China economy transition

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China economy transition

Post by Admin on Mon Sep 15, 2014 4:11 pm

China is currently at the crossroad of transitioning from a low-cost manufacturing mecca to an innovation-based, high margin economy.  What challenges and opportunities await the world's second largest economy in this transition? Question

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Great transition need our efforts!

Post by GB-Bao Xuejing on Tue Sep 16, 2014 12:29 pm

According to “The Global Competitiveness Index 2014-2015 rankings” of the latest World Economic Forum, China mainland has moved up one rank to 28th place than one year earlier.

It’s glad to witness this “low to high” transition which obviously is attributable to the peaceful and stable economic environment of the last decades and some other important reasons.

About the opportunities, first of all, I believe this transition will be good news for China’s environment, advanced manufacturing technology and drainage technology will improve the integral level of Chinese manufacturing enterprises. Secondly, the transition will also promote the development of other industries, especially the third industry. Thirdly, policies and government support will give local brands even greater scope. Last but not least, for this transition, China’s education mode will be subtly altered, especially in the aspect of innovation and open mind.

Rose is sweet but has thorns. in my humble opinion, the transition no doubt will impact on the traditional manufacturing industry, HR structure and training system will be rebuild for sure, and it must be a long term challenge. Next, the infrastructure in China nowadays is concerned by the government but still have large gap to many developed countries, the transition cannot be complete without this kind of underlying architecture. Furthermore, even today, many Chinese people’s thinking model is conservative and innovative business models often meet more doubts, especially China has such a big market, for many enterprises, the cost of changing their business models is too high.

Above are some of my humble opinions, expect to learn more from the lesson. Idea  Laughing

2014GB Rebecca Bao (Bao Xuejing)

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Transition is a progressive journey in China

Post by GB-Tang Yu on Fri Sep 19, 2014 6:36 am

I agree with Rebecca about the opportunities in China cheers . We have promising economy as 2nd large in the world, supporting policy is released by government, and innovation in trade model such as Shanghai Free Trade Zone is in progress, much efforts have been done and on going to achieve our "China Dream".

However, transition is a progressive journey and China has many challenges in deed. We are always put in the comparison with developed countries and pursuing the GDP to step up in the world. Number 2 GDP witness the fast development in China but hides the foam in such fast way. Currently, most Chinese companies in World Fortune list came from petro, bank, utility and others which government related, even transition will provide some opportunities to emerging industries, macro-control is still the leading policy here. Nowadays, China is losing the advantage of low labor cost which makes the transition a little passive and urgency to seek benefit from new models.

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Take the Challenge and Create Opportunities

Post by GB-Li Ling on Fri Sep 19, 2014 7:54 pm

I believe most of us are aware that China is now in the transition period and some of us have become accepted  the fact that China has to and is now transitioning from low-cost manufacturing mecca to an innovation-based, high margin economy. I would prefer to interpret this topic as China should take this challenge and create opportunities by ourselves.

What has changed and what remains same worldwidely when we take this challenge ? High technology develope faster and innovation is much more important than ever before, but seeking high margine and ultimate value is always the goal of economy development. China now is lossing the low cost advantange but we also gain new chances of development. To build up high qualified resource including human resources and environment so China would seek sustainable economic growth.

Firstly is to cultivate talent. China has the biggest population in the world. There still have the requirement for low cost and manufactuirng mecca in the economy, while we could seek to develope more talent with profession and expertise not only for techonology but also for process improvement like most of multinational companies is now driving Lean/Six Sigma project with high potential personnel and encourage think out of box. China should create opportunity by cultivating appropriate talent for different level of jobs so that we could meet variours market demand.

Secondly is to improve the enveniroment. China has the second largest land area.Take infrustration construction for example, we do see more and more cities , towns and counties in China now have been connected by highway which bring in more efficient logisitics so that we could gain more investments in larger populous areas. In the other hand, we pay more attention to enveniroment protect in the indrustrial developement and shoud continue to maintain enveniroment suitable for living and production.

So to be more pro-active, challenge could bring chances and we could take use of the advantages to create opportunities by ourselves.
sunny Let's listen, learn and discuss further! Idea

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Embrace the Future

Post by Fendy on Mon Sep 22, 2014 5:53 pm

2014 GB 高菲 Fendy

Although we all noticed the necessary to make a change to an innovative, high margin economy, not many big steps move forward yet.
Since there are so many tough issues we are facing during this critical period, I only select 1 point to elaborate, meanwhile share some of my own observation from actual working experience.

As for the challenge, it comes from the globalization. With the further more open up of the trading and economic environment, more and more excellent brands flock into our market, or our customers are easy to get access to their desirable commodity through internet—even overseas internet through convenient on-line payment. Many of the foreign brands are with better design, superior quality, customer experience…., etc. And after global sourcing and localization, they successfully catch our customers’ preference. So how we can seize our market share, our battle field with our own brands will be a significant challenge we must face.

As a coin has its two faces, globalization also brings opportunities in this crucial transition. Economic open-up and globalization bring more financial, resources, superior technology and managerial concept to us. Globalization will create more exposure to developing brands with innovative ideas or technology and will bring them more customers. The most important, globalization teaches the lesson that if you want to survive, you must go with the wave--- to be innovative and move on, and never stay still.

I work in the apparel industry, which is a typical low-margin industry for China. For the several US and Europe based company I worked in, they are all taking advantage of China’s various resources in the past few years. As the urbanization and labor cost higher in China, some companies move out of China, some companies move some of their major sourcing target to India or Vietnam, whose labor is even lower than China. All the factory owners are busy with seeking orders and then manufacture. Very few of them would take the risk to develop their own brands. Thus when those foreign buying offices left, only some production line and poor workers left for us. For all these years, I witnessed the hardship of this industry, to elevate our technical levels and go Branding is a must-to-go way to survive for China.

Here is some of my humble opinion, a lot more to think and discuss further. drunken  sunny



Last edited by Fendy on Tue Oct 28, 2014 3:44 pm; edited 1 time in total

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Re: China economy transition

Post by HONG Na on Tue Sep 23, 2014 7:00 pm

Many thanks for your input.

No one can deny thant China economy transition from low to high profit margin is an increasing hot topic among the general public. As far as I am concerned, there is a wide variety of voices on challenges and opportunities.

When it comes to the challenges, two key points should be taken to consideration as follows.  

For one thing, as a HR, talent plays a critical role in successfully achieving objectives and obtaining a competitive advantage in any organization. Hence, we usually value our employees as one of the most important and value-added assets. To keep pace with globalization and meet demand in such a fast changing environment, what we wanted is creative and aggressive talents equipped the related knowledge/skills and overseas exposure rather than middle level managers or well-trained technical workers.

For another, China has been in high growth for over 30 years and overtaken Japan as the world's second largest economy, just next to America. However, the rapid growth is inevitably accompanied by high resource commitment and pollution discharge. Hence, our traditional economic growth pattern is unsustainable due to ecological degradation and environmental pollution.

Opportunities come along with challenges.

First of all, it is an excellent time for rebranding. Made in China is no longer a representative of low-cost and low-price production. Later, you would be impressed by the most hi-tech products are well designed and developed in China. Core competence is always attributed to creative design and self-developed technology.

In addition, more and more Chinese companies takes initiatives to participate in international competition and cooperation, especially in emerging markets. Nowadays, Huawei and Lenovo are expanding their services and products into every corner of the world.

Let’s get well prepared extraordinary challenges ahead and seize greater opportunities.

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Re: China economy transition

Post by 2014GBPuYang on Wed Sep 24, 2014 6:26 pm

We,in Ali's class last week,have listed lot of "top" issues that are the big obstcals on the China economy's development road.
To support the possibility of China economy's long-term lasting, in my opinion, the top one is the environment. Air,water,land are

the basic elements that sustain we, human beings, survive on the earth(of course including China). However, even the low margin

economy of China rely on over using our limited resources which has deeply destoried our living environment. Without the living base,

it is no meaning to discuss about the economy at all. Surely the current extensive economy mode can not be lasted for long.
The next are the resources. Oil,coal,gas,rees (foods, I regards foods as one of the most important resources) which always cause the conflicts between countries, are also the roots for any countries's(as well as China) running and development.You can not image how economy can be developed without sufficient resources.

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Re: China economy transition

Post by 2014GBPuYang on Wed Sep 24, 2014 6:47 pm

So on the current cross road of next step of big China, we'd better to consolidate our "basic root" from now on.But the problems are not formed by short period.
But they are caused by the ecomnomic structure, the pursuit of profit in short eyes, the social concious etc.Surely the goverment can take the most important role, to improve it. For examples, to set laws for exhasting, to set policy for economy structure adjustment, to set the guide to encourage producing crops. If possible, we'd better to find chance of more resource route through stretedgy alliance with global countries. ( You know ...... Laughing )

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China is in the midst of a powerful and sustained economic expansion, with no end in sight.

Post by Zhang Wenzan --Zane on Thu Sep 25, 2014 5:20 am

China has a complex domestic reform agenda ahead if it is to shift to a more sustainable growth model and transition from a low-cost manufacturing mecca to an innovation-based. It will need to manage the contradiction between market and command elements of the economy, and overcome conflicting interests. Moreover, the favourable conditions that allowed China to yield large gains from 'opening-up' appear to be diminishing. In particular, the outlook for the external environment remains highly uncertain, and with domestic wages on the rise, and growing competition from low cost producers elsewhere, China can no longer depend on exports to the extent it has become accustomed to.
 
Despite the challenges, many factors contribute to a positive business environment in China. The fast development of internet and software techniques brings us a new wave of technology revolution. The gap of new technology between China and West is not that large and China can move up the value chain into service and IT businesses. For instance, Alibaba, Baidu and Tencent have been spectacularly successful.  In additional, a huge population and regional differences created a rich social diversity and market. While previously growth came from exports, now domestic growth is the main driver, with exports playing a less significant role.

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This is all about people!

Post by Lin Jue-Celina on Sat Sep 27, 2014 5:40 am

Just as Clara mentioned that talent plays an important role in this transition.I also believe that people has always been the fundamental of a country, the major change is always led by the people who lives in it and who ask for it and who fight for it.

The major challenge our society is facing would be the lack of young workforce due to the aging population. The main driver in an economy is always among the 30-50 year olds as they are the most energetic and matured workforce,but this group is shrinking.Meanwhile,within this major working force,just like most of us,the single child in the family,are having more pressure than previous generations on taking care of kids and parents. We foresee this is going to be a difficult time for people and for this country.

The other challenge is the need for more innovators with not only global vision but also strong local adaptivity.The world battle field has changed from information base into innovation base.This requires not only thinking out of the box but also good adaptability of the accelerating local and global trend.

As the people challenge is rising, there are also opportunities to change. The future of the country lies in the education. To embrace the creativity booming, the real innovation education should start from kindergarten or even before that. Not only should we give more freedom to our kids, also should we educate our young parents.

The other major transformation required lies in the national university entrance exam. For most of us,the nightmare starts as early as elementary school, children train their brain via all sorts of mathematics olympics and competitions. Meanwhile, in our educational system,there is less emphasis on liberal arts. That is also why our country lack of musicians, artists and innovators. Luckily in today's education we begin to talk more and more on innovation and hope this is going to be the starting point of the innovation journey! I am grateful to meet each one of you and let us be the disrupters of this age! cheers cheers cheers

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Re: China economy transition

Post by PENG, YAJUAN on Sun Sep 28, 2014 1:50 pm

It's really a big topic, and I don't think I have the wisdom or judgment to make any comments on it,and I don't think we can discuss Economy transition alone in China, not to mention that we all have vague idea to define the "transition" in real sense and how long it will last considering our limited experience and access to information.

Obviously, we're undergoing the transition.  The new government took the "Fox Hunt 2014" action, which strengthened the leadership's resolution in anti-bribery campaign after the arrest of Bo Xilai and Zhou Yongkang and other high-rank official involved in a certain network. Meanwhile, the government stipulated relevant regulations to facilitate and boost the economic reform. We noticed the once high-fevered property market is being cooled down, the government declared a lower GDP growth is acceptable, and the leadership mulled over the reform of SOEs and the liberalization of certain business sectors and etc.

However, not everyone are happy with such transition, I bet. For example, we want the housing price is affordable (cheaper), but we don't want our existing properties being depreciated. We want a clean government, however, the anti-bribery campaign makes us more worried about the future of the leadership and the nation. We want to witness a bull market, while we understand few of companies is really sound and visionary. Even though there are some good companies, they are listed in HK or U.S.

In short, we hope the transition can lead to some changes, but we are more concerned about the outcomes brought about thereof.

Out of question, such transitions have influence on each other. Over past 10-20 years, China's development is abnormally rapid, at the cost of ever-decreasing morality, social responsibility and the environment.

In my view, we'd better scale down the topic and discuss it in a more practical or accessible way, that's, are you ready for the transition, in particular the unsatisfactory results from the transition? Can you afford it? I think, these are the challenges for each and every citizen.

By the way, I found it very interesting that my friends from law firm are quite negative about the transition, whereas those from financial sectors are quite positive.

As for me, I would say," We'll see!".Laughing

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It's all about People, totally agree

Post by Wang Tong 14GB on Fri Oct 10, 2014 11:35 am

I totally agree with Celina,It's all about people!
The biggest challenge--the fundamental problem for us is still education. Since 6 years old, we are taught to find "the right answer". We Chinese are very good at imitating the example of teachers. People educated like this could be qualified workforce in low-cost manufacturing society: we get the instruction book, learn how to get an automobile part reproduced accordingly, and "Bang!", work done.

But innovation and creativity means there's no model at all.There are a lot of answers and possibilities to one question, and sometimes there's even no question exist that we have to creat them by ourselves. To raise right questions is the key ability in an innovation-based economy.To implant this spirit into our education system is the the fundamental accelerator for the transition of China.

The bright side is that, once we conquer the above challenge, base on the population, the long history and rich culture, we might show world-shaking creative power to others.






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Re: China economy transition

Post by zhouxm 周晓敏 on Sat Oct 11, 2014 9:51 am

It doesn't matter we like it or not that the we are undergoing this transition nowaday. The history always repeats itself in an amazing way. Some organinzation will benefit from transformation, some of them will be challenged heavilly. Today's success doesn't mean inevitable success in the future. But no one can clearly answer how the way will undergo for China.

From my point of view on industry, i think manufacturing industry is still domain industry for China and its success of innovation will foster china ecocmony transition and social stablility. With serveral years' transformation, China manufacturing industry faces multiple challenges to maintain its momentum. The PMI for manufacturing is continuously kept in low level. However, Good signal for global manufacturing is America is devleoping an incentive plan in manufacutring industry to retrieve its economice growth and decrease rate of unemployment. Some American companies come back to America with their invesment and technology withdrawn from China. Serveral reasons can explain it such as low production efficiency, rising cost of rural materials and labor...so we have to do transformation from a low-cost manufacturing mecca to innovation-based, high margin economy. One approaching way is to develop our brand-owned products and increase our competency in global. Looking on industry development especially on auto,machinery, aviation and defence and high-tech, more and more companies are doing tansformation.

Anyway, I think the DNA of china will decide we will survive in the transition and win the future although we will meet difficulties and challenges we ever met.

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Re: China economy transition

Post by Chen Yonglei on Sun Oct 12, 2014 6:22 pm

Opportunities: lol! lol! lol!
1. New-tech, new proucts and new business mode will create and folurish more relative industries, boom China's economy rapidly and bring in new economic structure in China.
2. More job opportunities avalible to increase China's employment rate.
3. Develop rural areas and motainous areas through those innovation projects, products or businesses to achieve development from points to facets.
4. Add China's bargain point during the international trade.
5. Facilitate reform of China's education system to bring up more and more innovative students so that virtuous cycle will always be a health operation.
6. China's GDP growth will remain back to 2-digit growth without the push of the real-estate industry.

Challenges: bounce bounce bounce
1. How China's government will take actions to protect intellectual property? if not doing well, steps to innovation roads will just stop.
2. How China will create a ecosystem to balance the development of low-cost bulk manufacturing and innovation-based businesses? No doubt that China's labour and costs of raw materials are highing up, hence most multinational corporations are withdrawing investments from China, and instead trasfer to ASEAN whcih has much lower costs. As such, we may still consider to keep manufacturing industry booming in China to leverage those innovation industries, but the CHANGE is to place the manufaturing in mountainous areas.
3. How China will improve education system???it's a really harsh and tough question getting in the way ahead.

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Re: China economy transition

Post by Chen Yonglei on Sun Oct 12, 2014 7:06 pm

zhouxm wrote:It doesn't matter we like it or not that the we are undergoing this transition nowaday. The history always repeats itself in an amazing way. Some organinzation will benefit from transformation, some of them will be challenged heavilly. Today's success doesn't mean inevitable success in the future. But no one can clearly answer how the way will undergo for China.

From my point of view on industry, i think manufacturing industry is still domain industry for China and its success of innovation will foster china ecocmony transition and social stablility. With serveral years' transformation, China manufacturing industry faces multiple challenges to maintain its momentum. The PMI for manufacturing is continuously kept in low level. However, Good signal for global manufacturing is America is devleoping an incentive plan in manufacutring industry to retrieve its economice growth and decrease rate of unemployment. Some American companies come back to America with their invesment and technology withdrawn from China. Serveral reasons can explain it such as low production efficiency, rising cost of rural materials and labor...so we have to do transformation from a low-cost manufacturing mecca to innovation-based, high margin economy. One approaching way is to develop our brand-owned products and increase our competency in global. Looking on industry development especially on auto,machinery, aviation and defence and high-tech, more and more companies are doing tansformation.

Anyway, I think the DNA of china will decide we will survive in the transition and win the future although we will meet difficulties and challenges we ever met.


China's manufacturing industry will walk in the EDGE areas. In this transition period, some places will play a role of hub like Shanghai, whose role now is just like Singapore in ASEAN, the logistics and economy center. As for the remote and border areas where have lower costs and labour, manufacturing industry can be there for supporting innovation industries.

Shanghai free trade zone, for example, will attract more foreign investments and those investments meanwhile can be broken down to parts and then to be manufatured. if we do so, China's economy can be well balanced, namely that, developing areas doing manufaturing and developed areas doing logistics and value-added business.

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Re: China economy transition

Post by Summer on Mon Oct 13, 2014 10:00 am

As we all know that, China is currently on the crossroad of its economy structure. Low-cost manufacturing did sustain a high-speed development of China’s economy in decades, but this economy strategy doesn’t work nowadays or future. Transition to innovation-based high margin structure is necessary.
And China is embracing the opportunities. Firstly, this transition can bring us a healthy economic structure, which can sustain China’s economy in long-lasting development with high margin, even in financial crisis. Secondly, local enterprises can make their brands well-known in world trades, this can improve China’s impacts in international economics and politics.
There are also some challenges to the economy transition. Firstly, lack a great number of creative talents who can bring the innovation of technology and products. Secondly, legal system in China is not sound enough to assort this innovation-based economy, especially for intellectual protection of technology innovation.

Hope China can make a success in this economy transition. Very Happy

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Re: China economy transition

Post by Liao Xin-Kenny on Thu Oct 16, 2014 2:34 pm

The farmers and rural issues remain the large obstacle of China economy transformation. It has always been the fundamental issues of China's development, so we should adhere to market-oriented reforms. The key problem is the transfer of rural labor force to urban areas, and it is dependent on labor market needs. This means that China needs to maintain a high level economic growth to create enough jobs.
Therefore, there must be a lot of labor-intensive enterprises in China in the next decade. Accordingly, the government's investment planning and related financial support should be to promote the development of such enterprises. It requires amount of capital investment in labor-intensive enterprises, especially in small and medium enterprises. Then it will provide more jobs. In the long run, it also provides more space for economic development, and gradually eliminate the bottleneck of insufficient consumption. In addition, the corresponding mechanisms related to social security should also improve with urbanization.

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Re: China economy transition

Post by Zhang Yiying on Sat Oct 18, 2014 10:16 am

As many have mentioned, the talents are crucial in this topic. However, the education system in China is not inspiring creativity, and sadly this system won’t change in a short term due to quite a few national conditions in China. To nurture creative people in a root system like Finland or Israel, it might take several generations. But the structural imbalance of labor supply and demand is a pressing problem in China. To introduce creative technologic and management people is of high priority.
In the current situation, the government plays an important role in helping the transition for the producers in China. To attract innovative talents to China, the government should encourage good companies in China to step on the global stage to attract more international talents and bring in creativity from all over the world. It is also right that the government is now issuing policies such as tax incentives to encourage innovation and expedite the transition of the domestic companies. Gradually, the survival of the fittest will live on after this national transition.
This is a painstaking period for China, but in the long run China will step on a higher level in the global stage, which makes every Chinese proud.

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Re: China economy transition

Post by GB-Xu Weixin on Sat Oct 18, 2014 7:56 pm

Three decades ago, China embarked on a new path with the opening-up and reform policy that has transformed the nation and led to the country’s rapid economic rise.

Now China is now at a crossroads because many of the elements that drove the economic miracle are turning into constraints. The country’s leadership faces another set of choices as they strive to balance social, economic and environmental challenges.

The country must adjust its export-led growth model at a time when global trade protectionism is rising and intensive investment in manufacturing and other industries are hurting domestic environment.

Meanwhile, the country’s export competitiveness has been undermined by the appreciation of the RMB and substantial cost increases, in particularly in labor—the root cause, according to some economists, that is behind the slowing export growth.

To address this challenge, the government has vowed to create more jobs in the service sector so that a bigger population can contribute to keep economic growth on a relatively fast track.

China is also facing increasing constraints from resources and environment as the rapid growth achieved over the past 30 years came at a high price for energy, resources and the environment. China is already the world’s largest energy consumer and carbon emitter, and also the biggest user of many commodities from iron ore to aluminium. This situation has forced China to rely on foreign supplies for many of its commodities demand.

In these circumstances, it’s unlikely for China to maintain its resource and energy-intensive growth model over the next decades, and the government has to shift to a new model that’s focused on quality instead of quantity.

As China’s grows, top leaders also must address the prevailing social inequality and regional disparities, both of which have become major challenges for the government.

China has taken actions by announcing plans ranging from the restructuring of its mass state-owned enterprises, financial liberalization to the expansion of property taxes and pricing reforms on utilities.

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Re: China economy transition

Post by Qian Jianming - Richard on Tue Oct 21, 2014 9:22 am

My classmates' ideas all well hit the point and most of my opinions are covered. I totally agree with the view that talent is the core issue by Celina, Wang tong, etc.
On the other hand, I have some arguments about the topic itself posted by Admin:
Firstly, I don't fully agree with the word "crossroad" mentioned by Admin. Crossroad, according to my understanding, is a junction, which indicates we have more than two choices. However, the transition from low-cost manufacturing Mecca to an innovation-based, high margin economy just shows one way.
And then, the word “low-cost manufacturing” is also inappropriate. Low-cost also can make high margin.
Therefore, I think the reasonable wording may be “China is currently at the turning/key point of transitioning from labor-intensive, low margin country to innovation-based, high profit economy”.

I think talent is the core problem for this issue. Why China develops labor-intensive industries? Why China cannot be the high profit economy? Because our human resource cannot meet the requirement of being the high profit economy. China just can depend on the quantity of human resource rather than the quality of human resource. Therefore, to achieve this transfermation, China should improve the quality of its human resource, cultivating talented people to support industrial upgrade and then to become a high profit economy.
To achieve this goal, we still have a long way to go. Not only investment on reseach and facilities, but also advanced education concept need to build up. We should encourage students to think creatively, give more open questions instead of ones with exact answer, and tell them there is no absolute correct or wrong things. We should changing people's thinking model to develop more innovations.


Last edited by Qian Jianming - Richard on Mon Nov 10, 2014 4:19 pm; edited 1 time in total

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If China's economic transformation failed

Post by LI GANG on Wed Oct 22, 2014 11:39 am

After seeing the above discussion, I found that the students are very optimistic to the future of the Chinese economy. But I think the economic transformation is not easy to finish.

When we talk about the economic transformation, we should first discuss the political reform. There may be some sensitive to talk about politics in China. But politics and economy cannot be separated. Before Discussion reform, I would like to review the history. There are four big reforms in Chinese history.

Three of those times proved failure, at another time in the modern, success or failure are not sure.
Let's analyze it:

1. Shang yang's political reform
To determine the state of Qin in the economic sphere, failure in Political sphere. Shang Yang has been chopped.

2. The political reformation of Wang An-shi
Turn the economic deficit of song dynasty, after the death of Wang anshi partisan divisions.

3. Zhang juzheng’s reform
Ming dynasty reach peak in the economic sphere, after the death of Zhang juzheng was whipping corpse

4. The reform and opening-up policy
Let China economy ranked second in the world in the economic sphere, Don't comment on politics.

The several times reform shows that failed to reform’s opportunity is bigger than success. Although the short-term can promote national economic strength, the long term but hurt the country. Some people say the need for reform. Without reform is more dangerous now. I agree with this view. Now let's take a look at the development of China's economic difficulty.

1. decline of young adults in population decline
China won't have so many young adults in the future. Because of the cost of raising children is higher and higher. The developed urban population will be negative growth. Lost a lot of young labor, China's economic power will be a recession. An aging population will also increase the economic pressure of youth. That is why countries introduce two-child policy.

2. Rich people run away quickly
Due to the lost of security, China's first and the second generation of rich people run away from China. They have taken a lot of wealth. Their behavior is not punished by Chinese law. Their companies monopolize a lot of business area.

3. Increased environmental pollution
A researcher said China's environment has been sacrificed to achieve rapid economic growth. Urban residents have no fresh air, water and food. We should Will take more to make up for the lost. Environmental governance will be a big problem

4. Happiness is falling
If you lived in China, you will feel busy and tired. You want earn more money, you lost your happiness. More and more patients are with depression. People do not know how to make them happy. Social class has solidified. Young people are hard to get ahead. The gap between rich and poor is also above the stage.

Many people now realized these problems. They want to change. So you can see the good side in the other students’ reply.




LI GANG

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Re: China economy transition

Post by PENG, YAJUAN on Wed Oct 22, 2014 11:57 am

I agree with Li, and I do not hold an optimistic view on it as well. As I said, prior to these challenges, emphasis should be laid on whether the leadership and the citizens are ready for the reform, especially the downside outcomes of it, since there is too much uncertainties, let alone China is a country of too much complexities and conflicts on-the-turn. Each step should be taken carefully.

PENG, YAJUAN

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Re: China economy transition

Post by Chen Yonglei on Wed Oct 22, 2014 12:30 pm

I partly get along with Li Gang, actually each dynasty is a successful reform of politics. The world is as always making progress in variety of aspects, certainly including economy.

In very early of China, even the world, our economy system is "Barter business", people exchange goods with each other. For some skilled people such as artisan, engraver and carpenter, they can made pretty useful tools for citizens, so they can earn much more money. In this period, we made goods individually and have very limited sources.

Later and later, now we are in bulk manufacturing age, automatical and advanced machines are running China's economy.

So my point is that no matter what dynasty, the world is changing and making progress from generation to generation. And the pros and cons of today's economy are listed in my previous page.

Chen Yonglei

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Re: China economy transition

Post by HONG Na on Fri Oct 24, 2014 9:30 am

First of all, I would like to say that I really like the topic rephrased by Qian Jianming.
Second, many thanks for XU Weixin’s deeper and thoughtful inputs from the perspective of a newspaper journalist.
Third, I cannot agree with Zhang Yiying anymore. Our education system undoubtedly kills our creativity, such as you have to follow strictly teachers’ instructions. Unfortunately I was originally a left-handed girl and not allowed to use your left hand to write. How can we be creative and innovate if our brain has been trained mechanically? Creativity and innovation is rooted education since your childhood. I firmly believe education should take initiative to create an open environment to encourage more and more young generations to find more than one way to solve problems rather than the one taught by teachers.

HONG Na

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Re: China economy transition

Post by Lin Jue-Celina on Sat Oct 25, 2014 9:38 am

Hong Na you should really keep your left handed skills! Very Happy The elementary education we had is all about following different rules. I still remember my favorite class is painting as usually we don't have too many restrictions on that.
Normally creativity comes out from open environment. In the past,China didn't have the luxury to provide open environment and had to maximize limited education resource by set up the college entrance exam. Most of us are kidnapped by this. I am expecting more improvement on this policy change and we can embrace more freedom in education.

Lin Jue-Celina

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Re: China economy transition

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