Stephan? Roach, senior research fellow at the Yale university) : China will policy to focus on the quality of economic growth 1.5D carbon steel pipe fitting elbows
In China, the recent credit crunch was not from the central bank independent decision, on the contrary, it reflects the major change is a national economic policy. The new leadership of China seems determined to put an end to the need of rapid economic growth, and the policy to focus on the quality of economic growth.
This change is not only reflected in China's 12th five-year plan to promote consumption policies, China appears to be changed for a long time adhere to the proactive fiscal and monetary policy. The new leadership of China policy response to the current economic slowdown, more Galvanized Astm A53 gr b round carbon steel pipe accurately, the current sound policies, the Chinese government's policy shift was verified.
China's new leadership has not launched a new round of fiscal stimulus, but content to 7.5% 7.8% of the GDP growth rate, which is much lower than previous, once as much as 10% of economic growth. But even let has now slowed economic growth continues, China's economic structure needs to be from dependence on external demand to domestic demand, from manufacturing to service industry, from centralized to resources economical growth. The new leadership of China not only reduced the growth target, also highlights SCH80 Seamless Steel Pipe ASME B36.10M the economic rebalancing goals.
In China, and the unlimited expansion of credit days are over. This is a welcome development. According to Bernstein Research, Bernstein Research estimates, China's private enterprise's debt from 140% of GDP in 2009 quickly climbed to more than 200% in early 2013, the surge velocity may have lead to the lost balance of China's further economic imbalances.
Have every reason to believe that China's new leadership has decided to get rid of a growing debt burden, especially within the rapid expansion of the shadow banking system. This position with xi, chairman of the recent "four winds" eliminate formalism and bureaucracy, the wind of hedonism and luxury.
