1.10 经济增长： 西班牙启示录.docxVIP

【1.10】

1.10每日一篇|熊猫外刊精读

Economicgrowth：Spanishlessons

Spainshowsthatthereisnothing?inevitable?aboutEuropesdecline

【1】AdozenyearsagoSpainwasa?byword?foreconomicfailure.Thecountry’sgovernmentandbanksappearedtobe?locked?inadeath?spiral?and?depended?onbail-outs.Youngpeoplewereleavingthecountryor?protesting?attheirlackofopportunities.Homeslayhalf-builtandairports?abandoned,?relics?ofa?burst?construction?bubble.PandaForeignMagazineIntensiveReading:RespectforOriginality,PiracyMustBePunished

【2】Howthathaschanged.Byour?reckoning,thecountryisoncoursetobethebest-performing?rich-worldeconomyof?2024?acrossarangeofmeasuresincludingGDPgrowth,?inflation,?unemployment,?fiscal?policyandtheperformanceofthestockmarket.Both?overall?economicgrowthandthepaceofjobcreationarerunningfasterthaninAmerica,whichhasbeenthe?envy?oftherichworld.

【3】GreeceandIreland,whichwerealsocrisis-strickenadecadeago,havefaredwellin?2024,too.SohasDenmark,wheretheeconomyhasbeen?boosted?bythesuccessofNovoNordisk’santi-obesity?drugs.ButitisSpainthatoffersthebest?rejoinder?tothosewhosayEuropeis?doomed?to?stagnation.Itseconomyis?reaping?therewardofpast?reforms.Thatofferslessonsfortherestofthecontinent,butshouldalsoserveasawarningforSpanishpolicymakerstoday.

【4】Onelessonistofocusonservicesandnotfetishise?manufacturing.Although?industrial?productionhasnotfallenasfastinSpainasinGermany,partlythankstolowerenergycosts,ithasstill?stagnated.Buttourismhasbouncedbackfromits?pandemic?low,andthecountryismovingupthevaluechain,increasingly?exporting?consulting?servicesandtechnologicalknow-howaswellassunandsangría.Non-tourismserviceshave?risen?fromaround?5.5%ofGDPbeforethe?pandemic?tobetween?7-8%now,saysBBVA,abank.

【5】Anotherlessonistostayopen.WhereasyoungpeopleonceleftS