CHINA 2030. Quality over speed

There has been a lot of talks about China's economy, its rapid growth since 1978 (when China shifted from centrally planned to market based economy) and its recent slowdown. Most critics on China claim that its growth will gradually slow down. Transitioning from middle-income to high-income status can be more difficult than moving up from low to middle income (WB).

A comprehensive work on China called China 2030. Building a Modern, Harmonious, and Creative Society, was conducted by a joint research team with experts from the World Bank and China (Ministry of Finance, the Development Research Center of the State Council). A four hundred page research work covering China's path 1978 - 2030, its structural reforms, growth through technological convergence and innovation, green development,
security and China's integration in Global

picture source: The Telegraph

Markets, is the product of various workshops, studies, background papers and ideas of the team. The name of the report speaks out about the conviction that China does have the potential to become a modern, harmonious, and creative society by 2030, in case it changes its institutional framework and policy.

For its next stage of development China will have to focus more on its strong sides, such as high savings, skilled labor, urbanization, and new technologies. Important messages from the report include six directions for China's further development. First, develop the private sector by increasing competition and deepening the reforms in land, labor and financial markets. Second, accelerate Chinese innovation by participating in global research. Third, consider "greener" industrial policies. Fourth, promote social security through equal job opportunities. Fifth, to meet fiscal expenditures for local governments and build a more sustainable governance. Sixth, continue being a proactive stakeholder in the global economy.

As more critics keep warning that China's economy is slowing and prove it with daily issued statistics, China itself might be focusing and implementing on its long run strategy looking much further ahead.

Comments

История о том как открыть бизнес в отдаленном регионе Кыргызстана

Недавно я побывала в Баткене и вдохновилась тем, как некоторые люди, стремясь к лучшей жизни и имея предпринимательский дух начинают создавать свой бизнес и, тем самым способствуют развитию своей местности. 47-летняя Жолболдуева Гульнара Токтобаевна известная в городе Баткен женщина-бизнесмен. Гульнару эже знают практически все в Баткене и за его пределами. Иностранные туристы и сотрудники международных, государственных организаций останавливаются у нее в гостинице «Алтын-Бешик » . Гостиница открылась 10 лет назад, в октябре 2006 года. Из-за большого количества гостей в доме Гульнары эже ее дети предложили написать снаружи дома «гостиница». Толчком послужил еще и тот факт, что приехали гости из Бишкека и остановились у нее, у которой на тот момент еще не была сформирована гостиница. Они предложили улучшить условия проживания, поставить кровати и протянуть в дом канализацию. Она последовала их советам. Открылась гостиница с одним санузлом на 5 коек. Далее люди начали с...

Armenia and Eurasian Economic Union

Eurasian Economic Union (EAEU) of Russia, Belarus and Kazakhstan is an emerging union that is gaining more actuality and relevance in the post-Soviet territory with joining of additional countries as Armenia and Kyrgyz Republic. While it was seen as another not effective project of post-Soviet Union, it appeared to be a new-style project bringing tangible gain to its members and becoming a center of attention in the neighborhood and a viable alternative to the EU (Dragneva and Wolczuk, 2015). While some Central Asian countries as Kazakhstan and Kyrgyz Republic have been analyzing their costs and benefits by joining the EAEU, Caucasian countries (Armenia, Azerbaijan and Georgia) have been planning to join the EU. Armenia is a small landlocked former Soviet Union country with population of around 3 million people. With an estimated per-capita GDP of US$ 3,619, Armenia is a lower middle-income country. After the dissolution of the Soviet Union, Armenia experienced a difficult...

Basic principles of Tariff Classification

Tariff Classification is one of the main areas of Customs Law and is crucial when imposing customs duties. Specific rules on classification can be found in HS Convention to which almost all the WTO Members (except Taipei) are party. HS consists of over 5000 commodity groups with a six-digit code. HS consists of: (1) Chapter, Heading and Sub-heading Notes; and (2) General Rules for the Interpretation (GIR) of the Harmonized System. The first one which is Chapter, Heading and Subheading Notes is the main step to identify the product classification. The second part, GIR provide certain principles to classify goods: (i) incomplete or unfinished goods if they don’t have a proper line are classified as finished goods; (ii) when goods are prima facie classifiable under two or more headings, classification shall be effected as follows. (a) A heading that provides a more specific description is to preferred to the more general description; (b) mixtures, c...

CROWD ELEVATOR

Search This Blog