According to the U.S. "New York Times" reported on May 26, over the past 10 years, China's GDP growth of 3-fold, five-star hotel and a car worth several hundred thousand dollars everywhere, running more than 200 White House officials, "Latin America" China seems to dominate the positive changes in the world. However, behind China's economic boom, there is also Japanese-style shell. Although China's economic model is very effective in the early stage of economic development, but later will likely impede sustainable economic development.

    20 years ago, the Japanese show dominance of world trade and global diplomatic gesture. In 1992 the state banquet held in Tokyo by President Bush, suffering flu suddenly collapsed and was seen as deeply troubled by the economic recession of the West, began to rise in the East is "Qing Xiang." But this does not indicate the future prosperity of China, China's rise be called a miracle, but, like Japan, China's state-driven economic model is useful in the early stages of development, but no guarantee of future economic growth.

    Long Island telecommunications research firm in Beijing by the Managing Director of GE Art Howe said: "Japan's economy looks good on the surface, but 40 years from now? It now stopped working. This implies that the first 40 years of pattern wrong? Not That can only prove that the economic model for the then state of development in Japan. "This week, a lot of attention the Chinese market, American executives have also come to Beijing, they are concerned about fair competition, and currency appreciation, and intellectual property rights, those with 20 years very similar to Japan before.

    World War II, Japan established a close relationship with the national private company Empire. Yen by artificially suppressing the value of exports to the United States; Japanese manufacturing low-cost use of U.S. technology manufacturing electronic products; Japan difficult for competitors to enter the Japanese retail trade and financial markets. China today there are many large companies in all key areas of restrictions on foreign competition; yuan low to a rapid increase in Chinese exports, U.S. companies are forced to hand over "technology gems" in exchange for tickets to enter the Chinese market; these big companies in China is a pioneer in the global market, China's economic value is also a communicator.

    Compared with Japan, in China's western retailers and products everywhere, with local companies and competition is very intense. China is undergoing dramatic change: low-cost competitors like Vietnam, is working with China to snatch those who have supported the rise of China's labor-intensive industries; the global economic slowdown that already occupy some key industry leadership in China will no longer rely on exports for economic growth; China commitment to increasing domestic consumption ease dependence on exports, but required less public spending to save more to change consumer habits.
    Although so far, the state-led investment has helped China's development, but, as export growth can not keep, like the construction of new highways and factories can not always be increased. Japan's economic miracle was the end of the real estate bubble, a series of policy mistakes led to long-term deterioration of the Japanese economy. China's economy is still in the early state of development, the Chinese government should look for a lesson from the Japanese experience, to avoid the same mistake.

    Source "China Textile Network"

    Editor: Yan Zhu