According to purchasing power parity in China should surpass the United States to become the world

AFP / Scanpix
China's Communist Party leaders to fulfill promises a revolution in the world's second largest economy, and looking for a different path than to be the "world factory", but economists smoothie maker note that the implementation of such a huge ambitions would be major obstacles.
Outgoing Chinese President Hu Jintao (Hu Jintao) said that the country's smoothie maker gross domestic product (GDP) over the next decade will double smoothie maker as well as the promised "economic growth pattern transformation" of its report within the five-yearly Communist Party Congress.
Although the sale of cheap goods produced in Western smoothie maker countries and billions of dollars in investment in infrastructure development in recent years, the economy has created a miracle, it is believed that this model can not work in the long term, while China's economic growth is already slowing down.
"We need to accelerate smoothie maker the development of a new growth model and ensure that development is based on improved quality and performance," - said Hu, adding that China will become an innovative technology giant, causing the production of cheap elsewhere.
However, the country also has to make use of the internal one of the pillars smoothie maker of its economy, said in February of the framework of government and the World Bank report. The plan is supported by Vice President Xi Jinping (Dzinpingas Si), which this week to replace Hu Jintao, smoothie maker leader of the party post.
On the other hand, such changes can lead to massive job losses that could provoke unrest, fears of a ruling party. Meanwhile, the training of unskilled workers in China to compete with Western economies are enormous smoothie maker challenges.
However, smoothie maker there is economic prosperity remains firmly dependent on cheap labor, low exchange rate and artificially maintained low interest, Peking University finance professor Michael Pettisas told AFP.
"China will remain the manufacturing plant, but a large part of the unskilled production moved to lower wage countries in Asia, but also probably in Latin America and Africa," - said the intelligence center Evian Group Director Jean-Pierre Lehmann.
China's new economy can mean a reduction in investment projects, which was a priority for the government in recent smoothie maker years - such as airports, smoothie maker highways and high-speed rail construction.
Chief Economic Planning Officer Zhang Ping (Ping Dzango) last weekend announced that domestic consumption in the first nine months of this year amounted to more than the GDP growth of the investment.
However, consumption will grow faster to compensate for any slowdown in investment projects. Meanwhile, China's limited social safety nets means that about half of the households income save for a rainy day or children's education at universities, which significantly limits its consumption spending.
Beijing says: "We do not want to be the world capital of toys for Christmas - happy that the low-skilled, smoothie maker low value-added smoothie maker and poorly paid jobs moving to other countries," - said the Shanghai-based financial services provider "CLSA Asia-Pacific Markets in China Economic expert Andy Rothmans.
But it will not just losers, but winning, expert remarked: "It's really good for the more developed economies, such as Germany and the United States, which is more sophisticated, more advanced machinery factory in China."
Beginning of the reform can be "quite painful and cause a short-term increase in unemployment, even if the long-term benefits will be significant," said Hong Kong consulting company Silk Road Associates, Executive Director Ben Simpfendorferis. But he added that imports from other countries smoothie maker should be increased.
If China is able to implement Hu Jintao promises about half of the population (about 700 million. Persons) by the year 2020 continues to be the middle smoothie maker class, and its annual revenue will reach 7-23 thousand. dollars, said the advisory center for Boston Consulting Group report.
According to purchasing power parity in China should surpass the United States to become the world's largest economy is already in 2016, last Friday for Economic Co-operation and Development smoothie maker (OECD).
Comment Comment anonymously online (11)
October 2014. 2 days. 14:15
On Saturday, the Japanese traveler embarking on an urgent Ontakės the mountain to escape the massive volcanic ash ball, filmed smoothie maker by a volcanic eruption. smoothie maker Terutoshi Kuroda papsakojo that he was close to the top, a height of 2800 m above sea level where the local time is 11:45, and with him were the travelers noticed over the consequent massive ash cloud. T. Kuroda and his companions rushed to descend down to the nearest mountain hut, which, thankfully, was pretty close. Although desperate hurry, T. Kuroda was able to film the eruption of their smart phone.
Information What is D