readx; Chen Jingyun had been thinking about how to solve the biggest economic crisis in the thirties for a long time, but at that time it was still in the economic boom period, and it was not easy for him Chen Jingyun to openly invite a large group of aides to discuss how to solve the economic crisis that had not yet happened. Pen @ fun @ pavilion wWw. ｂｉｑUｇE。 infoActually, even if Chen Jingyun said this, those people would not believe it, China said that China's economic development continued to maintain rapid development after the war, and at that time, whether it was officials, economists, or ordinary people, they all thought that China's economy had entered a stage of rapid development, and how could an economic crisis occur under such circumstances.

Therefore, Chen Jingyun pondered by himself before, and most of the methods he considered were also based on the methods used by some countries in later generations to solve the economic crisis.

For example, with the political axe as the lead, increase the construction of infrastructure, large-scale infrastructure will not only directly absorb a large number of workers, but also stimulate the consumption of industrial products such as steel and cement, thereby indirectly creating jobs in other industries. This method is simple and fast, to put it bluntly, it is the political axe to contribute money to stimulate domestic demand, thereby driving the development of the domestic economy. But there is also a very important question here, that is, if the government invests in building a lot of infrastructure, where will the money come from?

You must know that although China has begun to implement currency credit, in order to stabilize the value of the currency, the central government does not say that it can print money at will, but issues an appropriate amount of currency according to the national economy.

It is not feasible to print money directly, so there is another way left, that is, to issue a large number of government bonds and absorb capital for infrastructure construction, and in this way, it will make the government prepare heavy debts, not to mention the fiscal deficit, and it is estimated that the fiscal bankruptcy is possible.

Therefore, although the direct investment of the political axe in a large number of infrastructure construction has achieved good results, it also has its disadvantages.

In addition to the vital jobs and stimulating domestic demand, it is also necessary to restore the trust of the people in the financial industry, at least for the time being, this large-scale run can not continue, last year has been bankrupt in the country hundreds of large and small financial institutions, and even the Southeast Bank has a crisis of monetary tension, if it were not for the political axe to urgently provide loans to the Southeast Bank, and the Ministry of Finance came forward to issue an announcement, saying that the Southeast Bank and a series of domestic banks have sufficient capital, Advise the public not to blindly follow the trend of running. This is to pull Southeast Bank back from the brink of bankruptcy.

However, even if these major banks in China are still in a state of continuous operation, it is certainly not possible to continue this situation.

After all, if the crisis only lasts for a few months and a year, it is not a big problem, but now it has happened for a year, and there is far from the end of the end, which makes a group of economists in China quite pessimistic.

"According to the global economic situation, it is not so easy to end this crisis, because the source of this economic crisis is not in our country or in Europe, but in the United States, in the final analysis, the manufacturing capacity of the United States has risen sharply over the years, and the domestic construction and automobile market in the United States has been close to saturation after several years of expansion, and several countries in Europe have also recovered from the post-war crisis, squeezing out a large number of American products out of the European market. Under such circumstances, the manufacturing industry in the United States has serious overcapacity, and the operating rate of all walks of life has been greatly reduced, and in some industries it has even been reduced to about 10 percent. In this case, if there is not a sufficient market to consume the huge production capacity of the United States, then this economic crisis will not get better for a day, and as long as the American economy does not improve for a day, then this worldwide economic crisis will not get better! Liu Dajun of the Department of Economic Development sighed and said: "In this environment of global economic downturn, it is impossible for my country to stay out of the situation, even if some measures can be introduced to stimulate the domestic economy, but it is only a symptom but not a cure!" ”

Later generations will know that the economy of the United States is a random movement, and earthquakes will occur in the economies of other countries around the world, and this situation will also happen in the United States in the twenties and thirties.

In this era when the United States accounts for more than half of the world's industrial output, after the economic crisis in the United States, other countries cannot avoid it at all, especially those countries that have important bilateral trade with the United States, and it is hoped that European countries can still have the support of the European market, but the export markets of China and China in the Asian region are all dependent on the United States, and as soon as the economy of the United States shrinks, China and the two countries will be affected immediately.

Looking at the deep faces of the people below, Chen Jingyun said: "The source of this economic crisis is in the United States, but we also have to empathize, the most important reason why my country will be affected by the economic crisis is that the export market has weakened significantly. As long as we digest this part of the industry in other aspects. Then this crisis will be solved! ”

When Liu Dajun heard this, he smiled bitterly in his heart, what this chairman said was simple, but consumed from other aspects? But you have to find this market, the United States market is the largest consumer market for industrial products, and many of China's exports are mainly based on the American market, taking the most important raw silk as an example, 90% of China's raw silk is sold to the United States. Another important export product, the pharmaceutical industry, is also the main market in the United States, and the emerging electrical products such as electric fans and radios are also mainly in the American market. Although Europe and Benli also have a certain market, they will definitely not be able to consume so much production capacity.

In addition to this, there is another very important factor, that is, with the advent of the economic crisis, countries have successively raised trade tariffs and created trade barriers to protect their own industries and commerce, such as the United States and European countries, which makes China's export industry more difficult. Of course, China itself has not been idle, and has raised import tariffs twice in a row to protect domestic industry and commerce.

"The market in Europe is not large, and I can't digest so many products!" Liu Dajun said.

However, Chen Jingyun disagrees with his statement, because he has never thought of placing the hope of resolving the crisis in the European market, and he still has the same idea, that is, to expand domestic demand.

In the past few years, in order to collect more foreign exchange, the state has been committed to exporting raw silk and other products, but it will charge high taxes for domestic consumption. The same radio produced by Fule Electric, after being exported to the United States, even if the transpacific freight is added, even if the tariff is added, the price is far cheaper than the domestic one, and the same is true for raw silk.

The reason why they are more expensive in China is not that the quality of these products will be better or the cost will be higher, but because the state has imposed high taxes on these export-oriented products sold domestically, which is equivalent to artificially suppressing the domestic consumption of these luxury goods.

However, there is a problem with this, that is, the country has been affected by this economic crisis, the income of residents has generally declined, and even the cash income of farmers is also declining, although the decline is not large as a whole, but when it is enlarged to the whole country, the impact is huge, and the people's income is reduced, and the people with a strong sense of crisis will naturally reduce their spending, and this has caused a decline in domestic demand. When domestic demand is already gradually decreasing, it is naturally more difficult to transform the products originally used for export into domestic digestion.

In any case, Chen Jingyun has always held an idea, that is, since the export market is not good, then expand domestic demand.

The question now is, how to expand domestic demand!

"Compared to the United States, our industrial output is very small, and our population far exceeds that of the United States and Europe. But now China's demographic advantage has not been transformed into industrial advantage, but even if we pull up a small part, it is enough to digest our country's industrial capacity! Chen Jingyun saw that no one else raised an opinion, so he had to say it himself.

"To expand the level of domestic consumption, on the one hand, it is necessary to raise the people's trust in economic development, calm their sense of crisis, and try to let them consume their income instead of saving it!" Saving most of the people's income is actually very bad for the economic development of a country, which is why not only companies try to get money out of people's pockets, but even the state tries to get people to spend their money.

For the entire economic system, money is only money when it is circulated, and it is nothing more than a pile of waste paper when it is stored and hidden.

"On the other hand, it is necessary to raise the income level of ordinary residents and solve the employment problem of the unemployed!" When Chen Jingyun said this, he had already stood up.

"To solve this problem, it is not feasible to simply give some policy support or even a large number of loan funds to enterprises, and the only thing that can be done is to directly invest in a large number of infrastructure construction, so as to stimulate the development of some basic industries such as steel, cement, and chemicals, and once again influence other industries as a base point, so as to meet the needs of stimulating the development of the entire domestic economy!"

Hearing Chen Jingyun say this, Ma Yinchu, the chief minister of finance next to him, changed his face, as the chief minister of finance, others may not know the funds needed for this large-scale investment infrastructure in Chen Jingyun's mouth, but he can roughly estimate it with just a slight guess.

Without more than 1 billion yuan being smashed, it will be impossible to effectively raise the income level of the people throughout the country, and without raising the people's income level, it will naturally be impossible to talk about raising domestic demand.

And where is this money going to come from? Not only did Ma Yinchu consider this problem, but Zhuang Nan, the president of the Government Council next to him, also considered this problem.

Although the 1929 budget made at the end of 1928 predicted that the central government's fiscal revenue in 1929 would exceed the 4 billion mark, after the economic crisis swept China, the political axe's fiscal revenue also fell in response, not only failed to break through the 4 billion mark, but even the 1928 level was difficult to maintain, only 3.6 billion.

In almost one year, China's growth rate of more than 15 percent per year was completely stopped, and in this case, the 1930 fiscal revenue budget did not dare to mention 4 billion yuan, but only 3.8 billion yuan, which is inflated even in the light of today's economic conditions.

The infrastructure needs to be invested as much as more than one billion yuan, and it is impossible to come up with fiscal revenue alone.