrades are dependent on institutional change.Life Week: In other words,hollister paris, we have to use the means to stimulate economic development,barbour homme, to maintain their competitive advantage in low-cost disappear out of welfare spending should be compressed to make up later. Leaving only the institutional changes, structural optimization, upgrade these three elements to make a fuss, in order to promote sustainable economic development. After that we do macroeconomic analysis, is not it should pay more attention to changes in these three factors?Zuo Jun: I think we should analyze the macroeconomic perspective few more dollars.
mention is to reduce the “demographic dividend”. “Demographic dividend” of change, is an important factor in China’s economic growth downside it?Zuo Jun: demographic dividend is only one factor affecting China’s economic growth momentum of China’s economic growth on an objective,barbour femme, broad face covered. Including the demand for power, that we often say “troika”; the second is to optimize the power structure,christian louboutin outlet, industrialization, urbanization, regional economic integration, industrial upgrading; third is to increase factor inputs; four elements of the upgrade, that technological progress human capital increases, such as information technology; five is institutional change, through institutional change can mobilize everyone’s enthusiasm and creativity,felpe hollister, promote economic growth; six is � istorted, especially depress prices of production factors; seven is to keep welfare spending, increase economic development expenditures; eight is to adopt economic stimulus; nine through government enterprise, the pursuit of high economic growth.Now, six of which have suffered different degrees of problems, only institutional change, structural optimization,barbour soldes, the power of these three elements of the upgrade is the main driving force in the future of our country.
and economic growth declined, unemployment has increased, it began to emphasize the role of government, massive investment by governments, large-scale construction, large-scale printing money. This brings two results: on the one hand, rapid economic recovery and a rebound, immediate; on the other hand,christian louboutin, the economy has begun to emerge or imminent large-scale asset price bubbles,abercrombie paris, massive inflation,giubbotti peuterey, massive bad debts,moncler piumini, massive debt the burden of massive overcapacity and large-scale market-oriented backwards.In addition,woolrich, we overemphasize the total macroscopic analysis,christian louboutin sale, the relative neglect of the microscopic analysis of individual behavior, and in fact often the macro and micro economic development,air jordan, integration, and macro aggregates is built on the basis of the microscopic behavior.Life Week: In the period of rapid economic development, we do not like to mention the economic downturn of the argument.