Glut of Chinese Goods Causes Global Deflation

Ivan Liu Global Perspectives


Glut of Chinese Goods Pinches Global Economy    

Plants in China keep producing as growth falls, fueling deflationary pressure world-wide

「DONGYING, China— Liu Zijun built a thriving tire-manufacturing business when China’s economy was roaring ahead. But when China’s growth weakened, he had to cut prices to keep his business afloat.

Now the pain felt by industrialists such as Mr. Liu is reverberating across the globe, showing how China, once the world’s most reliable source of growth, is adding to deflationary pressures world-wide…….

http://www.wsj.com/articles/glut-of-chinese-goods-pinches-global-economy-1433212681

這篇寫得很普通,但至少點出了兩項中國思惟(其實,台灣也不遑多讓):

1. 在投資上,沒有創意、習於拷貝他人之商業模式,終致產能盲目擴充。

2. 政府為了保住稅收和充分就業,祭出政策讓銀行提供低利貸款,終致無效率之工廠繼續擴大生產。

A fundamental mismatch of supply and demand haunts other industries. In 2013, Chinese authorities named 19 sectors plagued by overcapacity in the country, including cement, aluminum, copper, chemical fiber and paper.
(根本性的供需失調現象也出現在其他產業。2013年,中國政府點出一共有19項產業苦於產能過剩,包括水泥、鋁、銅、化纖、紙張等)

This has happened again and again in markets, but this was on a super scale,” said Daniel Yergin, vice chairman of the Colorado market-research firm IHS Inc. “People invest, but they don’t see what everybody else is doing at the same time.”
(這種狀況其實在市場上一再發生,但這次來的規模超大

依上所述,把罪過全推給中國(及其工廠)有無道理?