* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, October 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

    Books about the arts and some haunts for a Denton October – Denton Record-Chronicle

    Uncover Artistic Treasures and Spooky Adventures to Experience in Denton This October

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

    Books about the arts and some haunts for a Denton October – Denton Record-Chronicle

    Uncover Artistic Treasures and Spooky Adventures to Experience in Denton This October

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Entertainment

Should China Develop Manufacturing or Services? It’s Not Either Or

June 15, 2024
in Entertainment
Should China Develop Manufacturing or Services? It’s Not Either Or
Share on FacebookShare on Twitter

China’s economy is at a critical juncture, sparking ongoing debates in academia about the optimal paths and goals for this transition. A key question is whether China should prioritize development of the manufacturing or services sector. Some local governments have even set targets for how much of their GDP output will stem from manufacturing, effectively pitting manufacturing against services.

However, in my view, manufacturing and services are not mutually exclusive. People who deem it so are not only making a mistake in their economic analysis — they are also failing to grasp what is needed for the next step in China’s economic development.

China’s per capita GDP is transitioning from that of a middle-income country to a high-income country. This necessarily requires changes to the country’s economic structures. In terms of industrial structure, the tertiary sector currently accounts for more than half of China’s GDP — 54.6% in 2023 — indicating that the economy has already entered a post-industrial stage.

China is undergoing profound changes, but people’s perceptions and behaviors, from industry to policymakers, often lag behind. If government departments at all levels fail to come to grips with what is happening, China’s economic development will be constrained. The chief issue before us is not whether China will suffer from “Baumol’s cost disease” — employment overly concentrated in the tertiary sector — which will lead to the hollowing out of the manufacturing sector, but rather whether policymakers and the public can break free from certain mindsets formed during China’s previous period of industrialization to effectively meet the needs of a post-industrial society.

Specifically, we should avoid four types of dichotomous thinking:

1. Avoid pitting manufacturing against services

China has a strong tradition of valuing manufacturing over services, which can often mean equating a strong manufacturing sector with having manufacturing be responsible for a high proportion of GDP.

This underlies the popular belief in the 2010s that China should emulate the “German model” of having an export-driven economy with a strong manufacturing base, advocated by leading scholars such as Li Daokui, president of the Institute for Chinese Economic Practice and Thinking at Beijing’s Tsinghua University, and Ding Chun, director of the Center for European Studies at Shanghai’s Fudan University.

However, emulating the German model does not mean maintaining a high proportion of manufacturing in the economy. In fact, Germany’s manufacturing sector is responsible for only 18% of the country’s GDP. Germany is also only roughly the size of China’s Yangtze River Delta region, which limits the applicability of the German model to China.

In reality, the manufacturing and services sectors are more interrelated than some might think. For example, domestic services that use manufactured goods as intermediate products can help absorb some of the overcapacity of Chinese manufacturing sectors that would otherwise be reliant on exports, such as the healthcare sector’s use of medical equipment and machines.

Therefore, we should avoid thinking that promoting the services sector is somehow shifting from the real economy to the virtual or that it takes away labor from manufacturing. Instead, we should look for ways to promote both services and manufacturing.

2. Avoid pitting production against consumption

Economic theory often distinguishes between consumption and production activities. However, in reality, a lot of consumption of services is inherently beneficial for production such as education and healthcare, which increase knowledge and health, thereby boosting human capital.

Consumer-facing industries can also drive technological progress, such as the gaming industry’s development of the metaverse, the healthcare industry advancing biopharmaceutical innovation, and cultural industries improving lighting and sound technologies. Moreover, many services enhance labor productivity by essentially outsourcing household production tasks to the market, such as catering and childcare.

On a macro level, as Chinese cities compete to attract talent, it is smart policy to promote high-quality local services to attract the best talent.

3. Avoid pitting online against offline

The rapid development of the digital economy has led many to worry that the online economy will replace offline activities, even impacting the real economy. In fact, much of the online economy empowers the offline economy.

For instance, livestreaming e-commerce platforms help small-scale producers in the textiles industry expand their market reach, streamline sales, and boost efficiency. These benefits are particularly important in regions with relatively small markets and sparse populations.

Even if online activities do replace offline ones, this is only ever partial as the two economies do not operate independently of one another. A simple example illustrating this is that in urban areas with higher population density, food delivery orders are not only higher in quantity but also in the diversity of options available and the quality of the food.

4. Avoid pitting high-end against low-end

Many people differentiate between “high-end” and “low-end” services such as elderly care and hospitality. While it is true that workers in these industries often have lower educational levels, these “life services” are often essential for the productivity of workers in China’s “high-end” industries.

Life services jobs are also less vulnerable to automation than other sectors, which helps with employment. More importantly, many life services have been transformed by technological innovations, which have expanded the economic potential of these so-called “low-end” industries. For example, household service platforms are using big data to transform in-home services into advertising and sales channels for daily necessities.

Editor: Wu Haiyun and Vincent Chow.

(Header image: Delivery riders in Taiyuan, Shanxi province, March 2024. VCG)

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : SixthTone – https://www.sixthtone.com/news/1015328/Should%20China%20Develop%20Manufacturing%20or%20Services?%20It%E2%80%99s%20Not%20Either%20Or

Tags: ChinaentertainmentShould
Previous Post

Luka Doncic leaves door open for NBA Finals redemption by setting tone for Mavericks in dominant Game 4

Next Post

Greece: Mysterious 4000-year-old structure unearthed in popular Greek island Crete

Learned use of an innate sound-meaning association in birds – Nature

How Birds Harness Innate Sound-Meaning Connections Through Learning

October 7, 2025
This Ancient Statue Was Discarded by Raiders. Scientists Think It’s a Rare Treasure. – Popular Mechanics

Forgotten by Raiders, This Ancient Statue Could Be a Priceless Treasure

October 7, 2025
Scientists used AI to map uncharted areas of the mouse brain – Live Science

Scientists Harness AI to Uncover Hidden Regions of the Mouse Brain

October 7, 2025
Pets of the Day: Sweep the clouds away with Zoe, Telly and Elmo – Yahoo

Meet Zoe, Telly, and Elmo: Your Daily Dose of Sunshine and Smiles

October 7, 2025
Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

Could Light-Speed Analog Computing Transform the Future of Technology?

October 7, 2025
Frustrations grow around Bill Belichick and North Carolina after team’s porous start to the 2025 season – Yahoo Sports

Frustrations grow around Bill Belichick and North Carolina after team’s porous start to the 2025 season – Yahoo Sports

October 7, 2025
Jason Anderson Signs for Suzuki for 2026 SMX World Championship – Monster Energy AMA Supercross

Jason Anderson Signs for Suzuki for 2026 SMX World Championship – Monster Energy AMA Supercross

October 7, 2025
Downtown St. Paul’s economy showing new life after state employees mandated to return to office – 5 EYEWITNESS NEWS

Downtown St. Paul Thrives Again as State Employees Return to the Office

October 7, 2025
No, Anthony Boyle Didn’t Use a Prosthetic in His House of Guinness Bath Scene – Yahoo

Anthony Boyle Opens Up About the Shocking Truth Behind His House of Gucci Bath Scene

October 7, 2025
Ozzy Osbourne documentary reveals agonizing health struggles of his final years – USA Today

Inside Ozzy Osbourne’s Heartbreaking Battle with Health in His Final Years

October 7, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (856)
  • Economy (876)
  • Entertainment (21,749)
  • General (17,463)
  • Health (9,918)
  • Lifestyle (889)
  • News (22,149)
  • People (878)
  • Politics (887)
  • Science (16,087)
  • Sports (21,377)
  • Technology (15,857)
  • World (859)

Recent News

Learned use of an innate sound-meaning association in birds – Nature

How Birds Harness Innate Sound-Meaning Connections Through Learning

October 7, 2025
This Ancient Statue Was Discarded by Raiders. Scientists Think It’s a Rare Treasure. – Popular Mechanics

Forgotten by Raiders, This Ancient Statue Could Be a Priceless Treasure

October 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version