中国的收入差距战役

北京——

中国刚刚出台的新“国民经济和社会发展五年计划”中的一个重要目标是提高家庭(可支配)收入的增长率,使其能与中国的GDP增长率持平。制定这一目标的原因很简单:在过去的10多年里,中国家庭收入的增长比GDP的增长要缓慢许多,使得家庭收入占国民总收入的比例越来越小。

这种趋势导致了许多重大的结构性问题。增长缓慢的家庭收入抑制了私人消费,纵然市场有能力制造更多的消费品也无济于事。这一趋势还促使公司的储蓄上升,因为公司收益的增长比家庭收入(因此比总体的GDP增长还要快)的增长要快。随着公司把储蓄投资于其他领域,这可能反过来会导致更大的投资或资产泡沫。此外,很明显,滞后的家庭收入促成了中国的贸易盈余局面,因为低水平的国内消费使得中国的出口多于进口。

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