Increasing imports could help spend more foreign reserve and benefit all people in China. Actually, it is now not wise to have such a high amount of foreign money in hand. Using up it is a better way to stimulate the economic growth. Well, does this work? Absolutely!
People in China are aware of how to work innovatively, and hope to build up a beautiful, happy and wealthy nation. People in China are hard-working people loving peace and life, who shall have and deserve a better life!
Focus on domestic market may reduce the impact of the on-going trade war. Three steps would do.
1. Invest more in eduation by populating the 12-years public-funded education system (i.e., each kid has to have completed 12 years education including completion of YuWen and Maths courses, free of charge);
2. Invest more in social security to cover all seniors (older than 60 years old) regardless in urbern or rural areas;
3. Invest more in physical sectors (industry and agriculture).
Doing above may help solid growth of economy. Reducing to even ending exports of goods would not be a big deal to the economy at all. More importantly, building more stronger muscles is essential for protection of wealth and of people security. All these are being done under the leadership of Chairman Xi Jinping. He resembles his precedesor Chairman Mao ZeDong, the greatest Stateman in the China 5000 years history.
Below is a copy and paste that was posted in this forum before. It is intriguing to read it again.
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UK Navy destroyer in the South China Sea (SCS), declaring freedom of navigation
Fortunately, no confront with the PLA Navy took place although it was closely being watched. Obviously, UK, a developed country and member of G7 and NATO, is one of the most powerful countries in terms of its GDP per capita (~$48000) and military capabilities. Its annual electricity production per capita (AEPPC) was 5259 kwh in 2017, that was nearly 300 kwh more than the China (5000 kwh) counterpart (see the World Factbook at the CIA website). Interestingly, China GDP per capita was ~$9000 last year, much lower than the UK figure. Very interesting, indeed!
When looking at the composition of economies of both UK and China, a surprising point stands out that the UK economy (GDP) comprises over 80% service and less than 20% physical sectors (i.e. industry and agriculture), whereas the China GDP is contributed by 52% from service sector and 48%from physical economy. This simple comparison suggests that it may have not been wise for the UK Navy to enjoy the navigation freedom in the SCS if a real conflict takes place with the PLA Navy, although the former seems stronger. Think it about.
My conclusions are simple: 1) China GDP per capita figure was much undercounted if the physical law is right for both China and UK. (How can it be right for the difference of AEPPC of 300 kwh between them but the GDP per capita difference being 6 folds?). 2) China is a peace-loving nation, although she is forcing potential threat in the SCS. 3) It is time to review and revise all the GDP data of the nations worldwide by using a more reliable criterion, e.g. AEPPC. 4) AEPPC of 5259 kwh may serve as an index for a country that has been reached the level of developed countries, like UK; thus, China is still a developing nation because the China AEPPC is lower than the index, still ~300 kwh short. Such gap will be filled by the giant hydro project when it begins generating electricity in 2020. see the link on the project: https://www.youtube.com/watch?v=79xLhWVXPOo
My final point is clear that the world is becoming better and more peaceful because of the contributions by all peace-loving nations including the USA, UK, France, Russia, and China.
