| China＇s Excessive Investment |
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| 摘 要： | China＇ s economy has witnessed serious excessive investment over the past 5 years, mainly in the infrastructure and real estate. Excessive investment has adverse impacts on both economic growth and macroeconomic stability. The main causes of this excessive investment are inappropriate growth strategies, low interest rates and weak constraints on government investment expenditure. To effectively control excessive investment, China needs to adjust its growth strategy, to speed up the process of interest rate marketization, and reform the existing public expenditure system.
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| 关 键 词： | 额外投资 GDP增长 低利率 房地产泡沫 |
China＇s Excessive Investment |
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| Authors: | Pingyao Lai |
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| Institution: | School of International Trade and Economics, University of International Business and Economics, Beijing, China |
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| Abstract: | China's economy has witnessed serious excessive investment over the past 5 years, mainly in the infrastructure and real estate. Excessive investment has adverse impacts on both economic growth and macroeconomic stability. The main causes of this excessive investment are inappropriate growth strategies, low interest rates and weak constraints on government investment expenditure. To effectively control excessive investment, China needs to adjust its growth strategy, to speed up the process of interest rate marketization, and reform the existing public expenditure system. |
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| Keywords: | excessive investment GDP growth low interest rate real estate bubble |
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