Chapter 37 guide

★ Chinese Premier Wen Jiabao said frankly to people at home and abroad that the government needs to control the overheated economy. If the excessive growth cannot be controlled by the government, the Chinese economy will face serious risks. ★ Neither Zhu Rongji nor Wen Jiabao, who successively served as Premier of the State Council, intended to cover up the problem.They are doers who want to build a strong and stable economic system in China, and they understand that playing with data is not the answer. ★At the end of 2008, the global financial system was on the verge of collapse, and the reason why it was finally avoided was largely due to the integration of the two economies of China and the United States.

★Protecting private property rights through the Constitution marks another step towards marketization of the Chinese economy, but it also triggers real estate speculation in some big cities. In this chapter, the author systematically expounds the problems existing in China's financial system. Although he believes that China's financial system still faces many problems that need to be solved, he believes that with the establishment of rules and mechanisms and the increase of transparency, China's financial system will able to function properly.At the same time, the author is also amazed by the rapid development of Chinese enterprises. In the author's eyes, "If the 1990s was the era when American companies flocked to the Chinese market, then the early 21st century is the era when Chinese companies went to Wall Street for gold." The point is that the author has made serious and serious comments on China's financial system from a more objective standpoint of a third party.

In mid-2004, it was not surprising to hear comments like this: "The Chinese economy is in trouble!" "It is too early to say that the Chinese economy will not have a hard landing!" "China desperately trying to achieve a soft landing!" At that time, the world had formed a broad consensus that China's rapid economic growth was unsustainable, unstable, and unbalanced.A soft landing is the best that can be hoped for.If a soft landing can be achieved, the Chinese economy will not suddenly collapse, but the growth rate will slow down.A hard landing scenario is closer to economic collapse.Regardless of whether it is a soft landing or a hard landing, the adjustment of China's economy is inevitable and necessary.