Adjusting economic development

[At the recent Davos meeting] China’s feisty new-generation leader (and premier-in-waiting), Vice-Premier Li Keqiang, declared, “we must change the old way of inefficient growth and transform the current development model that is excessively reliant on investment and exports.” Beijing is getting serious about boosting internal consumption.

Li announced, “We will focus on boosting domestic demand.” Coming from Washington such words would inspire a yawn. Coming from the future leader of China, the word “transform” demands attention.

Beijing has the resources and power to transform its economy. We’ve seen proof of that in the past year.

Li listed a number of initiatives including a stronger health care safety net and to subsidizing rural poor to buy household appliances. As Li sees it, “The growth in domestic consumption in China will not only drive growth in China but also provide greater markets for the world.” That’s encouraging news for global companies who wish to sell to an increasingly wealthy Chinese consumer, and for Chinese firms looking to expand internally.

http://www.stockmarketsreview.com/news/pay_attention_to_china_s_new_growth_model_20100204_2779/

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Chengdu Jinli Ancient Street (成都锦里古街 Chéngdū Jǐnlǐ Gǔjiē): Historic street with traditional architecture, shops, and street vendors. Chengdu Happy Valley (成都欢乐谷 Chéngdū Huānlègǔ): Amusement park with rides, attractions, and entertainment for all ages. Chengdu Zoo (成都动物园 Chéngdū Dòngwùyuán): Zoo with diverse animal exhibits, shows, and educational programs. Chengdu Culture Park (成都文化公园 Chéngdū Wénhuà Gōngyuán): Park with historic sites, gardens, and cultural exhibitions. Chengdu Eastern Suburb Memory (成都东郊记忆 Chéngdū Dōngjiāo Jìyì): Cultural theme park with traditional architecture, performances, and activities. Chengdu Happy Valley (成都欢乐谷 Chéngdū Huānlègǔ): Amusement park with rides, attractions, and entertainment for all ages. Chengdu Teddy Bear Museum (成都泰迪熊博物馆 Chéngdū Tàidíxióng Bówùguǎn): Museum with teddy bear exhibits, collections, and interactive displays. 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