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美国经济咨商会的研究报告表明，中国未来十年的经济将出现经济增长率急剧下降的现象。
2014到2019年这5年，平均年增长率将会是5.5%。
2020到2025年这5年，平均年增长率将会是3.9%。
Press Release / News
China’s Long Soft Fall
20 October, 2014
After a generation of unprecedented economic growth, China faces a deep structural slowdown and broad uncertainty in the decade ahead, according to a new series of reports from The Conference Board. While Chinese leaders have publicly forecast a “soft landing” to the range of 7 to 8 percent annual growth, The Long Soft Fall in Chinese Growth, published today by The Conference Board, projects a more rapid and significant transition that will downshift China closer to 4 percent growth after 2020.
“China’s remarkable success, over the last 15 years, in particular, was built on a historically unique development model,” said David Hoffman, Vice President and Managing Director of The Conference Board China Center for Economics and Business, and a co-author of the report. “But the hallmarks of this approach — substantial state direction of capital and growth-fixated monetary policy — also generated deep-seated risks and imbalances. The course of China’s growth has always harbored the potential for deceleration at least as rapid as its acceleration. We are beginning to see the signs of this transformation take hold.”
The Long Soft Fall in Chinese Growth builds on a large body of work from The Conference Board which has consistently been more cautious on China’s economic outlook than other observers. In addition to the main research report released today, The Conference Board has also published a 75-page white paper laying out the data and analysis behind its projections and a short strategic overview designed for executives of multinational corporations operating in China.
The Upside of Disappointment
Companies planning on sustained 7 to 8 percent growth in China are likely in for a rude awakening. However, the impending slowdown — and government and private-sector responses to it — also contain major opportunities for those ready to seize them. The Long Soft Fall in Chinese Growth explains why the period 2014–9 will see:
A dramatically improved talent environment. Competition will ease for China’s best and brightest, who will increasingly value stability and career development over the rapid turnover of the boom years.
Openings for mergers and acquisitions. As valuations comes to ground and local firms run into difficulties, purchases and partnership opportunities will rise—perhaps balloon—for foreign companies.
Relaxed competitive pressures. Facing shrinking access to capital, Chinese companies are likely to compete more conservatively in order to protect their balance sheets.
More hospitable government dealings. The growing hubris of Chinese officials toward foreign business may reverse sharply in some regions as local leaders pursue more receptive policies to attract needed investment.
Indeed, while it may be fatal to many local enterprises and hugely disruptive for unwary multinationals, the slowdown projected doesn’t imply a crisis poised to reverse a generation of progress.
“Even at 4 percent growth, China still represents a huge and dynamic opportunity,” said Andrew Polk, resident economist at The Conference Board China Center and a co-author of the report. “But China stands at a crossroads: The government and foreign investors alike must be honest in acknowledging the time has come for structural economic adjustment. Transitioning away from the state-driven, credit-fueled boom that has amazed the world, toward a more sustainable, consumption-centric model will be a long and perilous process that causes much near-term pain. Ultimately, China has no other choice.”
For complete details: www.conference-board.org/china-growth/
Report: The Long Soft Fall in Chinese Growth: Business Realities, Risks and Opportunities Research Report R-1563-14-RR)
By David Hoffman and Andrew Polk
In addition to the main report, the full portfolio for this topic includes a Strategic Overview; individual Functional Reports for CEOs, CFOs, and CHROs; and the White Paper, a deep dive into the data behind our findings.
About the Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
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发表于 19-9-2015 02:47 AM
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