The special significance of consumption upgrading to promote industrial upgrading

by:Ennas      2021-12-23

At this time, the executive meeting of the State Council deploys consumption upgrades to promote industrial upgrades, which is of special significance. Premier Li Keqiang requested, “Focusing on new consumer demand, innovating the supply of consumer goods and other related industries and service industries can enrich people’s lives, release the potential of domestic demand, make up for shortcomings in people’s livelihood, and promote industrial upgrading and product quality improvement.”   Consumption and investment plus foreign trade exports. This is three yuan of GDP, but it is easy for ordinary people to confuse it. It is simple to change the way of understanding. I will try to translate it for everyone. You and I are both labor, but if you don’t have a job, it can only be wasted labor. Okay, now we all have jobs. We have joined two companies. My company uses a variety of production materials to produce a machine. Your company just happens to be I bought the machines I produced to produce children's toys, the toys produced were sold to our own children, and of course there were more toys sold to American children. I produce investment goods machines, and you produce consumer goods toys. Your boss’s buying of my machines is called investment, my children’s buying of your toys is called consumption, and the toys you sell to American children are called exports. This ignores that we have to eat, live in buildings, and let the car run on the highway, because everyone says that these are surplus, so I assume that the toy you and I produced is the new demand from the Prime Minister. Innovative consumer products, consumption upgrades.   For this example, in fact, continue to analyze it forever. When we produce tools and toys, we all spend your working time. Our time is a resource. At the same time, we also spend production materials. If we all need plastics, then this is a chemical product, which is actually made out of oil. So, we will immediately encounter a tall economic 'ontological' choice, how to allocate our time and oil, whether to produce more consumer goods or to produce more investment goods, the production of investment goods such as tools can improve the future The high production efficiency allows us to produce more consumer goods faster and better in the future, but producing consumer goods now allows us to meet consumption now instead of delaying it until later.   Everyone knows the problem now. We have invested too much and not enough consumer products. Our overall mass production has a structural problem. Therefore, everyone still has to work, but more time needs to be devoted to the production of consumer goods, and then we will buy it. It stands to reason that as soon as we buy, we keep our jobs, our incomes increase, and the entire social resources are once again fully utilized. GDP continues to grow at a medium-to-high speed, and production efficiency is getting higher and higher, because we are using more innovative production methods to produce more innovative products.   Very wonderful things, these are reasonable logic, but the difficulty lies in the transformation of your work. I used to make tools, but now you want me to make toys, I don’t know how. The same is true for my boss. His biggest asset is his factory, but his factory is for production tools. Now there are too many tools. The factory cannot continue to operate and has to be shut down, and his workers will lose their jobs. You said everyone can transform together to produce toys! Yes, but can a tool factory become a toy factory in one day? In this way, we can understand how difficult it is for the Chinese economy to transform and take a long time to digest. What are the experts and scholars who only yell in theory to cut investment and increase consumption. They also know that the transition is painful. They know that a large number of people need to be transferred or even become unemployed. They think this is an inevitable price, but they don’t need to experience this pain, and the policy makers are not economics. At home, they need to consider the social affordability and the strength and possibility of transformation. Therefore, the most important thing is balance. In the transformation of investment and consumption, it is the first to prevent unemployment from becoming a major problem. Unemployment is the biggest waste of production resources, and the labor force and the innovation ability of labor force are the growth of GDP. The source; therefore, consumption must be upgraded, and investment must also be secured. In fact, the upgrading of toy production enterprises can be to produce toys that children prefer, creating new demand for parents to buy and buy, and the upgrading of production tools enterprises can be to provide toy factories with new production equipment, such as production robots, or simply Production of robot toys.   One day, I will probably buy a robot for my child. This is a toy and maybe a production tool at the same time. In that analogy, you and my two companies have no distinction between consumption and investment.
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