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Thread: The 12th Chinese 5 Year plan approved

  1. #1
    Sage
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    The 12th Chinese 5 Year plan approved

    The China communist government just approved their new 12'th Five-Year Plan (below).

    From what I have read, their government intends to give RMB 14 trillion ($2.1 trillion, at the offical, bogus exchange rate) to public and private sector industries to facilitate this plan.

    Meanwhile, our government burns this amount every year doing no-one knows what with it and accumulating to the debt.

    I worry the Chinese will succeed at there plan again and pull further ahead of us in critical technology and manufacturing areas (their last 5 yr plan largely met their goals).

    Sorry for the long post below, I thought its breadth was interesting. I like their innovation goals


    Economic targets

    -- GDP to grow by 7 percent annually on average;

    -- More than 45 million jobs to be created in urban areas;

    -- Urban registered unemployment to be kept no higher than 5 percent;

    -- Prices to be kept generally stable.

    Economic restructuring

    -- Rise in domestic consumption;

    -- Breakthrough in emerging strategic industries;

    -- Service sector value-added output to account for 47 percent of GDP, up 4 percentage points;

    -- Urbanization rate to reach 51.5 percent, up 4 percentage points
    The entire plan at this Link

    Thoughts?


    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

  2. #2
    Count Smackula
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    Re: The 12th Chinese 5 Year plan approved

    5 year plans rarely turn out quite as well in reality as they do on paper, but the overall direction is solid. The 7 strategic industries getting massive investment are excellent picks. Focusing on social stability over pure growth is an excellent move. I hope this signals that China government will have an equally pragmatic outlook on reforming political issues as well as economic/social ones.

  3. #3
    Outer space potato man

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    Re: The 12th Chinese 5 Year plan approved

    I have a plan to make the US debt drop by 30% in 5 years and improve our highway system and bring unemployment to minus 4%! (4% of the population having stolen identities which they use to work a second job)

    Wait, details?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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