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Chinese expert: From the current crisis will benefit the United States and China

Aug 25th, 2009 | By admin | Category: Main News

from the current financial crisis will benefit in the preview of the United States and China. This opinion was expressed by the Director of the Institute of Industrial Economics, Academy of Social Sciences of China Jin Bay, speaking at the on 10 August in g.Guanchzhou Economic Forum.

According to the expert, although the United States and have caused the current crisis, their system of market economy and market competition has great elasticity. Most U.S. businesses (except automotive giants) has a strong elastic system, at least, stronger than that of Europe. China in this situation would benefit from the crisis, if preprinimat reasonable steps out of it and be able to take advantage of new opportunities.

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Jin Bay believes that out of the financial crisis must go through four stages. In the first stage, the Government is implementing macro policies to stimulate economic development, stabilize the macroeconomic supply and demand, curbing economic downturn. This stage in China, mostly expired or passed. At this stage, relying mainly on government macro policy should be made to expand the forces of supply and demand in macroeconomics, to contain the economic downturn. In the second stage, more and more enterprises, withstand the blow of the economic crisis, must complete the process of creating, restoring and enhancing competitiveness, gradually restoring a positive state of economic activity. In the third stage, there is a recovery growth of some industries and the trend towards sustainable development, respectively economic departments progressively restore the normal position, or new ones appear more obvious growth poles. In the fourth stage, there has been growth in business activity in the world market, while economic growth returns to normal.

The economist noted that although the statistics for the last few months gives more grounds for optimism, but no one dares to say that within one to two years in the future, the world will be able to overcome the crisis.

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