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发帖数: 1985 | 1 The World Bank's Growth Recommendations To China Should Make You Laugh
Dean Baker, CEPR
It is striking that the reporters can write about recommendations from the
World Bank or International Monetary Fund to China about sustaining its
growth, without any comment on the irony.
These institutions have been making policy recommendations for six decades
that have often not resulted in much growth at all. In some cases, most
notably the situation of Argentina following its default in 2001, they have
been astoundingly wrong.
Therefore it is impressive that Washington Post can report on a set of
recommendations from the World Bank to China, whose growth has averaged more
than 8 percent annually over the last three decades, without ever noting
this irony.
It is also worth noting that the graphs accompanying this article show that
China's productivity growth is projected to average close to 6 percent
annually over the next two decades.
Many news outlets (including the Post) have argued that China will face a
problem supporting a larger population of retirees as its work force ages.
If this productivity growth projection proves accurate, both China's workers
and retirees will be able to see their standard of living double on the
next two decades, even as the ratio of workers to retirees falls sharply.
Dean Baker is the co-director of the Center for Economic and Policy Research
http://www.businessinsider.com/the-world-banks-advice-to-china- |
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