Likewise, while policies that encourage firms to increase wages will raise household income and domestic consumption, wage increases can erode export competitiveness and choke off inflows of foreign direct investment. With rebalancing policies alone unlikely to increase average output growth substantially, enhancing productivity is crucial to China’s long-term prosperity.
随着中国从投资和出口拉动型增长转向基于国内消费和服务德尔更加可持续的增长模式，这些提高生产率的措施是至关重要的。重新配置资源，使其从出口导向型行业流向服务业可能导致生产率不可逆转地下降。类似地，鼓励企业提高工资的政策将增加家庭收入和国内消费，但涨工资也可能侵蚀出口竞争力，阻碍外国直接投资的涌入。光靠再平衡政策无法大幅提高平均产出增长率，因此，对于中国的长期前景，强化生产率至关重要。