《Capitalism with Chinese Characteristics》的笔记-第285页
- 页码：第285页 2012-02-21 09:10:38
China today is a darling of foreign investors, but it should heed another from Latin America as well: The sentiments of foreign investors are poor predictors of long-run economic prosperity......The first microeconomic challenge is the deterioration of China's productivity performance. This is a very worrisome development, but few economists have noted or thought about its deep implications. The low productivity trend can be indicative of significant macroeconomic volatility and slowdown in the future. The second microeconomic challenge has to do with what I call "a matching problem." This is a situation in which the most innately competitive and capable firms are not matched with resources -- broadly defined to include capital and legal support. Private-sector firms, although efficient and innovative at the firm level, lack resources to compete effectively.
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