snowfoxzc 发表于 2011-1-9 19:52 
1. Service Industry can't be developed, unless you're already good at Agricultural and Manufacturing industry.
Otherwise, who needs Service? If real economy is in a bust, why bother IPO? For whom?
2. Service Industry requires much higher levels of legal enviornment, which we don't have.
3. Almost every sector in service industry is STRICTLY regulated, controlled, or even 90% dominated by Gov., which stifles its development.
Agreed!
The thrive of the service sector is the consequence, rather than the cause, of the development of 'real economy'. People's misunderstanding towards high service sector as a symbol of advanced economic development is likely from a statistical mis-match. In the States, R&D activities that serves manufacturing is censored as service, rather than manufacturing. So service sector is overestimated from the statistics.
China is still proceeding on the road of (better) industrialization. Focus too much on service section might crowd out the industrial development, which we need most for poverty reduction and knowledge accumulation.
Beijing, a 'developed' region of China, once tried to foster its service sector and minimize manufacturing industries. SARS of 2003 and Olympics of 2008, which damaged growth, overturned people's fancy impression on service. Now, the administration attempts to development service section in a way of 'industrial integration' between service and manufacturing in industries such as autos, bio-phamercutial, IT and some others.