If China wants to maintain high growth in the future

(1)With summary, China will continue to make Goseong 20240203 2130 in the future
(2)To keep the intestines afloat
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(4)fmkoreacombest6683611599 복사
(5)Michael Pattis Photography, the author of the original text, is a professor of finance at Beijing University and is famous as a representative Chinese economic expert in the Western world
(6)In December last year, this person wrote an article about what it would take for China’s economy to grow 4-5 every year for the next 10 years, and the summary of the article is as follows
(7)1 One of two things is necessary for China to achieve high growth of 4-5 per year over the next 10 years
(8)1 Maintaining the growth trend centered on investment-led manufacturing, as China has done in the past
(9)2 Reducing the share of investment in GDP and transitioning to a consumption-driven economy
(10)※GDP = Net exports of private consumption investment and government spending
(11)Private consumption = Non-durable goods such as durable goods such as goods, automobiles, home appliances, food, and clothing, education, distribution, transportation, entertainment, lodging tourism, financial securities, insurance, beauty treatment, etc. Investment = Increase or decrease in intangible investment inventory investment inventory purchases to purchase fixed capital investment equipment buildings, intellectual property rights, etc. Government spending = Government officials’ salaries, public works expenditures, and transfer expenditures such as pension payment subsidies, etc. are excluded
(12)Net exports = export-import, this figure may be negative
(13)And usually, domestic demand means the sum of private consumption government spending. For example, as of 2017, Korea’s GDP structure was private consumption 481 government spending 153, so Korea’s domestic demand to GDP was 634 fixed investment 311 inventory investment 01. Therefore, the share of investment accounts for 312 net exports 54 exports 431-import 377
(14)2 Conditions for maintaining growth led by investment and manufacturing industries
(15)Investment accounts for 43 percent of China’s GDP, and considering that the global average is 25, the proportion of private consumption is abnormally low due to unusually high income. China accounts for 18 percent of the world’s GDP, while global consumption accounts for 13 percent of investment
(16)China will account for 38 of the 15 investments of the global average of 21 consumption if the current share of GDP leads to growth of 4-5 per year for 10 years In order to achieve this, that is, to accept China’s overinvestment, other countries must bring down their investment to GDP to 19
(17)In terms of production, China’s manufacturing ratio to GDP is 28, which is also significantly higher than the global average of 16. China accounts for 31 of the global manufacturing industry. If the current ratio grows 4-5 over 10 years, it will account for 36 of the global manufacturing industry. If real estate investment is converted into manufacturing investment, it will rise to 39 To do this, the rest of the world needs to reduce the share of manufacturing in GDP by 1p
(18)However, countries around the world, including the U.S., EU, and India, are increasing their investment in their manufacturing industries, leading to the rise of protectionism Moreover, if investment is increased through subsidies, private consumption will decrease, reducing the overall market, and China’s debt-to-GDP ratio
(19)Yule needs to go up from the current 200s to 450~500
(20)This growth seems unrealistic because it does
(21)3 Growth by reorganizing the economic structure centered on private consumption
(22)Maintaining the current structure, maintaining a high growth rate for 10 years, but investing
(23)And the only way to maintain the manufacturing sector’s importance level is to do so
(24)Is private consumption evidence
(25)Consumption-led to maintain growth rate of 4-5 per year with consumption per year
(26)China’s annual growth rate should be 7 but even before COVID
(27)Small increase rate 4. Of course, it’s been a cow since COVID-19
(28)The rate of non-increase has been reducedIf it’s difficult with the current structure
(29)Therefore, in the situation where jobs have decreased due to a decrease in investment, continuous cattle
(30)In order to increase the cost, the income is directly or indirectly used as a household
(31)We need to move it And the person who can pay for it is
(32)There are three types of crabs
(33)1 Wealthy People – The weak consumption power of Chinese people has large inequality between households
(34)Rather than that, when the share of national and corporate GDP is high
(35)If you go to this and that way, you will be able to resolve the inequality between consumption
(36)There will be little impact on the increase
(37)2 Companies – Implementing policies to raise wages, raise taxes, strengthen currencies, etc
(38)It’s all about industry competitiveness, but if you use this method, manufacturing, which was the core of China
(39)be badly damaged
(40)3 Government – who can pay for it realistically
(41)The current state GD flows of local governments are not good, but they are still medium
(42)Since there is a P2-30 catch, the local government is every year
(43)GD1’s transfer to households increases household consumption with household income of 5
(44)Yul can play seven times a year
(45)But in order to win a lawsuit by wealth, the political and economic transfer
(46)The need for cataclysmic change is high for local governments to transfer income to households
(47)The other expenditure of local government, the benefit of the subsidy tax system
(48)It should be said that there are many theories such as policy, finance, infrastructure, etc
(49)That is to say, the previous businesses were drawn to having to turn things into households
(50)There’s no choice but to bring about a major political change and backlash
(51)If we don’t scale back manufacturing and investment for China around the world
(52)There is only one way to maintain the high growth of cotton China
(53)To make it simple and simple
(54)The proportion of G investment DP is too large
(55)Private consumption understands that the proportion of cars is unbalanced
(56)Two years ago, the massive global economy created absorption equality
(57)I’ve done it, but I’m going to get bigger and I’m going to absorb the world of business
(58)I can’t give it to you
(59)3 Therefore, in order for the country to grow high in the future, the indigenous population in GDP
(60)We need to increase the proportion of simple expenses
(61)It’s possible
(62)That’s why I can’t find another story in other writings
(63)1 China’s GDP is multi-variable with other countries> and the figure is set by the Chinese Communist Party
(64)The figures themselves do not matter, yes
(65)It’s not like a folding manipulation, it’s just an indication
(66)It can be interpreted as a story of meeting GDP and meeting crisis production quotasLet’s cut up the haegi
(67)2 China is an export-oriented country. In fact, let’s be a nation that focuses on exports
(68)What is often referred to as export-driven is technically a market
(69)It should be seen as investment-led growth
(70)3 Business-level current account exports represented by Korea, China and Germany
(71)Surplus overproduction grows by natural countries, and overproduction is a problem undergoing imbalance and risk in the 19th century
(72)overstate love
(73)I’ve been colonized for a long time
(74)The U.S. took it out of debt, so it didn’t happen
(75)Actually, it’s because China is so big in octopus
(76)In fact, the current aggregate countries have a similar structure as typical countries that submitted water, so they have to enter the same manufacturing sector as the other countries in China, although the author wrote the same
(77)There might be, but I can still use it now
(78)inside
(79)It’s a Korean Chinese poison
(80)You
(81)But it’s easy to say that it’s intended to increase consumption with very large re-consumption, and to promote private document consumption and structural reform
(82)If the investment company S.K. collapses from the key period, the business will be
(83)shiwaki
(84)Increasing as much as possible → A vicious cycle of consumption decline
(85)There’s a possibility that it could lead to
(86)2 Concerns over over production from China are being avoided here, but the country has said that the Communist Party of China, which cannot be tolerated in terms of production, and knows where the castle is located
(87)Prize
(88)In a hypothetical situation where a very strong suspension of intervention is necessary
(89)To make up for the contraction, the problem of production costs is that in China’s Desubu, weyoga
(90)I’m going to make a mountain of patience
(91)If we increase it further, the surplus product will flow overseas
(92)Easy idea to use steel, petrochemical products for construction chiefs, global markets, if you think about going down and related companies suffering from declining profitability, which would be a case where the biggest flute ever overlaps with Korea, which is a country where Batter-electric vehicles, solar power, and other consumer goods are scarce
(93)a serious crime
(94)Let’s do Jin China and Industry Port Paul
(95)In fact, what the skin already experiences is that we know that Choi Su-pa is a surplus that doesn’t have a significant impact on this rapid growth
(96)If you look at the door
(97)China’s domestic demand will have caused
(98)The easiest way to deal with products is to push them to overseas markets
(99)The author of this article reduces the proportion, but it is somewhat ironic that Ohi-guk seems to be trying to resolve the issue by increasing the proportion of investment and investment. As mentioned above, if the private sector makes a structural reform to promote consumption, it will be a disaster
(100)

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