中国应谨防投资泡沫

• 作 者: 詹姆斯·金奇 顾目
• 出 处: 学习与实践
• 发表日期: 2003年08期
• 关键词: 货币流通量 国内生产总值 中央银行 通货再膨胀 资金流动 政策顾问 资金外流 信用评级机构 资本账户 增值税率

自1997年的亚洲金融危机爆发以来,中国的经济政策始终受到不惜一切代价确保增长率的渴望的驱使,利率已下降了6次。政府一再诉诸凯恩斯主义的刺激经济的政府投资。出口商获得慷慨的退税,而中央银行使国家货币人民币与美元的汇率保持坚挺。这一切有助于产生足够的增长,以维持社会稳定,并为在过去5年内下岗的2700万国有企业工人中的许多人提供就业机会。可

Since the outbreak of the Asian financial crisis in 1997, China’s economic policy has always been driven by the desire to ensure growth at all costs, and the interest rate has dropped six times. The government has repeatedly resorted to Keynesian government investment to stimulate the economy. Exporters get a generous tax rebate, while the central bank keeps the exchange rate between the national currency yuan and the dollar strong. All this has helped to generate enough growth to maintain social stability and to provide employment for many of the 27 million state-owned workers laid off in the past five years. can