Make a point! How to look at the current Chinese economy? This article is very clear.

category:Global
 Make a point! How to look at the current Chinese economy? This article is very clear.


On the 13th, Peoples Daily published a blockbuster article entitled China has enough confidence to overcome any difficult challenges. The article points out that the Chinese people firmly believe that no force can deprive China of its right to development and hinder its efforts to pursue a better life. Recently, the United States has been brandishing tariff sticks and listing China as a currency manipulator. Faced with external pressure, can China overcome difficulties and challenges and continue to play an important role in promoting the common development of the world? This blockbuster article of more than 5,000 words gives an authoritative interpretation.

First, what is Chinas economic performance in the face of wave after wave of external extreme pressure?

The article gives the answer directly: Chinas economy moves forward steadily step by step.

Specifically, Chinas main macroeconomic indicators remain in a reasonable range, the role of consumption as the main engine of economic growth has become more prominent, the contribution rate of domestic demand to economic growth has been further enhanced, peoples living standards and quality have continued to improve, and the positive factors for promoting high-quality development have increased.

In international comparison, the annual growth of Chinas economy is equivalent to the total economic output of a medium-sized developed country.

China has turned against the trend and become the ballast stone and power source of the world economy. China remains the largest source of growth in the world, commented the Financial Times.

Secondly, how to treat the speech of exterior singing down Chinas economy?

The article points out that it has been a long time since the Chinese economy was sung down. International people with ulterior motives have concocted various predictions such as Chinas hard landing, RMB collapse, real estate collapse and debt collapse.

None of these predictions has been fulfilled. In the face of facts, any one-sided exaggeration of the short-term fluctuations of Chinas economic data, the voice of disharmony that weakens Chinas economy and amplifies Chinas economic risks, is powerless.

The emergence of these fallacies, in the final analysis, is due to Chinas adherence to its own path, which is not in line with the fixed thinking of some Western people carving boats and seeking swords. They do not like to see, understand and face up to the internal logic of Chinas economic development.

3. How to judge the general trend of Chinas economic development?

The article points out that face-brushing payment, smart home, unmanned supermarket, unmanned driving, cherries in Chile, vodka in Russia, high-speed rail, express delivery, 5G... The Chinese peoples food, clothing, housing and transportation are changing with each passing day, which is a vivid interpretation of Chinas economic stability and prosperity.

Generally speaking, Chinas economic structure is optimizing, its development mode is changing, its quality and efficiency are improving, and its steady and positive trend is becoming more obvious. Facts have proved that although there are external environmental risk factors, the steady and long-term improvement is a visible trend in Chinas economy.

4. Where does Chinas confidence and momentum for development come from?

The article points out that confidence and spirit come from the strong leadership of the Party Central Committee, come from the key tactics of reform and opening up, come from the people-centered development idea and come from the indomitable struggle spirit of the Chinese nation.

Swimming always chokes water, and moving forward always encounters obstacles, which is the necessity of development. It is precisely because of the joint efforts of all the people that China has transformed crisis into development opportunity and development pressure into development motive force time after time.

5. Will those attempts to force China to retreat and curb its development succeed?

Its doomed not to succeed!

The article clearly points out that the world market needs to make a big cake together. Equal cooperation and mutual benefit are the only right way. It is not only ridiculous, but also doomed not to succeed in those attempts to curb Chinas development by slapping hats, imposing tariffs, suppressing Chinese enterprises, forcing China to retreat.

For example, Cummins, an American generator manufacturer, has paid more tariffs to the U.S. government than the corporate tax deductions it enjoys; Microsoft, General Electric and other companies have written to the government, expressing great concern about Washingtons blockade of Chinese enterprises; and 661 American companies, including Wal-Mart, Kaiser and Levis, have jointly written to the White House, saying Tariff increases will hit American businesses and consumers...

Finally, the article emphasizes that China has enough confidence and strength to overcome any difficulties and challenges, and the pace of Chinas economic development is unstoppable.

The following is the full text of the article:

For some time, the economic and trade frictions provoked by the United States have brought too much uncertainty to Chinas economy and even to the world economy. The U.S. side has been brandishing tariff sticks, while the offshore and onshore exchange rates of RMB against the U.S. dollar have broken through 7 successively, and has rebounded again, listing China as a currency manipulator. The world is concerned that, as the second largest economy in the world, whether China has enough confidence and strength to overcome difficulties and challenges and whether it can continue to play an important role in promoting the common development of the world.

Opening the report card of Chinas economy and looking at the new prospects for high-quality development, Chinas economy has shown solid support and great resilience. Despite the downward pressure of domestic economy and the risk and challenge of foreign trade frictions, Chinas economic operation continues to develop smoothly and steadily, which is still the highlight of the world economy. In the face of facts, any one-sided exaggeration of short-term fluctuations in Chinas economic data, the voice of disharmony that weakens Chinas economy and enlarges Chinas economic risks are feeble.

Dont be afraid of clouds to cover your eyes. To study and judge Chinas economy, we should use dialectical thinking and long-term vision. Difficulties and problems in economic operation are problems in development. The adjustment in progress has not changed the long-term trend of Chinas economy. Opportunities outweigh challenges, and momentum remains with me.

(1)

Faced with the external extreme pressure wave after wave, Chinas economy moves forward steadily step by step. The growth rate is stable, the structure is excellent, the stamina is sufficient, the endogenous power is strong, the peoples livelihood continues to improve...

Chinas main macroeconomic indicators remain in a reasonable range, the role of consumption as the main engine of economic growth is more prominent, the contribution rate of domestic demand to economic growth is further improved, peoples living standards and quality continue to improve, and the positive factors promoting high-quality development are increasing. In mid-July, Chinas economic data for the first half of the year came out: GDP grew by 6.3% year-on-year, 7.37 million new jobs were created in cities and towns, 19.4 million new enterprises were set up daily, consumption contributed 60.1% to economic growth, and tertiary industry contributed 60.3% to GDP growth. In international comparison, the annual growth of Chinas economy is equivalent to the total economic output of a medium-sized developed country.

Focusing on doing well in our own affairs, China sees the general trend, grasps the key points and emphasizes practical work. We should adhere to the active fiscal policy and sound monetary policy, adhere to the supply-side structural reform as the main line, and take timely and more vigorous counter-cyclical control measures such as tax reduction and fee reduction. Steady employment, stable finance, stable foreign trade, stable foreign investment, stable investment, stable expectations, Six Steady work continues to be vigorously carried out in accordance with time, place and situation, promoting and interacting with each other. Preventing and resolving major risks, eliminating poverty accurately, preventing and controlling pollution, precise implementation of the three major battles, fine operation and precise exertion are rare in the world.

Economic downward pressure is a common problem facing the whole world. China is turning against the trend and has become the ballast stone and power source of the world economy. The World Economic Outlook report released by the International Monetary Fund at the end of July predicts that the world economic growth rate in 2019 and 2020 will be 3.2% and 3.5%, respectively. This is the third time this year that the IMF has lowered its world economic growth forecast. KPMG, an international accounting advisory body, recently issued a report, pointing out that although the global economic outlook is unstable and Global trade disputes continue to intensify, CEOs of Chinese enterprises are still confident of their own growth prospects and believe that they can maintain a sound performance in an uncertain environment. Encouraging economic data from China in the first half of the year eased market concerns about the global economic slowdown, Reuters reported. China remains the largest source of growth in the world, commented the Financial Times.

In judging Chinas economy, there has always been a contest between truth and lies. On the one hand, the voice of affirming Chinas economic strength and potential actively, expecting Chinas development and creating more opportunities for common development will be the main theme; on the other hand, the voice of blackening Chinas economy and exaggerating risks and challenges will pop up from time to time.

Chinas development is in full swing and the trend is irresistible. As more than 200 former U.S. politicians, scholars and businessmen jointly signed an open letter China is not the enemy, pointing out: The U.S. opposition will not prevent the sustained expansion of Chinas economy, the expansion of Chinas global market share and the enhancement of Chinas role in world affairs.

(2)

There has been a long-standing talk about Chinas economic decline. International people with ulterior motives have concocted various predictions such as Chinas hard landing, RMB collapse, real estate collapse and debt collapse. Whenever Chinas economic statistics come out, there are always some discordant voices.

When the Asian financial crisis broke out in 1997, some people asserted that Chinas economy is beginning to decline and will begin to collapse before the Beijing Olympic Games. But the fact is that China has not only withstood the spread of the Asian financial crisis, but also played a stabilizer role in the Asian economy by adhering to the policy of non-devaluation of the RMB, which has won high praise from the international community.

In 2001, when China joined the World Trade Organization, some people speculated that China would be in chaos. But the fact is that Chinas economy continues to grow at a high speed and has developed into the worlds second largest economy.

After the international financial crisis in 2008, some people put forward such arguments as the low-trough effect of the Olympic Games and the end of Chinas economic miracle. But the fact is that China has implemented a proactive fiscal policy and moderately loose monetary policy to maintain stable economic growth and make a significant contribution to the recovery of the world economy.

After Chinas GDP growth rate broke through eight in 2012, some people have put forward some signs of the so-called Chinas economic recession. But the fact is that China has comprehensively deepened its reform, expanded its opening up, improved its economic quality and efficiency, optimized its structure, maintained medium and high-speed growth, and embarked on a new journey of high-quality development.

International insightful people pointed out that the emergence of these fallacies, in the final analysis, is due to Chinas adherence to its own path, which does not conform to the fixed thinking of some Western people carving boats and seeking swords. They do not like to see, understand and face up to the internal logic of Chinas economic development.

(3)

Entering the real life of the Chinese people, we can intuitively feel the vigor and vitality of Chinas economy.u2014u2014

Face Painting, Smart Home, Unmanned Supermarket, Unmanned Driver... New formats, new technologies and new applications are constantly emerging, and innovative achievements are gradually flying into ordinary peoples homes.

Cherries from Chile, vodka from Russia, chocolate from Austria, cosmetics from Japan... The shopping cart of buy all over the world is full, contributing to the growth of the world economy.

From the half-day high-speed railway, to half-hour delivery, to half-second download of a movie 5G, the rising speed of China refreshes peoples way of life.

The rapid development of the Chinese peoples food, clothing, housing and transportation is a vivid interpretation of Chinas economic stability. It is the source of vitality, power and charm of todays China to help the Chinese people constantly realize their institutional advantages and institutional strength in longing for a better life.

Resource potential, showing the ballast stone effect. Chinas economy, with a GDP of 90 trillion yuan, can be regarded as a giant ship in the world economy, with deep draft and stable navigation. Nearly 1.4 billion people, 900 million labor force, 170 million highly educated and skilled human resources, the worlds largest middle-income group, more than 100 million market players, such a scale of industrial clusters, intellectual advantages, market capacity, formed a huge adsorption effect. We have no members to leave China, because the attraction of the Chinese market is hard to resist. Harry Sayadin, president of the South China American Chamber of Commerce, spoke with many people.

Endogenous power, highlighting the promotion of consumption. Consumption has been the first driving force for Chinas economic growth for five consecutive years. In 2018, domestic demand contributed 108.6% to economic growth, of which the final consumption contributed 76.2%. Frank Zelin, a famous German expert on China, is keenly aware that trade disputes have not curbed the growing purchasing power of Chinas middle-income groups. Chinas economic growth is more dependent on the domestic market and less dependent on foreign countries.

Develop vigor and highlight Chinas innovative energy. At present, Chinas R&D investment ranks second in the world, accounting for about 2.18% of the total economy. New momentum represented by strategic emerging industries and shared economy is growing. From 2015 to 2017, the new momentum index of Chinas economic development increased by 28% annually; in 2018, the new momentum contributed more than two-thirds of the new employment and 191 million jobs in the digital economy. According to a report released recently by the World Intellectual Property Organization (WIPO), Chinas global innovation index ranking continues to rise from seventeenth in 2018 to fourteenth. China ranks first in innovation quality in middle-income economies for seven consecutive years, and 18 clusters in China have entered the top 100 of science and technology clusters.

Regulatory capacity, highlighting Chinas unique advantages. In the new era, guided by the new concept of development, China firmly grasps the fundamental requirement of high-quality development, takes supply-side structural reform as the main line, constantly innovates and improves macro-control, and has gained valuable experience, forming the combination of government and market, short-term and medium-term, long-term, total and structural, domestic and foreign. A complete macro-control system for international overall planning, reform and development coordination. In a recent article published by the United Nations Economic and Social Commission for Asia and the Pacific, China has actively promoted its economic transformation and upgrading, paid more attention to the quality of economic growth, and paid more attention to technological innovation, thus opening up a path of sustainable development.

Chinas economic structure is being optimized, its mode of development is changing, its quality and efficiency are improving, and its steady and positive trend is becoming more evident. Facts have proved that Chinas economy has sufficient supporting conditions for stable, healthy and sustainable development. Despite the existence of external environmental risk factors, the steady and long-term improvement is a visible trend of Chinas economy.

(4)

As long as we maintain a firm foothold, increase our strength through hard work, tap our potential in reform and innovation, and open up a new Bureau in positive progress, Chinas economic navigation vessels will surely be able to ride the wind, break the waves and move steadily and farther. Recently, General Secretary Xi Jinping delivered an important speech at a seminar for non-Party personages, which conveyed to the world the confidence and spirit of Chinas high-quality economic development.

Confidence and morale come from the strong leadership of the Party Central Committee. Faced with the test of risk, the country and people are inseparable from the backbone. The leadership of the Communist Party of China is the key to the success of Chinas affairs. It plays a central role in the overall situation and in coordinating all parties, leading the people of all ethnic groups across the country through various barriers and barriers. As Robert Kuhn, an American scholar, evaluates, the Communist Party of China has a strong ability to deal with risks and challenges, to implement important decisions quickly and to ensure the implementation of strategies that need to be adhered to for a long time. Heinz Dietrich, the founder of the theory of socialism in the 21st century and Mexican scholar, said: For nearly 100 years, the Communist Party of China has maintained its vanguard nature. The quality of the ruling party is a key factor in Chinas success.

Confidence and morale are the key to reform and opening up. Over the past 40 years of reform and opening up, China has created a miracle of economic development and has become the most exciting example in the history of human development. China has become the worlds second largest economy, the largest manufacturing country, the largest trade in goods, the second largest consumer of goods, and the second largest inflow of foreign capital, with foreign exchange reserves ranking first in the world for many years in a row. The pace of our reform will not stagnate, and the open door will only grow bigger and bigger. Facing the counter-current of economic globalization, the commitment from China has contributed the most valuable confidence and expectation to the world. Since this year, China has successively promulgated foreign investment laws, reduced the negative list of foreign investment access in the national and free trade pilot zones, and further expanded the scope of opening up, showing the sincerity and determination of expanding the opening up to the world. We have confidence in Chinas continued opening up and in its future. Claus Schwab, founder and executive chairman of the World Economic Forum, commented.

Confidence and morale come from people-centered development thinking. All the Communist Party of China has done is to seek happiness for the Chinese people, revival for the Chinese nation and peace and development for mankind. Since the Eighteenth National Congress of the Party, the Party Central Committee, with Comrade Xi Jinping as its core, has made far-sighted and scientific decisions to further transform institutional advantages into governance effectiveness by deepening reform in an all-round way. We should focus on the people and benefit all the people from the achievements of development. According to American writer Andre Fulcheck, although Chinas per capita GDP is still low, China can achieve prosperity, endow its people with a better life, protect the environment and promote great culture without reaching a per capita income of more than 50,000 US dollars, which is precisely why socialism with Chinese characteristics is so remarkable and superior to Western capitalism. Locality - China has provided a much better and more reasonable system for the people and the world. Its scientific research is mostly aimed at improving the earths environment and peoples living standards, rather than cold pursuit of profits.

Confidence and spirit come from the indomitable spirit of the Chinese nation. The Chinese people are people with great spirit of struggle. In the long history of thousands of years, the Chinese people have been innovating and constantly striving for self-improvement, writing a great epic of human civilization. Especially since the founding of the Peoples Republic of China 70 years ago, the Chinese people have used their hard-working hands and sweat to change the face of a poor and white country. Yiwu salesmen, starting from chicken feathers for sugar, have achieved the world supermarket where thousands of merchants gather today; countless migrant workers go to Shenzhen to pursue their dreams and build backward small fishing villages into an international metropolis; three generations have taken root in Saihanba, planting the worlds largest artificial forest sea on Desert sandy land... The story of Chinas economic reform is the story of strong private entrepreneurs, the story of brave sporadic social experiments, and the story of humble and resolute Chinese people struggling for a better life. Ronald Harry Coase, the Nobel Prize winner in economics, praised him from the bottom of his heart.

Swimming always chokes water, and moving forward always encounters obstacles, which is the necessity of development. It is precisely because of the joint efforts of all the people that China has transformed crisis into development opportunity and development pressure into development motive force time after time. With courage and the responsibility of self-innovation, we have broken a new path and achieved a great leap from catching up with the times to leading the times.

(5)

Not long ago, the annual Fortune 500 ranking was released. Unlike in the past, for the first time this year, the number of Chinese companies on the list surpassed that of the United States.

Since Chinas accession to the World Trade Organization, the average contribution rate of China to world economic growth is about 30%, which is an important engine to promote the recovery and growth of the world economy. Over the past 40 years of reform and opening up, Chinas poverty population has decreased by 740 million people and the incidence of poverty has dropped by 94.4 percentage points, composing a brilliant chapter in the history of human anti-poverty. Since the founding of the Peoples Republic of China 70 years ago, China has created a miracle of development from a backward agricultural country to the worlds largest manufacturing country...

Chinas progress can not be separated from the world, and the development of the world can not be separated from China. From 2010 to 2017, Chinas share of global merchandise trade increased from 1.9% to 11.4%. The increasing dependence of the world on Chinas economy shows that Chinas importance as a consumer market, supplier and capital provider has become increasingly prominent.

In todays highly integrated global industrial chain, supply chain and value chain, China and the world need to follow the path of seeking the greatest common denominator of interests. Those attempts to contain Chinas economy are irrational and unreasonable in the eyes of former French Prime Minister Lafran and senior researcher Jacob Kirkgaard of the Petersen Institute for International Economics of the United States. Today, China is not only the major trading partner of more than 130 countries in the world, the only country in the world that can produce all the industrial categories in the United Nations Industrial Classification Catalogue and the biggest contributor to global economic growth, but also will bring more EMUs to the world on the high-quality development track.

If the world is good, China will be good; if China is good, the world will be better. As an Australian writer said, although influenced by such factors as Sino-US economic and trade frictions, the pace of Chinas reform will not stop. There are many chapters to tell about the story of Chinas development.

The world market needs to make a big cake together. Equal cooperation and mutual benefit are the only right way. It is not only ridiculous, but also doomed not to succeed in those attempts to curb Chinas development by slapping hats, imposing tariffs, suppressing Chinese enterprises, forcing China to retreat. Cummins, the U.S. generator manufacturer, has paid more tariffs to the U.S. government than the corporate tax deductions it enjoys; Microsoft, General Electric and other U.S. companies have written to the government expressing great concern about Washingtons blockade of Chinese enterprises, saying that it will lead to the isolation of the U.S. in international cooperation and may make the U.S. interests possible. In a joint letter to the White House, 661 American companies, including Wal-Mart, Opener and Levis, opposed tariff increases, saying that risky practices will hit American businesses and consumers... Japans Nikkei Asia Review magazine pointed out that, although these American companies seem to have a rock-solid reputation, history shows that corporate wealth can be fleeting.

Cooperation or confrontation? Open or closed? Mutual benefit and win-win or zero-sum game? The world economy has come to a crossroads again. At the critical moment of whether China can embark on the right path, China advocates, plans and actions to set the right course for the world economy and Global Governance - China is confident to follow its own path, do its own work well, coexist peacefully with other countries in the world, cooperate and win-win, and build a community of human destiny together, so as to create a better world economy. Make unremitting efforts for a better tomorrow.

(6)

Two thousand years ago, there was the opening of nine cities in Changan, the western capital, and a thousand years ago, there was the voice of the sea among the merchants of all nations in Quanzhou harbor... Through the long lens of history, the world can appreciate that the spirit and vitality of Oriental commerce has injected surging momentum into the world economy, stimulated Westerners to take the first step in exploring the new continent, and also opened the prelude to the process of economic globalization.

Today, emerging markets and developing countries, including China, are rising unstoppably, creating more than 59% of the global economy. More and more people of insight see that this development is not only an economic boom, but also a revival of civilization, which conforms to the objective law of historical evolution.

In the 70 years since the founding of the Peoples Republic of China, it has resisted the encirclement and blockade of external forces, struggled endlessly and shared its destiny with the world. On the march towards the great rejuvenation of the Chinese nation, China has greater strength and potential, strategic determination, firm determination and confidence to overcome all difficulties and challenges.

The tide rises in the East and is invincible. The Chinese people firmly believe that no force can deprive China of its right to development and hinder its efforts to pursue a better life. China has enough confidence and strength to overcome any difficulties and challenges. The pace of Chinas economic development is unstoppable. The road for the Chinese people to join hands with the people of the world to create a better future will surely be wider and wider.