中国老而不复)(国外英语资料).docVIP

中国老而不复)(国外英语资料) Chen Zhiwu, a famous economist and professor of finance at Yale University Since the reform and opening to the outside world in 1978, the achievements of Chinas economic growth have been outstanding. In 1980, Chinas GDP was equivalent to 4% of the worlds GDP, rising to about 16% in 2006. Compared with India, in 1980 Chinese per capita GDP is about India 2/31990, per capita GDP equal to two countries in 1990, after China per capita GDP began to exceed India, Chinese per capita GDP today is almost two times the per capita GDP in India. But behind this achievement, we can see many structural problems. Look at consumption first. In 1952 China private consumption is about 69% of GDP, close to the United States today private consumption accounted for U.S. GDP 71% level; by 1978, China private consumption was the equivalent of 45% of GDP, but until recently, the proportion has dropped to about 36%. By contrast, government spending, which accounts for about 16% of GDP from the planned economy, has risen to about 30% recently. If the government revenue and expenditure budget are also counted, will be more obvious. Look at the income. A recent article in the peoples Daily said that from 1993 to 2007, the proportion of labor remuneration to GDP dropped from 49.49% to 39.74%, down by almost 10 percentage points. And the Beijing News has done an estimate, the figures are even more amazing: the proportion of labor income to GDP from 1983 peak to 56.5%, down to the lowest point in 2005, 36.7%, 22 years down 20 percentage points. These figures are consistent with what we observe in our lives, that is, the proportion of workers income to the overall national income is getting lower and lower. Two Americans have written a paper on the changes in Chinas manufacturing, employment and pay. They estimated that Chinese manufacturing workers pay for one hour, roughly equivalent to the U.S. industry workers pay 3% hours; the China is close to Philippines, its manufacturing w