The supply side structural reform according to the changing situation — Theory – acbel

The supply side structural reform according to the changing situation — Theory – original title: the fundamental purpose of the supply side structural reform according to the changing situation – supply side structural reform is to improve the level of social productivity, implement the development thought of taking people as center. The supply side structural reforms at the right time since 2008 since the financial crisis, China’s economic growth rate in 2010 reached 10.6% to two digits, the rest of the year have been reduced to single digits, from 2011 to 2015, the economic growth rate is 9.5%, 7.7%, 7.7%, 7.3% and 6.9%, expected economic growth in 2016 was 6.5%~7%. Rapid economic growth from the rapid growth, reflecting the basic characteristics of China’s economic operation under the new normal. The reasons for this situation, on the one hand is the law of economic development, on the other hand, there are cyclical and structural factors. On the former, China is already the world’s second largest economy, such a huge amount of the economy, but also to maintain the growth of the figure of two, neither realistic nor possible. Even about 7% of economic growth in the world’s major economies are also in the forefront. In the latter case, the impact of the financial crisis has not dissipated, cyclical factors of investment, consumption and weak external demand also affect the world economy is on the road to recovery; specific to our country, is also affected by cyclical factors, but long-term structural contradictions since the scale and speed of economic development has lead to extensive growth do not get very good solution, is one of the important reasons. When economic growth fell, over the years, there have been two different countermeasures. One is from the aspects of investment, consumption and net export, that is to find solutions from the demand side; two is from labor, investment and efficiency (TFP) and other aspects, namely seek solutions from the supply side. Due to stimulate demand in a relatively short period of time to stimulate economic growth, so it has been our customary practice, it does play a role in maintaining growth. However, the long-term demand, cumulative negative effect is more and more big, outstanding performance in: a lot of investment is inefficient or ineffective, resulting in excess capacity, inventory increases, the rate of return on investment decline; a large amount of capital investment led to the rapid expansion of local debt, leverage rose; social capital could not find good investment the channel "off into the imaginary real, easily induced asset price bubbles; supply and demand mismatch, some supply demand, resulting in excess capacity, some have no demand supply, diversification, personalized, high-end consumer goods in the country rarely supply, resulting in some of the outflow of consumption abroad; some supply is difficult to meet the demand lack of education, health care, pension, and other public goods supply, and people really have the demand. At the same time, the new problems and new situations in the economic and social development also promote the structural reform of the supply side. From a domestic perspective, with the "Lewis turning point" coming, supporting China’s rapid economic growth for many years the demographic dividend is gradually disappearing, rising labor costs, labor’s contribution to economic growth is smaller; the past high input, high consumption, high pollution of the mode of growth, to the natural resources and ecological environment)相关的主题文章: