Abstract Since June, the government has continued to implement policies and measures to address economic downturn. Particularly, some local governments have taken frequent actions, reflecting a sense of urgency. Provinces such as Sichuan, Guangdong, Fujian, Shanxi, Yunnan, and Guizhou have introduced growth-stabilizing measures, with city-level stimulus potentially even more aggressive. For instance, Sichuan rolled out its "16 Measures for Promoting Current Economic Growth," while Chengdu introduced its own "22 Measures." Heilongjiang’s "65 Articles" included reward-based stimulus measures, showing a more intensive approach. While the urgency is understandable, it's essential that emergency responses follow rules and avoid arbitrary actions. Policies should not be improvised but should align with economic principles.
The core issue remains: why does the economy grow or stagnate? According to economic theory, growth is driven by four key factors: human resources, natural resources, capital, and technological innovation. Among these, labor quality is often considered the most crucial. Modern economies demonstrate that natural resources are not always necessary—Japan, for example, thrives despite limited resources, while some resource-rich nations fall into the “resource curse.†Capital, including physical and intangible assets like intellectual property, accumulates over time. However, technology is the most powerful driver of long-term growth. It enhances productivity, improves resource use, and enables sustainable development.
Without technological advancement, growth relying solely on capital and labor will eventually lead to overcapacity and stagnation. Marx emphasized that fixed capital renewal is the foundation of economic cycles, suggesting that fluctuations are inevitable. Economists like Lucas and Prescott argue that short-term stabilization may hinder long-term growth, emphasizing the need to focus on productivity rather than smoothing out volatility. These insights highlight the importance of balancing immediate needs with long-term strategies.
Labor and investment are significant contributors to growth, but they pale in comparison to technological progress. To foster innovation, public policy must create an environment where creativity can thrive. This involves establishing a robust legal framework, protecting intellectual property, and promoting economic freedoms. A free market for labor, capital, products, and ideas is the best soil for innovation. Centralized systems, regardless of their structure, struggle to encourage technological breakthroughs because they cannot force people to innovate. Instead, competition and entrepreneurial spirit in open markets drive progress.
Based on this, the government should prioritize policies that support technological supply. This includes investing in basic science, strengthening patent systems, improving cost-benefit mechanisms, offering tax incentives, and encouraging foreign investment. Reducing R&D costs and streamlining financing channels are also vital. These steps lay the foundation for sustained economic growth.
While long-term strategies are critical, many wonder about the immediate response to current economic challenges. Some may argue that short-term policies are necessary. However, as economist Baumol noted, macroeconomic analysis must not be built on quicksand if it lacks a long-term perspective. Keynesian policies, which focus on demand-side interventions, can be useful in the short term. There are two main types: compensation policies, which aim to stabilize the economy during both booms and busts, and drowning policies, used specifically during recessions to fill gaps and stimulate private investment.
The question now is: Are we using compensation or drowning policies? Theoretically, it’s unclear. However, following the principle of making the market play a decisive role in resource allocation, the drowning policy seems more appropriate. Additionally, reforms that reduce government control and empower the market are essential. Both policies rely on the market’s self-regulating mechanisms, which are fundamental to effective economic management.
It’s also important to consider the side effects of these policies. Will they strengthen market mechanisms or revive elements of a planned economy? Local governments have played a central role in macro-control, reflecting a trend of “local government corporatization.†While addressing the current crisis is urgent, it’s equally important to remain vigilant about unintended consequences.
As the saying goes, “A three-point medicine is not enough.†Even with a clear diagnosis, improper treatment can worsen the situation. If the direction is wrong, speed only leads further away from the goal. Therefore, careful planning and thoughtful implementation are essential to ensure that today’s policies contribute to a stronger, more resilient economy in the future.
Coriolis Mass Flow Meter
Sealand is a trustworthy manufacturer of Coriolis mass flow meter, Coriolis mass flowmeter, Coriolis meter, Coriolis flow meter and Coriolis flowmeter, ATEX, CE & IECEx approved.
The flow meter size covers from DN03 to DN150, and bigger models are being developed. The main specification is as follows.
|
Model No.
|
Diameter
(mm)
|
Max. flow rate
(kg/min)
|
MWP.
(MPa)
|
Accuracy grade
(%)
|
Zero stability
(kg/h)
|
|
CG-03
|
03
|
6
|
4
|
0.1/ 0.2/ 0.5
|
0.012
|
|
CG-06
|
06
|
18
|
4
|
0.1/ 0.2/ 0.5
|
0.04
|
|
CG-15
|
15
|
50
|
25
|
0.1/ 0.2/ 0.5
|
0.12
|
|
CNG-20
|
20
|
120
|
25
|
0.1/ 0.2/ 0.5
|
0.36
|
|
CG-25
|
25
|
200
|
4
|
0.1/ 0.2/ 0.5
|
0.62
|
|
CG-40
|
40
|
500
|
4
|
0.1/ 0.2/ 0.5
|
1.60
|
|
CG-50
|
50
|
1000
|
4
|
0.1/ 0.2/ 0.5
|
2.38
|
|
CG-80
|
80
|
3000
|
4
|
0.1/ 0.2/ 0.5
|
7.05
|
|
CG-100
|
100
|
3600
|
4
|
0.1/ 0.2/ 0.5
|
12.00
|
|
CG-150
|
150
|
8000
|
4
|
0.1/ 0.2/ 0.5
|
50.00
|
Coriolis Mass Flow Meter, Coriolis Mass Flowmeter, Coriolis Meter, Coriolis Flow Meter, Coriolis Flowmeter
Zhejiang Sealand Technology Co., Ltd. , https://www.sealandflowmeter.com