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Supply-side structural reform key to China's growth [Copy link] 中文

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Post time 2016-1-23 09:52:25 |Display all floors
BEIJING - Chinese tourists have grabbed global attention for their frenzied shopping overseas in recent years, bringing home goods from designer outfits to quality life necessities, electric cookers for instance.
While domestic consumption is slack, enthusiasm for haitao (buying overseas goods online) is running high. The scenario is a perfect opportunity to explain "supply-side structural reform ...

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Post time 2016-1-23 09:52:42 |Display all floors
This is so true. For example, Changsa Broad Group's modular high rise modular construction system has to use imported fine steel thus raising costs substantially. Another problem is software. Chinese business culture somehow is not willing to spend money on software such as design, packaging, advertising, brand building, and marketing in adding value. Their main focus tends to be on pricing only thus allowing the likes of Apple to reap most of the profits.

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Post time 2016-1-23 17:38:24 |Display all floors
China's supply-side structural reforms must include both the State-sector and public-sector in which the allocation of resources and promotion of personnel were made on the basis of politics not economics in years past. In order to subject both the State-sector and public-sector to economic competition and market discipline, e-commerce business models should be adopted by State-owned enterprises and public-administration entities so that business transactions with the private-sector can be done online, removing the window for rent-seeking behavior based on interpersonal relationships called "guanxi".

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