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Chapter 1835 The fundamental problem of Xingang¡¯s economy

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    For a place like Xingang, with less land, more people, and scarce land resources, it is an inevitable step to move low-end labor-intensive industries to the mainland where labor costs are lower.  The problem in Xingang is that while the manufacturing industry is outflowing, it has not been able to carry out corresponding industrial upgrading and develop high-tech industries.  The development of Xingang has always been closely related to the mainland. In the early days, Xingang was always a free port focusing on entrepot trade. After the establishment of New China, and the outbreak of the Korean War, countries led by the United States imposed a trade embargo on China. Xingang relied on  The entrepot trade could no longer continue and was forced to embark on the road of industrial development.  Xingang relied on the advantages of the free port and European and American technology to develop export processing. The manufacturing industry developed smoothly. By the 1970s, the manufacturing industry accounted for 30% of the local GDP, the highest in history.  By the end of the 1970s, as the mainland implemented reform and opening up, Xingang's labor-intensive manufacturing industry began to move to the mainland, forming a cooperation model of front stores and back factories, making full use of the comparative advantages of the two places. While the manufacturing industry was relocating, Xingang's services  industry develops rapidly.  In particular, the international finance, international trade and shipping industries have developed rapidly, and Xingang has also transformed from a free trade port focusing on the export of local products to a free port focusing on the service economy.  The share of manufacturing in GDP continues to decline, now only about 6%, and its share in employment is less than 10%.  The Asian financial crisis broke out in 1997. Although with the support of the Pingjing government, the value of the new Hong Kong dollar did not depreciate significantly, the property and stock markets of New Hong Kong were still affected.  The property market has plummeted, the economy is in recession, the unemployment rate continues to rise, and the finances have deteriorated In contrast, Taihu, South Korea and Xincheng, which also suffered from the financial crisis, have all entered the recovery trajectory this year, but Xingang is still in the quagmire of economic recession.  struggle.  The reason is that Xingang's economy relies too much on trade and financial services, while Taihu, South Korea and Xincheng all have their own industries. In addition, Xingang has always pursued a liberal economic policy, and the government basically has no effective intervention in the economy.  .  Xingang's laissez-faire economic model is very rare. This stems from Xingang's previous role as a British concession and its return in 1997. It is impossible for the British to make long-term plans for the development of Xingang. British practices may even  Some contradictions are left intentionally.  The pillar industries of Xingang are real estate, re-export logistics and high-end service industries. Without a solid industrial foundation, real estate is like water without a source. However, re-export logistics faces competition from mainland coastal ports and has gradually bid farewell to rapid growth, while high-end service industries such as finance  The employment threshold is very high, the employment tolerance is low, and the number of people who can truly be employed in the high-end service industry is limited.  Moreover, Xingang's high-end service industry is increasingly marginalized, and Xingang's status as a financial center is constantly being challenged. Pujiang, Shenzhen, Tokyo, and Xincheng are all squeezing Xingang's development space.  After the return of Xingang, faced with the economic development problems of Xingang, all walks of life in Xingang are also generally aware that there are structural problems in Xingang's economy. It is necessary to adjust the industrial structure that relies too much on the service industry and promote the diversified development of the economy.  Xingang has proposed the development of information technology, Chinese medicine port, cyberport, local economy, dual economy and re-industrialization. The Xingang SAR government has also established an Innovation and Technology Agency to strengthen the overall management of Xingang's science and technology infrastructure and promote corporate innovation.  Technology support, but in general, Xingang¡¯s economic transformation and industrial structure adjustment have not been successful. The proportion of manufacturing continues to decline. The development of innovative technology and information technology is also very slow, and it relies too much on a small number of service industries such as finance and real estate.  The pattern has not changed significantly.  In Bao Feiyang¡¯s view, it is inevitable that Xingang¡¯s manufacturing industry will be outflowed to the adjacent low-cost Pearl River Delta region due to high housing prices, high wages and labor shortage.  In the early days, Xingang established a division of labor and cooperation relationship with the Pearl River Delta region. The Pearl River Delta carried out production and processing, and Xingang was responsible for research and development, design, and export trade. The booming development of Xingang's re-export trade drove shipping, aviation, warehousing, terminals, communications, insurance, finance,  The development of various service industries such as real estate, law, accounting and tourism.  At the same time, Xingang Company, which has set up factories in the Pearl River Delta region, has greatly expanded its business scale and has also created huge demand for Xingang's related production and service industries, further promoting the rapid development of the service industry.  However, with the development of the mainland's economy, it is impossible for the mainland to only do low-end processing and manufacturing forever. The mainland's industries are constantly upgrading, and accordingly, Xingang's advantages are becoming less and less.  The cost in the mainland is much lower than that in Xingang. Although Xingang is still stronger than the mainland in terms of high-end service industry and international integration, this advantage will become less and less. If Xingang does not change, Xingang will  Its status will become more and more embarrassing, and it will be completely hollowed out, and then it will be surpassed and marginalized by mainland cities one after another.  In fact, this problem is not only encountered by Xingang. When an economy as large as China develops rapidly, the whole worldwill be affected.  Not only the manufacturing industry in Xingang will be outflowed, but also the manufacturing industry in countries such as the United States, Japan, and Europe will be outflowed. These countries will inevitably face the impact of the outflow of their own manufacturing industries.  The Japanese economy has not grown for many years, and the European economy is also in recession. The reason why the United States has been able to maintain rapid growth in these years is entirely due to the strong foundation of the United States and the outbreak of the new economy.  Even in Europe and Japan, their industrial base is very strong, and their technical strength is equally strong. When they lose their low-end manufacturing industry, they are still in the heavy chemical industry, electronic manufacturing field, and high-tech industry with higher technical requirements.  The government has the right to speak, and continuous industrial upgrading has allowed them to bid farewell to scale growth, but the quality of the economy has not declined significantly.  But Xingang cannot do that. Xingang itself lacks high-tech industries. Although they invest heavily in manufacturing in the mainland, not many of the manufacturing industries invested by Xingang have advanced technology.  In this regard, Xingang cannot even compare with Taihu. Taihu is very powerful in the field of electronic manufacturing. It not only has foundry giants such as Foxconn, Semiconductor Manufacturing Company, UMC, and Inventec, but also has companies such as VIA, Nvidia, and Asus.  electronics giants, in contrast, there are almost no such manufacturing giants in Xingang.  Xingang's industrial foundation is actually very weak, and it has almost no foundation or advantage in new technologies. Xingang wants to develop high-tech industries and innovative industries. This is the right path, but it is still somewhat inadequate, especially when Xingang's land prices  When housing prices soar, Xingang's business costs continue to rise, causing Xingang's competitiveness to further decline.  In Bao Feiyang¡¯s view, the development of Xingang must rely on the mainland. This was the case in the past, is the case now, and will be the case in the future.  To solve the problem of development, Xingang must first resolve its own positioning, whether it is a city-based economy or a relatively independent economy.  If it is positioned as an urban economy, then Xingang does not need to consider the development of industrial diversification. There are some cities in the world that thrive on a single financial and service industry, such as London and New York. Xingang only needs to continue to strengthen its ties with the mainland.  Economic ties, continue to remove obstacles with the mainland, integrate into the mainland's economic division of labor, and continue to expand its advantages in the service industry to the mainland. Relying on the mainland's rapidly growing economy, Xingang can achieve sustained development and growth.  And if it is positioned as an independent economy, Xingang must change the industrial structure that relies too much on the service industry.  From an international perspective, the most competitive small and medium-sized economies in the world today, such as Xincheng, Taihu, Finland, Switzerland and other countries and regions, have roughly maintained their industrial structure at 35% industry and 65% service industry, and  Mastering the leading technology in a certain industrial field and owning several traditional high value-added brands, currently, Xingang does not have such conditions.  As an independent economy, Xincheng can actually become a reference template for Xingang. The two places have too many similarities. Xingang has a land area of ??1,100 square kilometers, and Xincheng has a land area of ??only 719 square kilometers. However, Xingang has part of the mountainous area.  , so the land resources of both sides are almost the same.  New Town has a population of five million, while Newport¡¯s population has reached six million Although New Town has the advantage of the Strait of Malacca, in a sense, Newport, which has the support of the mainland, has many conditions that are actually greater than New Town. Newport has recently  In recent years, it has been the world's largest container port, surpassing Xincheng. From this point, we can see the advantages of Xingang.  However, Xingang is far inferior to Xincheng in terms of industrial diversification and industrial structure adjustment. The fundamental reason is that Xincheng has a strong government. Xincheng's state-owned economy is very developed, and Xincheng government will formulate a long-term development plan for its own development.  , and then use the power of the government to intervene to keep the country's development in the right direction.  In contrast, Xingang used to practice laissez-faire. The government only implemented simple management of economic development without planning, guidance, and strong intervention. This resulted in Xingang lacking a solid local industrial foundation.  After the return of Xingang, Xingang implemented one country, two systems. The Xingang SAR government intervened in the economy, but it still focused on guidance, unlike Xincheng, which could carry out strong intervention. The effect was very different.  It is foreseeable that if Xingang does not have strong intervention, the development of Xingang will still be like that of another time and space. Although it cannot be said to be a recession, compared with the rapid development of the mainland, Xingang's dazzling aura will gradually dim.  The gap will also become wider and wider.
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