Only development path that suits real conditions can revive northeas
China has, again, issued a guideline to boost the sagging economy of its three northeast provinces, a rust belt that suffers from slowing growth, outflow of investment and exodus of professionals. The guideline is welcome because Liaoning, Jilin and Heilongjiang provinces were once a major pillar of the national economy.
Liaoning province, once a leading economy of the country, registered a minus 2.2 percent growth rate in the first three quarters of this year compared with the same period in 2015. Jilin and Heilongjiang achieved better performances, but in contrast to their industrial clout some decades ago, they have now become the economic underdogs in China.
The policy's tone this time remains roughly unchanged from the previous ones. Since early this century, China has repeatedly called for boosting the northeast's economy. In 2003, it issued a new policy to rejuvenate the region, more than 10 years later, this national strategy has suffered a setback and a new way has to be found to meet the goal.