The International Monetary Fund has warned us that China's economy must shift to be driven by domestic demand! On October 15, according to foreign media reports, the Managing Director of the IMF, Georgieva, stated that China must rebalance its growth model and shift towards domestic demand. The IMF's Chief Economist, Gernot, believes that we have long recommended Chinese authorities to rebalance the economic structure and shift towards sustainable demand-driven growth.
China is still producing a large amount of manufactured goods for export, but the prices of these goods face the risk of falling, indicating that the market's capacity to absorb these products is limited, and it points out that China's export growth engine "is dying down." Gernot claimed that China's economic outlook is "concerning." How do we view this criticism from the IMF? It seems that this criticism is not correct.
For us, of course, we need to boost internal consumption and make internal consumption the new driver of our economic growth. However, this absolutely does not mean that other countries can set trade barriers to create obstacles for our products entering the market. In fact, whether it is maintaining economic growth or increasing residents' income, we should attach equal importance to both domestic and foreign markets, and not put them in opposition to each other.
Furthermore, the IMF experts claimed that China's export growth engine "is dying down" and that China's economic outlook is "concerning," which is completely not true. In September, our exports to the EU, Southeast Asia, and Africa increased by 14%, 15.6%, and 56.4% respectively. Is this "dying down"? The United States does not represent the entire world; our trade and economic relations with Southeast Asia, Latin America, and Africa still have great potential for growth. We indeed face a series of challenges, but pessimism about China has repeatedly been proven wrong. Obviously, we also have confidence in facing our current challenges.
Original: www.toutiao.com/article/1846016545141769/
Statement: This article represents the views of the author.