This paper attempts to explain the fundamental cause of China＇s growing imbalanee problems. Economic data confirm that the key structural imbalance problems, such as overinvestment, large current account surpluses, l...This paper attempts to explain the fundamental cause of China＇s growing imbalanee problems. Economic data confirm that the key structural imbalance problems, such as overinvestment, large current account surpluses, low consumption share of GDP and income inequality, have all deteriorated over the past few years, despite continuous policy efforts to correct these problems. We argue that the key determining factor is repressed factor cost, which is associated with heavily distorted markets for labor, capital, land, resources and the environment. These are like implicit subsidies for producers, investors and exporters. They boost growth and, at the same time, lift investment and exports. Previous policy efforts have focused more on administrative measures, which have not been sustainable. Therefore, a more fundamental solution to the imbalance problem lies in completing market-oriented re forms for production factors and allowing free markets to determine prices of labor, capital, land and resources.展开更多
One of the greatest challenges China faces is reshaping its heavily investment-driven mode of economic growth. By investigating how the rebalancing of Japan＇s economic growth mode was realized in the 1970s, we indica...One of the greatest challenges China faces is reshaping its heavily investment-driven mode of economic growth. By investigating how the rebalancing of Japan＇s economic growth mode was realized in the 1970s, we indicate that it is essential in rebalancing to correct the distortions in factor cost （labor cost and capital cost） in a harmonious way. In addition, we refer to Japan＇s experience to indicate that rebalancing of domestic growth does not necessarily lead to external rebalancing.展开更多
Design of video encoders involves implementation of fast mode decision(FMD) algorithm to reduce computation complexity while maintaining the performance of the coding. Although H.264/scalable video coding(SVC) achieve...Design of video encoders involves implementation of fast mode decision(FMD) algorithm to reduce computation complexity while maintaining the performance of the coding. Although H.264/scalable video coding(SVC) achieves high scalability and coding efficiency, it also has high complexity in implementing its exhaustive computation. In this paper, a novel algorithm is proposed to reduce the redundant candidate modes by making use of the correlation among layers. A desired mode list is created based on the probability to be the best mode for each block in base layer and a candidate mode selection in the enhancement layer by the correlations of modes among reference frame and current frame. Our algorithm is implemented in joint scalable video model(JSVM)9.19.15 reference software and the performance is evaluated based on the average encoding time, peak signal to noise ration(PSNR)and bit rate. The experimental results show 41.89% improvement in encoding time with minimal loss of 0.02 dB in PSNR and 0.05%increase in bit rate.展开更多
文摘This paper attempts to explain the fundamental cause of China＇s growing imbalanee problems. Economic data confirm that the key structural imbalance problems, such as overinvestment, large current account surpluses, low consumption share of GDP and income inequality, have all deteriorated over the past few years, despite continuous policy efforts to correct these problems. We argue that the key determining factor is repressed factor cost, which is associated with heavily distorted markets for labor, capital, land, resources and the environment. These are like implicit subsidies for producers, investors and exporters. They boost growth and, at the same time, lift investment and exports. Previous policy efforts have focused more on administrative measures, which have not been sustainable. Therefore, a more fundamental solution to the imbalance problem lies in completing market-oriented re forms for production factors and allowing free markets to determine prices of labor, capital, land and resources.
文摘One of the greatest challenges China faces is reshaping its heavily investment-driven mode of economic growth. By investigating how the rebalancing of Japan＇s economic growth mode was realized in the 1970s, we indicate that it is essential in rebalancing to correct the distortions in factor cost （labor cost and capital cost） in a harmonious way. In addition, we refer to Japan＇s experience to indicate that rebalancing of domestic growth does not necessarily lead to external rebalancing.
文摘Design of video encoders involves implementation of fast mode decision(FMD) algorithm to reduce computation complexity while maintaining the performance of the coding. Although H.264/scalable video coding(SVC) achieves high scalability and coding efficiency, it also has high complexity in implementing its exhaustive computation. In this paper, a novel algorithm is proposed to reduce the redundant candidate modes by making use of the correlation among layers. A desired mode list is created based on the probability to be the best mode for each block in base layer and a candidate mode selection in the enhancement layer by the correlations of modes among reference frame and current frame. Our algorithm is implemented in joint scalable video model(JSVM)9.19.15 reference software and the performance is evaluated based on the average encoding time, peak signal to noise ration(PSNR)and bit rate. The experimental results show 41.89% improvement in encoding time with minimal loss of 0.02 dB in PSNR and 0.05%increase in bit rate.
