国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Opinion

Fast times over for the smaller cities

By Ed Zhang (China Daily) Updated: 2014-02-17 07:23

But other cities that don't have much industry to attract outside workers, especially skilled ones, cannot even earn much from land auctions.

If new housing units don't sell well, local governments' land auctions will no longer be attractive to private investors in local development schemes. Small wonder that, as the Chinese media reported last week, some local governments have gone so far as to require their staff members to buy some of the housing units that have failed to find buyers in the market.

Fast times over for the smaller cities 

Regions continue to rely on capital investment for GDP 

Fast times over for the smaller cities

Solutions needed for urbanization 

This means, in the game based on the old development model, only a few large cities can win, while many other cities will fall further behind. Especially at a time of overcapacity in many fields of manufacturing, the losers can't expect to catch up either by selling more land or attracting more investors.

This is exactly the state of many local governments. The local economy is losing steam and the officials still don't have a workable strategy for change. In other words, they are in crisis, whether or not they acknowledge it.

It may sound paradoxical the country that has produced the world's fastest growth record in recent times is running out of ideas for further growth, especially viable and sustainable growth, at the local level. But this squares perfectly with the latest reports about lackadaisical business activities, weak energy demand and low inflation.

It also squares with the fact that a nation ranking only about 90th in per capita GDP (there are different listings by different international organizations) can hold so much money (in both trade and capital surpluses) without knowing how to spend it.

Running out of ideas is a typical part of the learning process. At no time in the past 30-odd years has it become so imperative for China's local officials to learn to be entrepreneurial. They can depend on the central government for general guidelines, but not for exactly what to do to differentiate themselves from other cities in business development.

This is also why we've got two hugely divergent views about how the Chinese economy will fare in 2014.

Those who focus on the micro-level have sent out alarms by pointing out an unprecedented crisis here or there.

The author is editor-at-large of China Daily.

 

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
静乐县| 班戈县| 武汉市| 汝阳县| 太原市| 宣汉县| 滁州市| 乐都县| 东明县| 佛学| 大足县| 富锦市| 洛隆县| 虹口区| 岗巴县| 金山区| 临沧市| 五原县| 东阿县| 谢通门县| 阜宁县| 石阡县| 手游| 昭通市| 固阳县| 全南县| 合阳县| 赞皇县| 全椒县| 延津县| 海口市| 延边| 海城市| 靖江市| 高青县| 许昌市| 大新县| 新龙县| 称多县| 陵水| 尚义县|