久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

  Home>News Center>China
       
 

Analysis: China's growth blesses the world
By Zhou Qing and Mo Wangui (China Daily)
Updated: 2004-10-20 10:56

There have been articles in foreign media claiming that China's economy and manufacturing industry grew "too much and too soon."


Workers at a shoe company in Ningbo, East China's Zhejiang Province, work on the production line. Articles in foreign media have claimed that China's economy and manufacturing industry has grown "too much and too soon". The claims are thought to be groundless. [newsphoto/file]

Such claims indicate they have misunderstood the development process by which the Chinese economy merged into the global economy.

They do not understand that the adjustment in the Chinese economy reflected the needs of the globalization of the world economy, especially the contribution of the Chinese economy to the recovery and growth of global and regional economies.

They also neglected the timely reaction of Chinese macro-economic authorities and their appropriate adjustment measures to balance economic development.

The strengthened capacity of China's manufacturing industry is a result of economic globalization.

It is also a result of the development of multinational companies. Globalization is an inevitable trend of modern economic development. It enabled entrepreneurs' production everywhere by taking advantage of the areas' natural resources, capital, technology, information, management and labour, and the selling of products where there were demands for them.

China had extensive low-cost and high-quality labour resources, which have become a major attraction for multinational companies.

Presently, about 80 per cent of the world's top 500 companies have invested in China.

By the end of December 2003, China had ushered in a total of US$501.5 billion in actual foreign direct investment (FDI), making it the second largest destination for FDI, after the United States.

As a result, investment by foreign and domestic private companies has increased.

Manufacturing industries such as automobiles, home appliances and steel have expanded rapidly.

However, the expansion is a market behaviour.

Companies have compared the Chinese market with markets in other areas, and found the Chinese market more attractive.

In fact, developed countries have already enjoyed the benefits of the economic globalization.

Developed countries, which monopolized advantages of capital, technology and information, have secured huge profits through international exchanges of products, technology, capital, labour and information.

Multinational companies' global mergers and acquisitions have also led to globalization of direct investment.

Since the 1990s, multinational companies' direct investment has maintained strong momentum.

These companies have forged new types of strategic alliances and formed monopolies gradually.

During the past decade, multinational companies have begun to expand investment areas to reach basic industries.

They also increased investment in developing countries and took a leading role in many of those countries' economies.

Globalization has enabled developed countries to maintain advantages in industrial structure through adjustment. They have shifted labour-intensive and relatively technologically-backward industries, and industries with relatively severe pollution, to developing countries.

Meanwhile, they have managed to maintain a leading role in the world economy through global sales networks and their monopoly over high-end and new technology industries.

On the other hand, developing countries have been put in a disadvantaged position, because of lack of capital and technological backwardness.

Developed countries also have advantages in financial capital.

When conditions allowed, they entered the markets of developing economies.

If speculative capital flow is not managed appropriately, financial crises find their way to developing countries and hit their economies.

Because of the political advantages and economic monopolies, developed countries also have strong influence over market prices.

Developed countries could manage to raise prices for industrial products they monopolize, and keep prices down for farm produce and other primary products by developing countries on international markets.

Compared with developing countries, products produced by developed countries are competitive.

But developed countries have still managed to make international rules more favourable for their interests, relying on their influence over international organizations such as the World Trade Organization.

The key interest of the developed countries is to retain sustainable and stable economic development and cut unemployment.

In order to save costs, developed countries shifted labour-intensive industries and part of their capital-intensive industries to developing countries.

The result of this was a rise of these countries' profits and their productivity, as well as high unemployment rates, if structural adjustments were not implemented in a timely manner.

The United States is a typical example. It has shifted high-tech industries to countries such as China and India.

However, the increasing production capacity of China's manufacturing industry such as autos and steel does not pose a threat to the world economy.

It also does not lead to a price rise for raw materials or price drops for manufactured goods on international markets.

The impact of the Chinese price level on world export prices is very limited, because of the low ratio of China-made products to the world's total.

In 2000, China's commodity exports accounted for only 3.9 per cent of the world's total, and imports accounted for only 3.8 per cent.

If China's export prices dropped 1 per cent or import prices rose 1 per cent, it would only result in a drop of 0.04 per cent in the world's export prices and a rise of 0.04 per cent in import prices.

Foreign media also say that Chinese manufacturing industry's impact on the United States would evolve into a political issue, because China's trade surplus with the United States has reached about US$130 billion.

However, the trade deficit between the two countries only accounted for 22.15 per cent of the total US deficit in 2000, dropping from 45.94 per cent in 1997.

Although the rate rose slightly to 24.97 per cent in 2003 due to China's accession to the World Trade Organization, it was still lower than that in 1999.

Consequently, the increase in the US trade deficit and other issues did not originate from China. It was as a result of the absence of economic restructuring in the US.

Meanwhile, a majority of exports from China was made by foreign joint ventures.

Exports by these companies accounted for 48 per cent, 50 per cent and 53 per cent respectively in 2000, 2001 and 2002.

Foreign investment were big beneficiaries of China's exports, in turn, they also spurred the recoveries of their home economies.

On the other hand, even if China-made products sold at relatively lower prices because of the expansion of capacity, and affected the competitiveness of similar products made by other countries, they would actually benefit global consumers.

The lower prices were a result of market competition.

If developed countries including Japan and the United States do not speed up industrial structural adjustment, problems such as increasing of unemployment and the expansion trade deficits will continue.

Trade protectionism resulting from those problems will harm the healthy development of the world economy.

As an important country in East Asia, China's rapid and sound economic development has become a strong engine for the region.

China's accession to the World Trade Organization and the country's agreement to build a free trade zone with the Association of South-East Asian Nations will also greatly promote development of East Asian markets, and benefit all countries.

The relationship between China and East Asian countries is "win-win" deals, where they are not competitors.

A recent report by the World Bank has confirmed China's contribution to regional economic development in East Asia.

The report recognizes that China is a major engine in increased exports of East Asian countries.

China's imports from East Asian countries rose from 30 per cent in 2002 to more than 40 per cent in 2003.

China's strong imports have greatly spurred the domestic demand of East Asian countries, the World Bank said.

Foreign media reported that China has created more than 200 auto companies in several years, becoming the fourth largest auto-producing country.

They said that Chinese residents began to increase spending on cars rather than television sets and other home appliances, and expressed worries the monopoly capacity of auto companies could drop.

But China has developed its auto industry mainly through international joint ventures.

Presently, German auto companies account for more than 50 per cent of the market, while US and French companies account for about 15 per cent each..

Auto companies from Europe, the United States, Japan and South Korea are the major investors in and beneficiaries of China's auto industry.

When the global auto market is sluggish, market share became a real issue of concerns for foreign investors, especially in view of the expanding manufacturing capacity of China's auto industry.

With the aim of preventing the economy from becoming overheated, the Chinese Government has taken a raft of measures since the second half of last year.

The measures included curbing unwanted fixed asset investment projects and raising the bank reserve ratio three times.

The macro-control measures made remarkable achievements.

The fast rise in fixed asset investment has been curbed, growth in money supply and loans have dropped, and the prices for production materials have declined.

Uncertainties and unhealthy factors in economic development had been brought under control.

As a whole, China's fast economic growth is a blessing and not a disaster for the world's economy.

The Chinese economy has gradually become a most dynamic part of the world's economy.

Editor's Note: The authors are research staff of the People's Bank of China



 
  Today's Top News     Top China News
 

Analysis: China's growth blesses the world

 

   
 

Talks to be held on disputes with Japan

 

   
 

Quake destroys 20,000 homes, injures 12

 

   
 

China's GDP to exceed 8% in 2005

 

   
 

Traditional friendship with DPRK flourishes

 

   
 

Myanmar PM ousted, under house arrest

 

   
  Quake destroys 20,000 homes, injures 12
   
  Section of ancient Pingyao wall collapses
   
  Forest fire under control in Northeast
   
  Sediment problem eased at Three Gorges
   
  Guangdong offers free AIDS treatment
   
  Beijing, Sichuan to exchange giant pandas
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    欧美一级xxxx| 国产精品无码人妻一区二区在线| 97超碰在线视| 免费看污污网站| 黄色国产一级视频| 亚洲最新免费视频| 国产一级片黄色| 97久久国产亚洲精品超碰热| 亚洲不卡视频在线| 九色自拍视频在线观看| 手机福利在线视频| jizz欧美激情18| 日本a在线免费观看| 中文字幕一区二区三区四区五区人| 人妻内射一区二区在线视频| 日本中文字幕一级片| 中国黄色片一级| 激情综合网俺也去| 日本网站免费在线观看| 国产内射老熟女aaaa| 中文字幕1234区| 欧美三级理论片| 成人一级片网站| 日韩中字在线观看| 国内自拍中文字幕| 亚洲国产精品影视| 国产福利在线免费| 成人一区二区三| 黄色免费视频大全| 欧美黑人经典片免费观看| 成人免费在线视频播放| 中国一级黄色录像| 91蝌蚪视频在线| 成人日韩在线视频| 制服丝袜综合网| 高清一区二区视频| 另类小说第一页| 成人性视频欧美一区二区三区| 亚洲不卡中文字幕无码| 无码熟妇人妻av在线电影| 特级西西444| 69精品丰满人妻无码视频a片| 手机在线观看日韩av| 无套内谢丰满少妇中文字幕| 国产精品嫩草影院8vv8 | 免费久久久久久| 亚洲国产午夜精品| 九九九九九九九九| 亚洲国产精品影视| 99热这里只有精品7| 日韩video| 国产91沈先生在线播放| 91成人综合网| 美女日批免费视频| 好吊妞无缓冲视频观看| 91黄色小网站| 天天影视综合色| 亚洲这里只有精品| 日韩欧美国产片| 91亚洲一区二区| 国产一二三四五| 日韩极品视频在线观看 | www.久久91| 欧美日韩理论片| 超碰超碰超碰超碰超碰| 国产91沈先生在线播放| www插插插无码视频网站| av免费观看网| 亚洲国产精品三区| 特黄特黄一级片| 狠狠精品干练久久久无码中文字幕 | 黄色三级视频片| 九九热精品国产| 国产乱子伦精品视频| 黄色av网址在线播放| 国产精品亚洲二区在线观看| 色悠悠久久综合网| 欧美精品久久96人妻无码| 日韩中文字幕在线免费| 少妇av一区二区三区无码| 国产嫩草在线观看| 中国女人做爰视频| 日韩精品视频一区二区在线观看| 天天操天天爱天天爽| 欧美日韩在线免费观看视频| 成人免费性视频| 三级在线免费看| 成人午夜免费剧场| 国产精品亚洲a| 国产麻豆电影在线观看| 亚洲熟妇av日韩熟妇在线| 91蝌蚪视频在线观看| 欧美日韩亚洲国产成人| 国产免费黄视频| 久久精品久久99| 国产中文字幕免费观看| 中文字幕在线视频精品| 国产69精品久久久久久久| 日本中文字幕精品—区二区| 青青在线视频免费观看| 日本久久久久久久久久久久| 国产成人亚洲综合无码| 男女污污的视频| 日韩极品视频在线观看| 亚洲免费av一区| 无罩大乳的熟妇正在播放| 精品国产乱码久久久久久1区二区| www.射射射| 日本一二三区在线| 精品久久久久av| 黄色一级片黄色| 日韩精品aaa| 农村妇女精品一二区| 日韩中文字幕在线不卡| 777一区二区| 97xxxxx| 日韩黄色片在线| 特黄特黄一级片| 国产精品久久a| 国产特级黄色大片| 中国黄色录像片| 午夜一区二区视频| 成人在线激情网| 少妇高潮喷水在线观看| 日韩最新中文字幕| 国内自拍第二页| 亚洲欧美在线精品| 欧美 日韩精品| 久久国产精品网| 男人日女人的bb| 免费看av软件| 亚洲一二三av| 国产高潮免费视频| 凹凸日日摸日日碰夜夜爽1| 日韩精品综合在线| 日韩精品福利片午夜免费观看| 青青草原国产在线视频| 农村妇女精品一二区| 欧美视频在线观看视频| 992tv快乐视频| 中文字幕第一页亚洲| 男生操女生视频在线观看| 国产精品一区二区羞羞答答| 国产肥臀一区二区福利视频| 僵尸世界大战2 在线播放| 久久av高潮av| www.亚洲成人网| 欧洲精品视频在线| 免费极品av一视觉盛宴| 日韩成人午夜影院| 51xx午夜影福利| 中文字幕日韩精品无码内射| 老汉色影院首页| 国产成人精品免费看在线播放| 中文字幕 欧美日韩| 91亚洲免费视频| 中文字幕22页| 亚洲五月激情网| 国产精品波多野结衣| 警花观音坐莲激情销魂小说| 中文字幕第50页| 伊人再见免费在线观看高清版| www.-级毛片线天内射视视| 咪咪色在线视频| www国产无套内射com| www.男人天堂网| 少妇人妻无码专区视频| 99爱视频在线| 日本男人操女人| 在线免费观看视频黄| 亚洲欧美日本一区二区三区| 岛国毛片在线播放| 99精品一级欧美片免费播放| 91免费版看片| 国产精品333| 午夜免费福利在线| 国产精品久久久久久久99| 日本丰满少妇黄大片在线观看| a级片一区二区| 久久综合九色综合88i| 日本999视频| 天堂网成人在线| av在线免费观看国产| 一本大道熟女人妻中文字幕在线| 波多野结衣天堂| 日日干日日操日日射| 国产资源第一页| 少妇高潮喷水久久久久久久久久| 无码无遮挡又大又爽又黄的视频| 中日韩av在线播放| 法国空姐在线观看免费| 久久综合久久久久| 欧美激情成人网| 亚欧精品在线视频| 国内精品视频一区二区三区| 国产v亚洲v天堂无码久久久| 欧美精品 - 色网| 国产素人在线观看| 男人的天堂最新网址| 久草免费福利在线|