Next development plan needs to balance wide-ranging relationships
- By Tan Haojun
0 Comment(s)
Print
E-mail China.org.cn, August 2, 2015
To balance the relationship between speed and efficiency
With total economic output having reached a certain level, the external conditions and internal factors supporting high economic growth have receded and, indeed, become depleted. In this circumstance, improvement of efficiency is needed to reflect the ability and level of economic development, and to provide value to economic development.
More than 30 years of development experience tells us that, the economy has reached a turning point and needs greater efficiency. That is to say, economic development must gradually turn from emphasizing speed to greater efficiency and quality, otherwise risks will steadily increase.
While maintaining economic growth, the Plan will place more stress on improvement of efficiency and quality to solve many of the bottlenecks that have emerged involving resources, environment, labor costs and employment.
To balance the relationship between the internal and external
Relying solely on internal means to solve the problems existing in economic and social development becomes increasingly difficult and can even seriously impact economic sustainability, structural adjustment, and the improvement of people's living standard. They must be solved through the balance of internal and external relationships.
"The Belt and Road" initiatives" is, in the final analysis, designed to more effectively realize economic structural adjustment and optimization through economic growth mode transformation and upgrading, and the balance between internal and external elements.
In the current domestic demand, there are many serious overcapacity problems such as steel and cement production. The most effective way is to transfer the excess capacity to foreign countries, just as the United States and developed countries in Europe transferred excess capacities to China and other developing countries before.
The "Silk Road" projects are the most effective way to transfer production capacity and expand externally. The initiative will play an important role in China's economic structural adjustment and optimization once it is carried out smoothly.
The writer is a commentator of current affairs.
This article was translated by Li Jingrong. Its original unabridged version was published in Chinese.
Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.
Go to Forum >>0 Comment(s)