Renowned China economist Li Yining said Saturday that adjusting the structure of China's economy is a "matter of life and death" while the structure of GDP is more important than its size.
The focus of the country's economic structure adjustment now should be transforming the dual structure in the urban and rural economy, which causes the widening income gaps between urban and rural residents, Li said at the China Economic Forum.
He also noted that the key to stimulating domestic demand is to raise the workers' wages.
With the external demand waned, the Chinese government has attempted to turn to domestic consumers to take up the slack. The country vows to expand domestic demand next year and increase residents' income, especially for disadvantaged groups.
However, Li said raising household income is not enough and the government also needs to improve its social security system as well as increase construction of affordable houses and public rental houses.
The country plans to begin construction or renovation on at least 7 million housing units for low-income groups next year, Minister of Housing and Urban-Rural Development Jiang Weixin said Friday.
the article is short and easy to understand.
Adjusting the structure of China's economy is a "matter of life and death" ? i still do not know the reasons why it is such a matter to china's development. the solution is not enough, i think.
Coming back from a busy trip. Enough attention should be paid to what Li said above and measures should be taken to cope with the problems we are facing.
What the artical said above has been mentioned several times. However, how to raise the revenue of residents may be a problem that economics can't solve. It's up to politicians.
"He also noted that the key to stimulating domestic demand is to raise the workers' wages.”
I think raising worker's wages should be supervised to avoid "Been averaged".
the key to stimulating domestic demand is to raise the workers' wages
The government also has to change the consume habit of the citizen's. We need a better social welfare system. We need to know that we can still make our live in our old age so we are dear to consume.
To tell the truth, I haven't understood an article totally for a long time. I , personally,prefer a short and easy article.
It reminds me of a conversation I had with my teacher several days ago. Adjusting the structure of China's economy is easier said than done. What lies behind it is worth thinking.I believe, the increasing emphasis placed on it will contribute to increase residents' income, especially for disadvantaged groups.
It's time to adjust the structure of China's economy for government. After years of high speed development, there has been a lot of problems to solve. For china, it's time to slow down and adjust itself now.