China’s high savings rate has long been considered a barrier to sustainable economic development. According to the People’s Bank of China, China’s savings ratio stood at 46 percent in 2009, much higher than the Uni...China’s high savings rate has long been considered a barrier to sustainable economic development. According to the People’s Bank of China, China’s savings ratio stood at 46 percent in 2009, much higher than the United States, Japan, the European Union and other major developed countries. The Chinese Government has been taking measures to stimulate consumption by lowering the savings ratio. Whether such efforts will pay off has yet to be seen. Wang Qing, Morgan Stanley’s chief economist in China, offered his insights into the matter in the Beijing-based weekly Business Watch magazine.展开更多
文摘China’s high savings rate has long been considered a barrier to sustainable economic development. According to the People’s Bank of China, China’s savings ratio stood at 46 percent in 2009, much higher than the United States, Japan, the European Union and other major developed countries. The Chinese Government has been taking measures to stimulate consumption by lowering the savings ratio. Whether such efforts will pay off has yet to be seen. Wang Qing, Morgan Stanley’s chief economist in China, offered his insights into the matter in the Beijing-based weekly Business Watch magazine.
