A few tips for China's economy

Updated: 2012-01-13 08:08

(China Daily)

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Comment on "Culture is new growth source" (China Daily, Jan 10)

China should speed up its high-tech research, development and investment. But it should not rely on them to completely replace the declining traditional industries.

The West made a wrong policy choice in this regard by sacrificing its traditional industries such as textiles and garments for high-tech industries, thinking that the emerging economies would not be able to compete with it in those areas.

Now the Western world is feeling the squeeze in some industries because it underestimated the rise of the developing countries.

As for China, it should not only emphasize the industrial development of emerging economies, but also be aware of the re-industrialization of the Western developed countries.

A solid and well-managed industrial base is essential to guarantee the well-being of China's economy and its people.

Manman, on China Daily website

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(China Daily 01/13/2012 page9)