China New Supplyside Economics.pdf

China New Supply-side Economics Teng Tai1 Introduction ： The influence of China New Supply-side Economics ’has expanded since my ‘Declaration of China New Supply-side Economics ’was published in 2012. The article of ‘Restart reform from supply-side ’published by the ‘Economic observer ’in May first reported the research framework of the author, which is also regarded as the guideline of ministerial programme of the new Chinese government led by Mr. Li Keqiang. What ’s more, the CPC Central Committees reform decision issued just after the Third Plenary Session of 18th CPC Central Committee has multiple anastomosis with my newest book, ‘The Theory of Public Enrichment: the New Supply-side Economics ’ Way to a Mighty China, ’indicating the New Supply-side Economics ’forthcoming dominant role in the Chinese economic interests. This article is to introduce the complete theoretical innovation of New Supply-side Economics. The New supply-side Economics has redefined the economic cycle as a four-stage cycle, which includes the new supply forming stage, expansion stage, mature stage and aging stage successively. The economic recession should be attributed to the age of the supply structure. The New supply-side Economics also advices that in order to cope with the economic recession, the policy of structural adjustment under the guideline of ‘new supply creates new demand ’ should be adopted by the government. Except for the cyclic and structural supply-aging, the reason of the failure to demand creation includes the direct supply-side constraints, involving regulation and monopoly, and indirect supply-side constraints, involving heavy ta