Inject confidence and power into the global economic recovery
—— Vice Chairman of the Institute of China Institute of India, Hymend Adelaka
October 24, 2023 10:24 Source: "China Social Sciences", October 24, 2023, Issue 2757, Issue 2757

China's economic development has always been the focus topic for the overseas academic circles。Recent,World Bank、Economic Cooperation and Development Organization、Morgan Chase Company、Citi Bank、Australian and New Bank and other international organizations and foreign financial institutions have raised data on the expected expected to China's economic growth in 2023,Treating widespread attention and enthusiastic discussion in the international community。To interpret the internal and external situations and future trends facing the current economic development of China,This reporter interviewed the Vice Chairman of the Indian Institute of China、Honorary Researcher,Hemant Adlakha, a professor at Hemant Adlakha, Indonesia。Adlaca Represents,Opportunities and challenges always live with each other。Even the dual pressure brought by the International Economic Change and the Domestic Economic Transformation,China has strong economic toughness、The basic facts with great potential have not changed,It will not change。China is still a global attractive party to invest in hot soil,Many foreign companies have listed China as a long -term overseas target market。The international situation changes rapidly、Today with the wind rising,Western economic scenery is no longer、Continuous recession,and the risk of "hard landing" in most developing countries has risen abruptly。In this context,The stable growth of China's economy means that it will continue to play the powerful "stabilizer" of the world economy,Inject confidence and power into the global economic recovery。At the same time,The Chinese economy proves with unshakable facts,At present, some "ridicule" theory or "singing decline" theory in some Western countries will eventually only end with disillusionment。

  

 

Hemant Adlakha interviewee/confession

  

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  "China Social Sciences": For decades,China has created a rare economic development miracle in the world,At the same time, the international financial crisis was successfully dealt with、Century epidemic and other challenges。What are the reasons do you think the Chinese economy is full of toughness?

Hamende Adelaka: Wish to know,For decades,China has always been the biggest contributor of world economic growth,China is identified as "engine of world economic growth" by many well -known international financial institutions,It can be said that it is recognized by multi -party public。As David Mann, chief economist of Standard Chartered Bank, described: since the end of the 1970s,We have seen impressive -it can be said to be the most impressive economic miracle in all economies in human history。

From the perspective of economics,,Since the implementation of the reform and opening up policy in the late 1970s,The trajectory of China's economic leap is largely due to the original capital accumulated by Chinese society,This can be attributed to a large number of foreign investment、Domestic high savings、Multiple factors such as rapid growth of productivity。After entering the 21st century,China's economic growth rate has further increased。In 2001, joining the World Trade Organization brought another driving force to Chinese society,Trade barriers and tariffs between China and other countries can be greatly reduced,Chinese products quickly spread all over the world in a short time,China has become the largest "World Factory"。

In my opinion,The miraculous growth history of China's economy first benefits from the socialist market economy model。As the theoretical crystallization of China's domestic economic reform and opening -up policy for decades,This model takes state -owned enterprises as the main body of the market economy under socialist conditions,At the same time, take into account private enterprises、Foreign -funded enterprises and other various ownership companies,It can be regarded as the most important foundation and the most unique experience of China's economic policy。When discussing the advantages of the socialist market economy model,Professor Cui Zhiyuan, Chinese scholar, pointed out in the recent theoretical analysis,Socialist market economy is significantly different from the "market socialism" in some Western economists,Because the theoretical supporters of the latter believe that "planning to the economy is not desirable、It is difficult and invalid "。

2008,Affected by the severe international situation caused by the global financial crisis,China's economic growth rate has experienced a significant slowdown after more than 20 years of high -speed growth。In the second half of 2008,The Chinese government has implemented a large -scale economic stimulus plan of up to $ 586 billion,to alleviate the negative impact of the global financial crisis on the domestic economy,This is considered one of the most important macroeconomic policies adopted in China in recent years。Under the intervention of effective measures,The Chinese economy quickly shows signs of recovering growth in the short term。

International economists and financial experts generally believe,Since the new era,Xi Jinping's economic thought has contributed to the vigorous Bet365 lotto review vitality and huge potential of China's domestic economy。President Xi Jinping has faced some challenges that Chinese society has never experienced since the reform and opening up,It is also a phased problem that every developing economy must experience,Including imbalance in urban and rural development、Revenue gap expansion、ultra -low fertility rate、Labor atrophy、Air pollution, etc.。

A series of problems emerging in the process of economic development,President Xi Jinping with his creative economic thought,New development concepts and governance ideas such as "high -quality development" and "build a new development pattern",Promote the stable growth of China's economy in a sustainable and gradual way。Under the plan and deployment of President Xi Jinping,The Chinese government initiated and implemented a series of short -term and medium- and long -term policy measures covering multiple economic fields,For example,Three -year action of the reform of state -owned enterprises since 2020,Accelerate the major project involved in the "14th Five -Year Plan" outline,Strengthen the development of small and medium -sized enterprises,Give individual households、Fiscal and Financial Support for the self -employed industry,, etc.。Through multiple hard work and unremitting pursuit,China overcomes many challenges brought about by economic uneven development with extraordinary courage and high cohesion。Today,China's economic development is increasing from the expansion and steering quality,Compared with the past,Realized a more benign cycle of social reproduction。

  Starting from the strategic global economic work 

  "China Social Sciences": in recent months,China has launched relevant recovery and expanding consumption、Promoting the development and growth of the private economy、Increase guidance of attracting foreign investment。How do you comment on this?

Hamende Adelaka: I think,The recent major measures taken by the Chinese government have all showed the recovery after further stimulating the epidemic、Attempts and efforts to optimize the economic structure。Chinese leadership can be objectively and soberly perceive,On the one hand,In the context of accelerating the evolution of the unreparable change in the world,The global economic environment is still complicated and severe,Industrial exports are blocked、Disadvantages such as international trade and investment sharp atrophy are superimposed; on the other hand,,Domestic economy is not to be blind and optimistic,The internal power of economic growth is still not strong enough。At the same time,The Chinese government realizes wisely and calmly,We must seek their own development in a world that is more unstable and uncertain,It is also necessary to further stimulate domestic demand、Give the private economy、Encourage foreign investment as a priority of economic policy -this is very rare for the accurate judgment and insight of the overall situation of the global situation and the current status of the domestic economic status。

Recent,The new report released by the World Bank will adjust the expected China's economic growth in 2023 to 5.1%。Some international scholars said,In the context of the world ’s country and major economies,,China's economy is getting out of the haze brought about by the epidemic in the past three years,The overall shows the impressive signs of recovery and the trend of rebound,This sign will provide a steady stream of motivation for global growth。A number of economic data recently released by China,2023,Industrial productivity continues the previous good situation,The original consumption expenditure at the low level has also gradually risen in recent months。Recent,Bloomberg report said,Immediately take economic stimulus measures with the Central Bank of China,Including interest rate cuts and reduction of deposit reserve rates to encourage lending and increase market liquidity,China's retail growth rate and consumer prices have also rebounded recently。

 Western fallacy does not break self -breaking 

  "China Social Sciences": Current,Species in some Western politicians and international financial media have appeared in the prospects of "singing and declining" the prospect of China's economic recovery,They claim that few economies in the world can maintain steady growth after World War II,Become the "Evergreen Tree"。What do you think of such remarks?

Hamende Adelaka: I think,Some of the significant trend of the Chinese economy's manifestation,Some western powers often give less attention,Instead, the focus is transferred to "misleading publicity",Intentionally implied that the Chinese economy is undergoing serious shrinkage,Claiming "The Golden Age of the rapid growth of China's economy has ended","China will not be able to continue to act as a global growth engine",and try to trigger the "unswerving" concerns about the Chinese economy in the larger range。

Recent,The Vice President of the World Bank East Asia and the Pacific region Manula v.Ferro said,Even if the growth slows down,East Asia and the Pacific region represented by China are still the fastest growth in the world、One of the most dynamic areas。Today,Facing the sharp atrophy of international trade、Limited international communication、Economic globalization encounters the world economic depth recession situation,The Chinese economy does face external pressure and internal challenges that are more complex and severe than before。But,If some Western media believe Bet365 lotto review that China's economic growth is entering the "long -term contraction period",This is undoubtedly wearing "colored glasses" to observe China for far -fetched attachment、The conclusion that contrary to the law。Today,China has effectively responded to some so -called "international famous market experts" with its own actions.,For example,China needs to continue to launch an urgent and large amount of monetary policy and financial measures to save the downturn real estate market。The current stable and excellent performance of China's economy in a clear way allows some of the prevalence of errors in the West in the West without attacking。

It can be said,The current economic situation in China is not only fatigue with global economic growth、The impact of global trade stagnation,It is also influenced by the United States' intention to weaken China's economy for a long time, especially the "economic war" with the goal of paralysis of China's high -tech industry。U.S. President Biden not only maintains the so -called "punitive" tariff measures implemented by the former President Trump for China,and significantly expanded the scope of the ban on Chinese high -tech enterprises,and prohibit the sale of advanced computer chips and chip manufacturing equipment in China under the name of "national security"。

Recent,An analysis of an article published by the US Foreign Relations Committee (CFR),These newly introduced restrictions are the results of the United States' concerns about China's growing advanced technology for many years。2018,The Trump administration provoked the trade war against China,Multiple rounds of high tariffs on about 360 billion US dollars of goods in China。Now,The Bayeng government follows the signing bill,Forbidden American companies and capitalists are prohibited from being engaged in semiconductors、Chinese companies developed by cutting -edge technologies such as quantum computers and artificial intelligence applications for investment,and prevent allies from selling chips to China。August 2023,The Bayeng government further increases its blow to China's high -tech industry,List many Chinese high -tech enterprises in the export control list,and accuse these companies of "supporting the basic defense industry of Russia"。It can be said,The United States regards China as the main threat to its global hegemony,At all costs at all costs to make China yield。

  Scientific Pilot creation is global influence 

  Journal of China Social Sciences: There is another point of view in the "singing decline" theory of the Chinese economy,Compared with the "road" of China and the decline in the decline in the 1990s in the 1990s,It is believed that China, which is also an Asian economy,After experiencing a high -speed growth, it will be caught into an unavoidable weakness and stagnation。How do you comment on this?

Hamende Adelaka: I noticed the existence of this remark。In my opinion,Claiming that the Chinese economy will stagnate or even decline in Japan like Japan in the 1990s.。A few months ago,I have published an article on the European "Modern Diplomacy" in Europe to point out,This concern is misleading,And emphasized that China takes public ownership as the main body、Basic economic system commonly developed by multiple ownership economies,The fact that China will show amazing toughness even during the slowdown of economic growth。

More than ten years ago,Global economists predict for the first time that China will go to the "decline" road that Japan has experienced in Japan,At that time, China had just replaced Japan to become the world's second largest economy。Today,This old debate emerges again。But,We have enough reasons to refute this concern。Some Western economists,For example, Paul Krugman commented in the column of his "New York Times",The significant rise of Japan in the 20th century finally ended with the continuous decline of economic strength,Will China repeat Japan today? Cruggman is not the first to claim that "China's economy is stagnant、Turking,Maybe the situation will become worse "Western economist。

12 years ago,Martin Wolf, the deputy editor -in -chief and chief economic commentator of the British "Financial Times", put forward similar concerns,Comments,"huge success is often accompanied by huge failure",Therefore,China, also an Asian economy, may fail again like Japan。"Until 1990,Japan has always been the most successful large economy in the world。Almost no one predicts what it will happen in the next decades。Today,People are awesome by the achievements of China。But,Is this Oriental Giant's amazing success? The answer is yes。"Wolf's confident prediction。Wolf noticed,Japan's per capita GDP rose from about 20%of the United States in 1950 to 90%in 1990,But 20 years later in 2010,drop to 76%of the United States。Therefore,Wolf used synonyms to repeat、The deduction method that can be obtained in the same reason,I believe that China will copy Japan's decline mode。

But,Most experts and analysts in China insist on thinking,"Japan is Japan,China is China,The two are not comparable ","Compare China with Japan in the 1990s to compare this move too lightly,Not worth treating it seriously ","The same as the Asian economy,The growth mode of China and Japan has some similarities,but there are huge differences ","China's economy has many advantages that the Japanese economy does not have"。Some professional observers think,From the perspective of the national system,Different from Bet365 app download Japan,China has a strong economic element to mobilize economic elements、The ability to gather social resources and guide emerging industries。One of the main factor that the Chinese economy can avoid stagnation and cliff -like decline in the next few years is that the government has always played a better role in market resource allocation。

Today,China's influence in the global economy,Including but not limited to trade、Investment、Scientific and technological innovation and cultural exchanges and other aspects -all this achievement should be attributed to the scientific guidance and powerful leader of the decision -making layer of China。Witness the advent of the "Asian Century" dawn in the world、The focus of the world economic system gradually moves from west to east today,The rise of China's economy is becoming a bright existence in the "Asian Surge",The good momentum of its strong recovery not only inspires all Asia,More encouraging the world。

  

Editor in charge: Cui Bohan
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