Skip to main content

China’s economy not on cliff edge


Source:Global Times Published: 2018/12/19 21:33:40

Data released from the National Bureau of Statistics on Friday was worse than expected. In particular, total retail sales of consumer goods went up 8.1 percent year-on-year in November. This is considered relatively low, compared to the previous rate. 

Downward economic pressure is apparently increasing. But some people's pessimistic views are direr than the real situation. Some even claim that China's economy has only grown by a bit more than 1 percent or even gone through negative growth. Such remarks not only deny all the work of the National Bureau of Statistics, but also do not chime with international economic analysis. 

Bad-mouthing China has spread and received popularity to some extent on the Chinese internet. This mirrors the pessimistic mood in society including dissatisfaction with the authorities' way of describing the economic status quo. This mood deserves close attention. 

The Chinese economy is indeed facing some difficulties. Some are temporary problems during economic transformation and others are caused by the international environment. But it is imprudent to equate them all as high risk. 

Officials, scholars and media should all illustrate China's problems objectively, analyzing the nation's economic outlook in a calm way. 

The government should fully believe in the public's rationality and should not be afraid of exposing negative information to the public. Scholars and media should also stick to the facts with a keen attention to detail and broad vision. 

China's economy is likely to go through more difficulties in 2019 than this year, but the economic fundamentals will not see unusual changes. Measures to stabilize growth are being initiated and implemented, and early warnings have been issued of various risks including finance, people's livelihoods and public sentiment. 

It is not easy to generate new economic growth sources, but China's economy is clearly not on the edge of a cliff. Many risks have been removed through structural adjustment. 

Bad news spreads rapidly in the internet era. If certain companies lay off employees and reduce salaries, it will quickly be exaggerated. This misdirection results from some unprofessional value orientations.

Although nothing in the economic field is 100 percent certain, the predictability of the Chinese economy remains one of the highest in the world's major economies. 

The existing problems in China lie not in the economy itself, but in bureaucracy and formalism which play an awful role in eroding social confidence. Therefore eliminating them is probably the country's top task of all.

It becomes increasingly urgent to implement reforms and remove stumbling blocks. Downward pressure and lack of public confidence are gradually interacting to form a vicious circle. This interaction of economics and public opinion might become a serious political issue if not contained in a timely fashion.



http://www.globaltimes.cn/content/1132718.shtml

Comments

Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed.
Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area”
For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number”
Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell you …

The Rise of China-Europe Railways

https://www.csis.org/analysis/rise-china-europe-railways

The Rise of China-Europe RailwaysMarch 6, 2018The Dawn of a New Commercial Era?For over two millennia, technology and politics have shaped trade across the Eurasian supercontinent. The compass and domesticated camels helped the “silk routes” emerge between 200 and 400 CE, and peaceful interactions between the Han and Hellenic empires allowed overland trade to flourish. A major shift occurred in the late fifteenth century, when the invention of large ocean-going vessels and new navigation methods made maritime trade more competitive. Mercantilism and competition among Europe’s colonial powers helped pull commerce to the coastlines. Since then, commerce between Asia and Europe has traveled primarily by sea.1Against this historical backdrop, new railway services between China and Europe have emerged rapidly. Just 10 years ago, regular direct freight services from China to Europe did not exist.2 Today, they connect roughly 35 Chinese…

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…