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阿拉善翻译公司关键字：The so-called China's economic专业翻译公司服务最好的 growth, "lower" high, is based on 80 years of observation of the basic characteristics of China's economic专业翻译公司服务最好的 conclusions. Throughout the 1990s China has been implementing market-oriented economies in transition is to change this characteristic? This is needed to test the empirical analysis. As China's National Bureau of Statistics released the unemployment rate is almost a "constant", from 1996 to 2000, basically unchanged, has been fixed at 3% level [10], neither the economic专业翻译公司服务最好的 fluctuations, and far below the true unemployment rate, this figure does not have the statistical analysis of significance, to consider a different angle, the change from an industrial point of view the average profit margin of China's economic专业翻译公司服务最好的 growth, "lower."
Market economy, the production simply to profit as the driving force for changes in demand and prices are very sensitive, financially completely independent, must assume all the debt, no profit will not invest, not long-term excess capacity and staff, not to refuse to repay bank loans in arrears. But China's situation is different, market-oriented transformation of the budget does not eliminate "soft constraints" (Kornai 1992), the state-owned enterprises are still to some extent, there is a "thirst for investment", blindly refused to repay bank debt after the investment and excess capacity is common phenomenon. In the early years of China business专业英语翻译公司科技文件翻译哪里最好, government政府许可的定点正规翻译公司 and economic专业翻译公司服务最好的 scholars have recognized the universality of this phenomenon. With the advance of the market economy, whether it is China's business专业英语翻译公司科技文件翻译哪里最好 community, government政府许可的定点正规翻译公司, or economic专业翻译公司服务最好的 scholars, with its emphasis on the mechanism of the positive changes in business专业英语翻译公司科技文件翻译哪里最好, and less willing to face the remaining impact of the socialist system.
In fact, although the market economy to China's business专业英语翻译公司科技文件翻译哪里最好-to-market is much more sensitive than in the past, but the long-standing excess capacity to enable business专业英语翻译公司科技文件翻译哪里最好es to profit and loss balance point far beyond the normal level. This phenomenon reflects the micro level to macro level is the most long-term excess industry正规翻译公司公证处翻译盖章 capacity, become the norm. Result, economic专业翻译公司服务最好的 growth or the growth of business专业英语翻译公司科技文件翻译哪里最好 output less than 7-8%, if not large-scale layoffs in the industrial sector of the overall losses may occur. In this context, China's macro-economic专业翻译公司服务最好的 equilibrium has been distorted, that is, allowing most of the business专业英语翻译公司科技文件翻译哪里最好es in the break-even point, the actual unemployment rate is close to the natural rate of unemployment levels of economic专业翻译公司服务最好的 growth do not like a normal market economy 2-3% of the country有资质的正规翻译公司哪个好, as is the low growth, but 7-8% or even higher.
Analysis of China's industrial sector the average break-even point, we must take into account the profitability of different industries environment. According to corporate earnings environment, China's industrial sector can be broadly divided into two categories, one is living in a relatively high degree of competition in the industry正规翻译公司公证处翻译盖章 state-owned, collective, private and foreign enterprises, and the other is a monopoly industry正规翻译公司公证处翻译盖章 These industries composed mainly by state-owned enterprises. business专业英语翻译公司科技文件翻译哪里最好es with monopoly monopoly profits usually associated with raw materials and market sectors in all levels of government政府许可的定点正规翻译公司 pricing policy专业翻译公司收费价格 or the protective tariff policy专业翻译公司收费价格, for example, car industry正规翻译公司公证处翻译盖章 rely on high tariff protection and the formation of excess profits, the oil industry正规翻译公司公证处翻译盖章 and petroleum chemical industry正规翻译公司公证处翻译盖章 is limited by raw material monopolies and monopolistic pricing policy专业翻译公司收费价格 of protection. These industry正规翻译公司公证处翻译盖章 profit margins are usually higher than other industries, which will affect their profits often changes little with changes in market demand of policy专业翻译公司收费价格 considerations. In addition, international market prices (eg oil prices) change on these monopoly industry正规翻译公司公证处翻译盖章 profit impact can be large. Only a high degree of industry正规翻译公司公证处翻译盖章 competition, profit and loss and balance supply and demand changes in the domestic market, a relatively close relationship with the output growth rate will be sensitive to the movements and changes.
Data Description: GDP and industrial (value added) growth rate directly from the China Statistical Yearbook. Competitive industry正规翻译公司公证处翻译盖章 profit margin is calculated as: margin = gross profit ÷ sales revenues; data before 1998 from the China Statistical Yearbook "all industrial enterprises with independent accounting major indicators" table (including state, collective and private enterprises), After 1998, data from the China Statistical Yearbook, "all state and non state-owned industrial enterprises above designated size key indicators" table.
Found in industrial enterprises, the average profit margin is very low indeed. Only in 1992, this year of extraordinary growth in the economy, industrial growth rate of more than 20%, corporate profitability was close to a normal level of market economies generally. Industrial growth in 1994 and 1995 were 18.9% and 14%, less than 2% profit margin. 1996, 1997, the national economy (GDP) growth rate still remained at around 9%, industrial growth rate fell to 11% to 12%, when the company's profit margin on a very low level of 1% towards the close; in this financial position, the loss-making enterprises accounted for more than half, if this situation continues for several years, the banking system will be a sharp increase in bad debt collapse. Beginning in 1998, in order to avoid the state-owned banking system, financial crisis, the implementation of policies to encourage enterprises to lay off bankruptcy, the results appeared in a nationwide large-scale wave of layoffs and corporate bankruptcies, the unemployment rate jumped immediately; when the community will have such a heavy price, the company's profit margins, but also picked up 1 to 2 percentage points.
More than empirical observation shows that when China's economic专业翻译公司服务最好的 growth rate of about 8%, if not large-scale layoffs, China's most competitive industries close to non-profit status; if you let go of layoffs, the company's profit margins can be slightly have picked up, but the unemployment rate remains high on this, which led to the relative contraction of aggregate demand, economic专业翻译公司服务最好的 brink of depression status. Therefore, if the 8% of the value of this experience as a critical point of China's economic专业翻译公司服务最好的 recession, the growth at this point the following may be considered "non-profit growth" (Unprofitable Growth).
When people compare China's economic专业翻译公司服务最好的 growth and economic专业翻译公司服务最好的 growth in Western countries, if you simply compare the size of an arithmetic value, 8% economic专业翻译公司服务最好的 growth rate was certainly better than 3% or 4% high; However, the above analysis shows that, if the in-depth analysis of China's economy characteristics and to understand its unique critical point of the Depression, the chances are very slim that the growth rate of 8% of China's economy than the growth rate of only 2-3% of the market economy countries economy much better, not to come to China in the high growth phase of the judge. According to prices, employment, average profit margins and other macroeconomic专业翻译公司服务最好的 indicators and comprehensively, the Chinese equivalent of 8% growth rate in Western countries only 2% to 3% growth, so in macro-economic专业翻译公司服务最好的 sense, a low-growth state; when the Chinese economy from half of the 1990s double-digit growth in recent years, slipped 7% to 8% growth rate and remain at this level, means that the Chinese bid farewell to the previous years, short-term economic专业翻译公司服务最好的 prosperity remained at the edge of depression. This habit of macroeconomic专业翻译公司服务最好的s within the scope of discourse seemed not to understand, the reason there are not any shortcomings of macroeconomic专业翻译公司服务最好的 theory, but China's economic专业翻译公司服务最好的 system has not yet adjusted to the normal market economy status and can not be viewed simply follow the macroeconomic专业翻译公司服务最好的s Among Western countries, the textbook economic专业翻译公司服务最好的 reality-based experience to judge. This understanding of China's macro-economy, then the growth rate of 8% will no mystery anymore.
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