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"' area 'all the way so that a new initiative is President xi jinping in 2013, is China after the reform and opening-up policy since 1979, the first is the most important foreign economic and diplomatic initiative."On March 22, 2016, honorary President of the national development research institute of Peking University, a former world bank senior vice President and chief economist Justin Lin, a professor at the 2016 annual meeting of boao Asia BBS said."Area" initiative for Asia?In Lin's view, the construction of infrastructure and labor-intensive industries transfer of China brought new opportunities for the emerging economies.
In 1979 China is still a relatively closed economies, and in the "miracle" of 1979 to 2015, China's average annual economic growth rate reached 9.7%.According to the PPP calculation, 2014 China has overtaken the us as the world's largest economy.What is the secret of China's economic miracle?In Lin's view, "the most important reason is that at the time of reform and opening up, China adopted a very pragmatic transition with open strategy; adopt a pragmatic, progressive, double-track reform, and transformation."At the same time, make full use of both international and domestic markets and resources, such as "to get rich first build roads" is a valuable experience in the process of China's reform and opening up as well.
"Road unicom" the principles of economics
Unicom "road" is the primary content in "area" initiative, and infrastructure for the development of the economy, the importance of completely can be explained by the basic principles of economics.Lin pointed out that Adam Smith's the wealth of nations, the most important market in the idea is: the wider the scope of the market, division of labor, the more fine, each country, each region will be able to better play to its advantages, and its advantages to exchange with other areas, and form the multilateral win-win.
"How wide the range of the market, how much, depends on how high transaction costs."Justin yifu Lin said, "decided to market transaction cost is one of the most critical infrastructure."In terms of China's experience, the perfect infrastructure, roads, unicom, China can expand the scope of the market, to ensure that the scarce natural resources, China has the advantage of the products also can enter into greater market.
For the current developing economies, infrastructure construction is one of the most core requirements."The vast majority of the developing country's economy has a lot of bottlenecks, one of them is the infrastructure is very shortage, so much so that many countries it is difficult to play to the advantages of it."Justin yifu Lin said, "' area 'initiative comes all the way was infrastructure unicom brought in all aspects of the trade, humanities, cultural communication, circulation, the initiative know' area 'all the way along the country especially in Asian countries, is a new opportunity."
As China's economic miracle, put forward the "area" initiative also has its advantages.Justin yifu Lin said: "first of all, China on infrastructure construction ability, is should be the most competitive in the world, China's infrastructure construction material industry, steel, cement and so on is the most competitive of the world; for the funds required to the infrastructure construction, China has $3.3 trillion in foreign exchange reserves, is also the most adequate conditions."
"Area" national historic opportunity: China's labor-intensive industry transfer.
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