Section 393 The middle-income trap

The "Planetary" panel discussion was in full swing, and Deng Xianxian, who was in attendance, couldn't hold back, participated in the opinions from time to time, and recorded the opinions of the senior brothers and sisters, and after 12 hours of continuous discussion, a set of meeting discussion materials was refined. With regard to the development of the domestic economy, the following adjustment suggestions are put forward:

1. Continue to implement a proactive fiscal policy, strive to give full play to the role of monetary policy, and make every effort to resolve the contradiction of insufficient effective domestic demand by making concerted efforts to use economic levers such as taxation and prices.

2. Raise salary. It is necessary to appropriately raise the level of social security, speed up the flow of talent, and raise the wages of working personnel.

3. RRR and interest rate cuts. The reserve requirement ratio will be around 3.75% from a high of 5.5%, and the central bank's benchmark interest rate will be lowered by 1 percent, while increasing support for angel funds from various chambers of commerce.

4. Adjust consumption policies, cultivate consumption hotspots, optimize the consumption environment, update consumption concepts, and do everything possible to stimulate consumption and stimulate economic growth. We will open up the rural market, stimulate the holiday economy, and adjust the tax and fee policies that restrict consumption.

5. Promote the change of people's ideological concepts, publicize the concept of "life in the new era", and strengthen the guidance of people's economic consumption.

6. Establish and improve the social security system, in addition to the three types of old-age insurance and medical care and unemployment insurance for urban workers, and promote rural public medical insurance on a pilot basis to eliminate worries about consumption.

7. Implement active employment and re-employment policies, and resettle migrant workers who are willing to engage in manual labor by major chambers of commerce and enterprises (the chamber of commerce will withdraw as a member obligation, and those who cannot complete it will be expelled from the chamber of commerce).

8. Improve the distribution system, levy inheritance tax, luxury goods tax, asset transfer tax (exit), etc., handle the relationship between efficiency and fairness, and narrow the gap between the rich and the poor

9. The most fundamental thing is to vigorously develop the economy, expand the domestic market, open up and occupy the international market, and balance the relationship between production and consumption through the joint efforts of the major chambers of commerce and enterprises in China.

"It seems that our study walkers do have two brushes." Xiong Xiling flipped through the more than a dozen pages of material, and his beard curled up happily.

"Yes, you can find the root cause of the disease, and you can also prescribe a good prescription, and it can be of great use after some experience." Meng Luochuan Meng Lao, who has rarely appeared now, also came to attend the meeting, and this meeting will determine the major policies for the next five years. However, seeing that the children of old friends are so good, thinking that their grandchildren are also talented, and there are many people who can take over the family business, but there is no one with such a broad vision, it seems that it is time for the children to go out and break through. But maybe there is another way, thinking of his granddaughter who is the pearl of the palm, maybe the Sichuan baby who rarely speaks but can always say a word is worth paying attention to.

"Let them all be there for tomorrow's meeting." Of course, Wu Chenxuan knows the ability of these little guys, more or less of them are famous figures in modern Chinese history, look at his team, several people at the helm are almost old, and in addition to a few generals in the army are still in the prime of life, there are also some talents in party affairs, but there are some young people in the government, and there are too few people in the Mesozoic Era who can take the lead, so they have to pull out the seedlings to help them grow, so that these few people can take the lead as soon as possible to calm down and prepare to deal with the world catastrophe ten years later.

"For a long time, many people in our government have positioned the "troika" of investment, exports, and consumption as the driving force of economic growth, and in fact we have used the "troika" to drive economic growth, especially during World War I. Not only has the national economy developed by leaps and bounds, but I think your family has also benefited a lot. Wu Chenxuan's words made all the bigwigs who came to the meeting smile, and the general seat actually hoped that everyone could repay everyone's loyalty and dedication through the improvement of the family's economic strength, which was much better than releasing military power with a glass of wine

"The real driving force of economic growth can only come from the "three engines" of the supply side - institutional reform, structural optimization, and factor upgrading, which is also the change, transformation, and innovation that we have been emphasizing, and they are the real healthy and sustainable driving force for economic growth by improving total factor productivity. In recent years, exports have suffered setbacks, the domestic market has weakened, a large number of products have been squeezed, there is a shortage of work, and unemployment has risen, which shows that the dynamic structure of economic growth has begun to undergo major changes. If our economic policies do not adapt to this change, we will inevitably fall into the trap of middle-income countries. ”

"The middle-income country trap?" All the attendees and attendees were taken aback, because the elites of these countries had never heard of the concept.

"Yes, it's the middle-income trap." Wu Chenxuan explained this concept from the end of this century: "The so-called middle-income country trap refers to a state in which a country's per capita income reaches the middle level, because it cannot smoothly realize the transformation of the economic development mode, resulting in insufficient economic growth momentum and finally economic stagnation." ”

"How so?" Xiong Bingsan feels that now the country's 500 million people can achieve basic food and clothing, even orphans, widows and widows are adopted by charitable organizations such as the Tzu Chi Association.

"I'm afraid Soza's worries are justified." Xu Shichang, who is in charge of the national economy, feels it the most. "In fact, the domestic economic statistics for this quarter have come out, and the post-war economic malaise has reached a very serious level. Not to mention anything else, Xiong Lao, 23% of our iron and steel companies have been closed, and the others are also limited in production and pressure storage, and the two in Shandong and Shanghai Shanghai Iron and Steel can start at full speed. In addition, one to two percent of enterprises in the automobile industry, textile industry, and complete equipment industry are either bankrupt or forced liquidation by banks, and the economic situation is not optimistic. ”

"Not bad. I also want to mention this matter, although the enterprises of our Shandong Chamber of Commerce still maintain a market growth rate of 5%, but the profit has fallen by nearly fifty percent, it can be said that the price is used to reinsure the market. Although it can be supported in the short term, I am worried that if it causes vicious price competition in the market, it may not be a good thing for the development of domestic industry and commerce. Meng Luochuan's face is very grim, Lu Lao can no longer be a director, Rong Boss served as the head of the Jiangsu and Zhejiang Chamber of Commerce, but the Jiangsu and Zhejiang Chamber of Commerce, which has always been fighting against the Shandong Division, has now also encountered a cold snap, and the financial industry has developed in the Jiangsu and Zhejiang regions because of the example of the bank's bankruptcy liquidation because of too many bad debts, the shrinkage of the textile market, especially the sharp decline in exports, has made many bosses of the Jiangsu and Zhejiang Chamber of Commerce have been silent, originally in the national land reform, the first to sell land to the country, The textile retail households composed of the landlords of Jiangsu and Zhejiang who invested in industry and commerce became the biggest victims, and there were no less than 100 small textile factories purchased by the Jiangsu and Zhejiang Chamber of Commerce alone. At present, banks everywhere are tightening their monetary policies, no one is willing to invest to bail out the market, and interbank lending has become extremely difficult.

"Is it so serious?" Xiong Xiling gasped, feeling that China had solved the problem of feeding the whole people that had plagued the central government for thousands of years, and that it was also recovering national power, and that the status of Chinese overseas had also been greatly improved, and that the United States had to consider completely abolishing the Chinese Exclusion Treaty. Unexpectedly, under the glamorous appearance, China's economy is already in crisis. Xiong Xiling hurriedly gathered his mind and listened to the boss continue to explain.

"According to the current international standards of its peers, China's per capita GDP has reached 1,200 US dollars in the 12th year of the Republic, and it has entered the ranks of upper-middle-income countries. In today's world, the vast majority of countries are low-income and poor, and the so-called "middle-income trap" does not exist. But countries like Japan, Poland, and Mexico, which all entered the middle-income category two or three decades ago, are still struggling with a GDP per capita of $300 to $350 and have no hope for growth. Wu Chenxuan's words surprised many people to find that their envious eastern neighbor seemed to be the best in East Asia, but it did not seem to have made much progress in the past two decades.

"The trap that we and these countries face is the middle-income trap. This category of countries has developed rapidly after emerging from poverty, moving from low-income countries to middle-income countries. But what is likely to be followed is stagnation. After breaking through the "poverty trap" of $100 per capita, emerging market countries will soon rush to the "take-off stage" of $200 to $300; However, when the per capita GDP is around 300 US dollars, the contradictions accumulated in the rapid development have erupted in a concentrated manner, and the renewal of their own systems and mechanisms has entered a critical stage. China, the third largest economy after Britain and the United States, is a giant ship, and if we fail to grasp the direction of the wind in time and cross this reef, there is a threat of being eliminated by international competition. Therefore, what we are discussing today is not only how to invest in construction or engage in some big projects to catch up with the United States and the United States, but how to lead China's giant ship back to a smooth road in the next five years and ten years. ”

Wu Chenxuan's opening remarks instantly sublimated the theme of this meeting. All of the people present felt a weight on their shoulders. In the next few days, the boiling water bottles of the General Affairs Office had to be delivered to the venue by car every day, and the little girls in the secretary group were even more busy with their feet on the ground. Even Li Jinglin and Huo Diange, the two martial arts masters of the security department who were on duty at the door, were surprised that the energy of these high-level leaders was so amazing, even when the discussion was in the evening, the next morning, as soon as the sky was bright, these middle halls would hurriedly enter the venue with a teacup while eating pancakes and fruits, and their eyes were full of eager light. Although I can't understand what these adults are discussing, it is definitely a major event related to the rise and fall of the country, and Li Jinglin and Huo Diange are even more unclothed day and night on duty, hoping to do their part for these adults who are doing their best for the country and the people.