China¡¯s six predominance in dealing with global financial crisis

The global financial crisis exerts some influence in China¡¯s economy, which brings new challenges. On dealing with this crisis, China has six predominance compared with developed countries.

First, direct influence is limited

China¡¯s finance industry has a short history in opening to the outside, which means a relatively low interaction with the international market.

Second, China has a good economy basis

1. China¡¯s finance is in good situation. The state revenue has been higher than GDP growth and gained large surplus for several years. 2. China has an adequate foreign exchange reserves. China now has foreign exchange reserves of 1,900,000,000,000 U.S. dollars, and foreign debt balance of only more than 400,000,000,000 dollars. 3. Enterprise funds Chain and residents investment chain are basically smooth.

Third, China has great potential in exerting economy by investment

China¡¯s present infrastructure is far from meeting the needs of its economic development and living standard upgrade, which brings great investment potential.

Forth, China has great potential in exerting economy by consumption

China has a promising future in exerting economy by consumption. Every year, about 8,000,000 new labors are added in recent years, whose consumption and employment will contribute to economic growth.

Fifth, has strong government control

Compared with developed countries, the Chinese Government has a relatively stronger strength in macro or regional economic control.

Sixth, has the predominance of shift in economic position

China¡¯s uplifting in international economic position in recent years is in the favor of dealing with this global financial crisis. In one point, China¡¯s economic development is exerting increasingly heavy influence to the world, which requires more consideration on ¡°Chinese factor¡± when countries and regions are negotiation over important development issues. And in another, China is not only a big export country, but a import country, it is a promising market of great potential which means special chances for some countries and international leading organizations in global exploring and expanding.

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