중진국 함정에 빠진 중국의 해법.

바오빠를 유지시키기 위해서 전통적인 굴뚝산업으로는 부족. 서비스 산업(의료, 금융, 교육 등)에서의 확대 및 발전이 필요.

What could this be? The answer is the service sector.

China has a peculiar industry structure. The proportion of the country’s potential economic capacity that is in use has declined from about 80 per cent before 2008 to about 60 per cent in 2012, according to the International Monetary Fund. Despite this, the service sector lacks investment, and is therefore short of both capital and labour. Finance, education and healthcare suffer from monopolies and regulations, which lead to supply constraints and high prices. These constraints also contribute to several important structural problems. 

In the long run, the development of services could finally produce enough supply to match the demand of domestic consumers. Structural unemployment among graduates would decrease; their wages would increase; national income distribution could be made fairer; and consumption in innovative services could be fuelled. Reliance on investment and foreign demand could also become less important.

http://www.ft.com/cms/s/0/564dbddc-a5ba-11e2-b7dc-00144feabdc0.html#ixzz2QaQi26aO