Tackle three challenges via true reforms
- By Wan Zhe
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E-mail China.org.cn, January 3, 2016
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Warm current [By Zhai Haijun/China.org.cn] |
The Chinese government needs to address three fundamental issues in the economy and governance in 2016.
First, the inimical match between its strategic deployment and tactics design is obvious. China needs to restructure its economy, and has innovatively put forward the "Belt and Road" initiative and Asian Infrastructure Investment Bank, which both have far-reaching potential in finance, economy, politics and national defense, and have a direct influence on many aspects of China's economy, governance, society and industry.
Yet, having a top-level design is only the beginning, and China still lacks the corresponding detailed and practical tactics to implement these strategies. The tactics should be flexible so that they can be adjusted in a timely manner according to changing circumstances to carry out the strategic goals.
Nevertheless, many relevant parties, such as industrial enterprises, financial firms, and governments at various levels, hold a wait-and-see attitude while talking about the "Belt and Road" initiative. There have been so many documents, meetings, seminars, forums and research reports about the initiative, but they have yielded few valuable action plans.
Second, short-term policies will not generate real innovative enterprises. Although China has not yet shown signs of a systematic economic crisis, it still faces a progressive decrease of the marginal effects of its monetary and fiscal policies, co-existence of external and internal economic pressures, and a continuously declining real economy.
That the government calls for the people to found new businesses and encourages them to pursue innovation, and make good use of the Internet, is conducive to stimulating market vitality. However, the fact that it is easy to register a new venture does not mean it is also easy to make it a success.
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