OECD: China poised to become the largest producer of manufactured goods in the next few years

Xinhua Beijing, February 2, according to the Organization for Economic Cooperation and Development (OECD) 2nd published in the "China Economic Survey Report" (2010), China in the next 5-7 years will overtake the United States as the world's largest manufacturers of manufactured goods.　　In this regard, Chinese scholars believe that the Chinese economy should not only look at the total amount, but also to see China's huge population and other basic conditions. Pierre Padoan, Deputy Secretary-General of the Organisation for Economic Cooperation and Development, said at a news conference that China is leading the way out of the recession in the global economy, backed by a huge government stimulus package.　　China is expected to overtake the US as the world's largest producer of manufactured goods in 5-7 years.　　In response, at the invitation of the Organization for Economic Cooperation and Development, commenting on the report, Zhigang, chief economist of China International Economic Exchange Center, said that to get a correct and comprehensive understanding of China, we should not only look at the total amount of China's economy, but also look at the average per capita level and see China's national conditions: China is a developing country with 1.3 billion people. Prior to that, the domestic and foreign media widely reported that the 2009 China's gross domestic product and import and export volume in the world's top situation.　　But experts believe that, per capita, China's ranking in the world is significantly behind, ranking only more than 100.　　This 232-page survey report, in 8 chapters, reviews the achievements of our country over the past 5 years, future economic development prospects and challenges; the paper expounds the monetary policy and financial system reform, commodity market regulation and competition, regional coordinated development, labor market reform, endowment problem and perfect medical and health system. The report argues that despite recent reforms in the Chinese government, there has been growing concern about maintaining harmony.　　To improve people's livelihood, China still needs to increase social spending.　　The report, while highly evaluating China's economic and social achievements, has also put forward a series of policy recommendations, including further monetary and financial reforms and timely strengthening of the exchange rate flexibility of the renminbi.　　Padoan in an interview with Xinhua news agency, said that the increase in the exchange rate flexibility is not overnight can be completed, should be a medium-term goal, but also need to carry out the relevant financial sector reform. Zhigang that China's preservation of the renminbi's basic stability is not only conducive to China's economic stability, but also to the stability of the world economy. During the 1997 Asian financial crisis, China kept the renminbi stable and was praised by the world.　　After the outbreak of the world financial crisis, some Westerners to China to maintain the stability of the renminbi, demand the appreciation of the renminbi, with obvious utilitarian. The OECD is made up of 30 countries, the main members of the developed countries in Europe and the United States, there have been "rich country Club", including the U.S., Japan, Germany, France, Italy, Britain, Canada and other industrialized countries, Australia, New Zealand, Turkey and Mexico.