(Fighting New Crown Pneumonia) China Times Review: Viewing China's Economy Should Return to Common Sense
China News Agency, Beijing, March 5th: Viewing China's economy should return to common sense
China News Agency reporter Li Xiaoyu
The more indifferent it is, the more it needs to return to common sense.
Nowadays, some people think that the Chinese economy will stagnate under the "storm" of the epidemic, just forgetting a few basic common sense.
One of the common sense is that the extent to which the epidemic affects the economy depends mainly on time. The longer the duration, the greater the economic losses.
Since the outbreak, China has decisively adopted a series of unprecedentedly severe measures to strengthen prevention and control. At the same time, some economic activities have "frozen" or even "suspended" in the short term. And more room for the main objectives of economic development throughout the year. If you only see the pressure on the Chinese economy right now, and you don't notice that it is accumulating energy for the future, it is undoubtedly biased.
The second common sense is that any economy is an organic system and has a growth trend that conforms to its own development law. External shocks can only put the economy under pressure temporarily, it will not completely disrupt its previous progress, nor will it destroy its development foundation.
Throughout the history of human society for nearly a century, no big country has been stagnated by the epidemic economy since then, and generally it returns to the normal development track within a few months after the epidemic subsides.
In the past few days, the progress of China's resumption of work and production has accelerated, and the demand for "retaliatory consumption" has continued to accumulate, and it is urgently released. There is reason to believe that once the epidemic is over, China's economy will regain its vitality.
The third common sense is that when the economy is facing shocks and challenges, the government will strengthen macro-control and will not do nothing.
China has now made clear that its proactive fiscal policy needs to be more proactive and that a prudent monetary policy should pay more attention to flexibility and moderation. It has also introduced a series of counter-cyclical adjustment policies, such as tax reductions and exemptions for small, medium and micro enterprises, and increased credit support.
At present, China is one of the few countries where monetary policy is still normalized, and the deficit rate has been strictly controlled below 3%. This means that compared with other major economies, China has more adequate policy tools and space for stabilizing economic growth. The next step can be to combine fiscal policies, monetary policies, industrial policies, employment policies, etc. to form a greater synergy to provide sufficient The impact of intensity and rhythm on the outbreak.
Fourth of common sense, in the medium and long term, capital, labor, and technological progress are the most important factors for the steady development of a country's economy.
In these three respects, China's advantages have not wavered: the accumulated capital for many years will not "gray and die" because of the epidemic, and its accumulation method and the speed of renewal will not fundamentally change; human resources and human resources reserves are still strong, and the labor force The supply is still the highest in the world; not only has technology research and development and innovation not slowed down due to the epidemic situation, it has also accelerated. 5G, cloud computing, big data, artificial intelligence, industrial internet, etc. all shined in the epidemic.
From this perspective, the basic factors that support the long-term sound development of China's economy are still there, and the resilience, potential and space of China's economy are still there. China's economy will not be "blowed by rain and wind." This is not only a judgment based on the above common sense, but it will also be proved by facts. (Finish)