Titlebook: ;

和平

,Warped Incentives and “Second-Best” Efficiency, the central government. They may invest either directly, for example, in public works or through the enterprises they control. They may also act indirectly—by offering incentives to enterprises outside their jurisdictions or to the private sector.

招惹

Taking Away the Ladle,from that of its Western counterparts, however. The state’s dominant role in investment decision making and China’s inflexible foreign exchange rate regime make it difficult for the PBoC to use interest rate policy effectively. It must instead rely on more unconventional strategies to mitigate booms and busts.

Deadpan

VEN

Scientific Development: Master Plan or Myth?, permanent reduction in investment volatility. There would be less wasted investment during booms and less need for central government-led busts. Investment would not only become more productive but also account for a smaller share of final demand.

Consensus

Certainty

8楼

Palpate

9楼

美食家

9楼

ATRIA

9楼

Hla461

10楼