After the co-ordinated rate cut in October, the Chinese cut interest rates in a show of solidarity. Now the rest of the world is talking about fiscal stimulus, and China is charging ahead. The State Council has announced a vast fiscal stimulus programme to pull China through the coming grim years. The stimulus, however, is taking the wrong form. Rather than trying to prop up the Chinese economy as it was, this is an opportunity to turn it into the economy China wants – one where consumption at home has more than a cameo role. The government must seize it.
中國(guó)經(jīng)濟(jì)正在放緩，這并不令人驚訝。全球經(jīng)濟(jì)低迷，無疑會(huì)影響到中國(guó)這個(gè)世界第二大出口國(guó)。國(guó)際貨幣基金組織(IMF)數(shù)據(jù)顯示，中國(guó)經(jīng)濟(jì)2007年增長(zhǎng)率為11.9%，2008年為9.7%， 2009年則為8.5%。對(duì)西方國(guó)家來說，這樣的增長(zhǎng)相當(dāng)強(qiáng)勁。但對(duì)任何一個(gè)國(guó)家而言，如果經(jīng)濟(jì)增長(zhǎng)出現(xiàn)3個(gè)百分點(diǎn)的下滑，而國(guó)內(nèi)還不出現(xiàn)任何問題，那將是少見的。