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[Comment] Growing up to the challenges 2009年11月02日 12:07:07

Growing up to the challenges

By Zhang Monan (China Daily)

Recently, more and more countries are seeing signs of economic recovery while the world is still under the influence of the financial crisis and the economic downturn it caused. How to quickly resume endogenous economic growth, cultivate successors to the government stimulus package and seek new sources of long-term economic growth may be the most important strategic subject of concern to governments of various countries.

Facing the financial crisis, governments of different countries have realized that to cope with the crisis not only needs them to resume the previous economic structure, but also, more importantly, depend on new technological and industrial revolutions for constructing new industrial and economic structures. According to experience in history, each global economic crisis could speed up new technological breakthroughs and promote the development of newly emerging industries and the emergence of enterprise groups and entrepreneurs, which could impel a new round of economic growth.

China's Nasdaq-style secondary stock market, ChiNext, was officially launched on Oct 30, 2009 after 10 years of twists and turns, indicating that China's entrepreneurial economy entered a rapid development path. The practice of economic growth shows that the motivation of endogenous economic growth mainly comes from large amounts of innovative start-ups. The development of entrepreneurial economy, integrating knowledge, technology, management, capital and entrepreneurship, has great strategic significance for technological innovation, institutional innovation, upgrading of industrial structure, transition of economic growth pattern and "employment-friendly" growth.

As the "post-crisis era" is coming, the global power balance is likely to favor countries or economies with high-speed growth. The vigorous driving force of a new growth cycle will originate from the newly emerging economies including China.

However, can China sustain its rapid growth? Can China find new engines for furthering economic boom given the decline of its traditional competitive advantage and evident shortage of internal motivation? The challenges facing China are unprecedented as are the opportunities China should seize.

The challenges come from the weakening dynamic of long-term growth and China is forced to thoroughly transform its previous growth model. And, the crisis is a good chance to learn and for profound self-examination.

The global financial crisis prompted China to realize that it must carry out economic restructuring and seek new growth engines, of which the most important is to boost domestic demand. If we consider that China's high-speed growth in the past three decades was mainly fueled by export and foreign investment, then future development must rely on the strengthening and expansion of native start-ups and capital. In this sense, the major step of boosting domestic demand should be to increase productivity investment in the field of entrepreneurial economy, which could be more effective than stimulate consumption.

The world economy is undergoing a new round of readjustment and shuffling with many countries endeavoring to develop low-carbon and green economy, and the US intending to return to the real economy, in a bid to regain predominance in global competitiveness. China should make breakthroughs in structural adjustment and explore the development path of entrepreneurial economy in

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阅读(15246)| 评论(168)

  1. 董晓培 2009年11月02日 12:56:31 举报
    Wish China's tomorrow better.
  2. 魏春月 2009年11月02日 12:56:36 举报
    Growing up to the challenges翻译成竞争中求成长更好吧,数据少了点,企业家经济!?是否意味着贫富差距近一步的拉大呢?贫二代,贫三代现象更严重?社会不稳定因素越来越多,又如何发展呢
  3. 李永亮 易道 2009年11月02日 12:57:29 举报
    呵呵
  4. 徐江畔 Agony 2009年11月02日 12:58:56 举报
    Wish more poors should benefit from the new economic strategy
  5. 刘成伟 2009年11月02日 13:00:09 举报
    China daily :thank u for issuing so much useful informations,which is very important for us to learn English.
  6. 杨阳❤ようよう 2009年11月02日 13:00:59 举报
    Maybe we should go back to the root, to enhance our education in the respect of carving out our own establishment. All in all ,there is a long way to go to boost our economy.
  7. 秦攀 2009年11月02日 13:08:07 举报
    读完这篇好累啊!
  8. 付龙 2009年11月02日 13:08:19 举报
  9. 王国金 2009年11月02日 13:09:18 举报
    boost domestic demand
  10. 余盼 2009年11月02日 13:10:40 举报
    回复周,成利:强,信达雅兼备呀!!! can we make friends?i am sincere.
  11. 陶玉莲 2009年11月02日 13:10:44 举报
    I believe that during the financial crisis China will definitely have an access to recover the economic.
  12. 陈娟 2009年11月02日 13:18:43 举报
    I am not interested in the economy.I do not know is mainly engaged in the relationship between money
  13. 孙栋 2009年11月02日 13:22:55 举报
    we need a qualified market system , a harsh punishment system in order to promote the quality of daily consumer goods .
  14. 甘雨鑫R♥incy 2009年11月02日 13:24:48 举报
    Maybe the global economic crisis is not a bad thing.Like the author said it impel a new round ecomic growth.
  15. 李一灵 2009年11月02日 13:32:33 举报
    China will become stronger through the depression.
  16. 赖彦翔(Angela) 2009年11月02日 13:34:55 举报
    我的presentation还不知道怎么做
  17. 何柳 2009年11月02日 13:37:15 举报
    It merits reading.
  18. 陈丽萍 2009年11月02日 13:40:29 举报
    Can China find new engines for furthering economic boom given the decline of its traditional competitive advantage and evident shortage of internal motivation? how to understand this sentence? sb could do me a favor? thanks
  19. 江玲 2009年11月02日 13:42:42 举报
    What i can do is working harder and harder.
  20. 程驰 2009年11月02日 13:46:05 举报
    expand investment in entrepreneurial economy. that's a good point
  21. 何柳 2009年11月02日 13:47:31 举报
    twists and turns怎么翻译啊。哪位高手能告诉我呢。
  22. 覃海森Haisen 2009年11月02日 13:57:21 举报
    回复周,成利:cultivate successors to the government stimulus package and seek new sources of long-term economic growth may be the most important strategic subject of concern to governments of various countries. 这句你的翻译不是很恰当,我觉得应该是, 寻找新的经济拉动点和长远的经济计划将会作为重要的战略计划被各个国家政府所关心。 (而不是 培养接班人)
  23. 吴忠鑫 2009年11月02日 13:59:55 举报
    回复周,成利:哗众取宠 机器翻译的很好吗?
  24. 宋蕊妮 2009年11月02日 14:04:24 举报
    Totally agree with the author's opinion.The development of entrepreneurial economy, integrating knowledge, technology, management...are the key to boost both economic and national power, especially in confrontation with the vigorous global crisis. But how to choose a proper way is vital ,just as the theme of Davos(ecomomic forum in Asia)this year is how to promote and develop "green economy".Really hope our nation can form a green and healthy domestic or say entrepreneurial economic system with enterprises featuring technology, knowledge, service and originality as the leading factor...And we the undergraduates will benefit a lot from the shade and impacts ,by which we can find jobs and make money more easily at least
  25. 徐震哲 2009年11月02日 14:05:34 举报
    the core of the report is that domestic entrepreneurial economy should be considered as main stimulus in next round development
  26. 于海洋 2009年11月02日 14:07:15 举报
    回复高骏哲: I hate the word sofa
  27. 吴忠鑫 2009年11月02日 14:07:48 举报
    回复何柳:应该是波澜曲折的意思,原句的意思应该是:经过十年的磨砺曲折,中国的纳斯达克式二级资本市场,ChiNext,二〇 〇九年十月三十日正式推出。
  28. 王俊 2009年11月02日 14:13:30 举报
    回复何柳:风风雨雨
  29. 梁亚旭 2009年11月02日 14:20:05 举报
    好难啊≥﹏≤
  30. 陶欢 2009年11月02日 14:20:28 举报
    ??能看懂大概。佩服用英文发表见解的朋友。好好学英文!赶明儿我也英文回下。
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