China’s success has been driven by cheap exports based on cheap labor, infrastructure built by state enterprises with low-cost bank funding, and government budgets funded by land sales. But labor is no longer cheap, road construction to connect major cities has given way to building large shopping malls in small towns, and land sales based on rezoning are reaching both economic limits and the limits of villagers’ tolerance.
隐藏在这一划时代决定背后的是一场潜在危机。中国的成功一直是由基于廉价劳动力的廉价出口、廉价银行资金支持的国有企业建设的基础设施以及土地销售提供资金的政府预算推动的。但劳动力不再廉价、连接主要城市的道路建设已经变成了在小城镇建设大型购物城，基于重新规划的土地销售已经达到了经济和村民容忍力的双重极限。