Steven Cheung: Culture can't keep up with the economy

The figure indicates the economist Zhang Wuchang. (Photo source: Sina Finance and Economics) Mr. Zhang Wuchang, a well-known economist, visited Chengdu yesterday and gave a keynote speech at the 2010 China (Chengdu) headquarters Economic Development Forum. Steven Cheung often talk about the ancient theory in his usual way, from the Chinese economy to Chinese culture and academic development. He said the Chinese economy should take the internal route rather than the domestic demand route to increase the fixed income.　　China is the best place to invest in the world, but culture does not improve, sooner or later the economy will go down. China to increase internal supply rather than domestic demand Zhang Wuchang is not opposed to the 4 trillion bailout plan, because these projects have long been intended to do, but to speed up. However, he believes that China's own market is very large, do not need such as the United States to the consumer, that is desperately to stimulate domestic demand to develop the economy, that way can only achieve transitional income growth. China can achieve fixed income growth by encouraging production to increase internal supply. "Increasing the amount of fixed income must increase wealth." "The Chinese market is a big lunatic. Zhang's humor led to the scene audience hearty laughter, "you want to master Kang in China to sell instant noodles, only a few years, now sell 30 million packs a day, how has so big market?"　　"Their own market is big, foreign trade is not so important." The current international situation is not good, many foreign investors to invest in China, because relatively speaking, China is comparatively safe. A year ago, a large investment organization took tens of billions of of dollars to find Steven Cheung. The two people chatted for one or two hours, Zhang Wuchang finally said: "From the world, China is still the best market." "Culture can't keep up with the economy. Steven Cheung often said that foreign capital to China is not only the money come in so simple, money is small things, but talent. Bring in the knowledge.　　This is important to China. Recently, Steven Cheung often spoke to American colleagues about the ancient culture of human history. Babylon, Egypt, Rome, Greece and China, the first four have declined, but "Chinese culture seems to continue to rise."　　' It's a very strange phenomenon that has never been seen in history, ' he said. He explained that it was because of the decline of Chinese ancient culture that it was not for such a long time. "We went to see the Jinsha Museum, 3,000 years of culture, since the Han Dynasty, through the Tang and Song dynasties, the Yuan Dynasty is a bit of decline, the Ming dynasty again." "" Cultural revival is driven by economic prosperity, if the culture is not able to reach the level of the real pride of the people, the economy is not to hold, this is a law.　　"Huaxi Metropolis Daily reporter Shu Changhui intern Zhao-Dialogue Reporter:" Suppose Europe, the United States of America's economy five years, ten years can not recover until 2008, according to you just said, China's internal supply can maintain more than 10% growth, that can maintain how many years? Steven Cheung: Frankly, if I see those advanced countries, they cannot reform because of political limitations, you do not want to five years 10 years, twenty or thirty years have no hope. Not saved at all, it's worse than Japan. Think about it, for example, West.The unemployment rate of the class has reached 20%, how can you save it? Why would the government have so much money to save them?　　You said the United States is the same. What about politics? Inflation is also said to be not able to abolish the minimum wage can not be cut trade unions can not, only to force the renminbi to appreciate, if the renminbi appreciation can help them, I would oppose, I would agree. If China had listened to me, it would have been no problem for 50 years.