Listening to Feng Xiaochen's talk about South America, Qi Rui Cang's face changed a little, he was silent for a while, and said: "Now the Western economic community talks about South America, but also sigh."As you know, South America is in the economic circles, but the model of free economy, because of the economic miracle of South America, the birth of many high-level academic papers, my tutor in the United States has carefully studied South America, the South American system has always been full of praise.

“What now?”Feng Xiaochen asked with schaun joy.

Qirek sang blankly looked at him and said, "Now he has not written an article for more than a year, I have followed him to run through several times in South America, and the scene I have seen is still very prosperous, but what we can do with our line, who can just look at the appearance, in fact, South American countries are now debt-to-country, and wait for an opportunity, it is estimated that it will collapse completely."

“No, not?”Yu Li, who has become a deputy minister in the Women's Federation, interjected with greatness, that her vice minister is not a deputy ministerial cadre as usual, but only a deputy bureau-level cadre, but her age is also a good position.Her current job is on women's employment, and she has also visited South America, which is very envious of the economy.Now that Feng Xiaochen and Qi Ruikang have said that South America is facing a crisis, she can't believe it.

Ding Shiquan said: "Old Qi and Xiao Feng are right, I have also studied the economic data of South America, countries in the past few years over-debt, and borrowed foreign debt did not form a local production capacity, the result is that they can not afford, everyone is gambling South America when the financial crisis will occur."

“Don’t talk about people.”Xie Keli, who had not been silent, spoke, he looked at Feng Xiaochen and said, "Little Feng, I will give you a wind, the 100 million yuan discount loan you applied for is estimated to be yellow."The state finance is under great pressure now, and in many places, not only the salaries of primary and secondary school teachers cannot be paid out, but even the staff of the administrative organs owe a few months of wages, and if the state cannot provide some subsidies, the work in these places will stagnate.The leadership instructions, stability is overwhelming, and the thing you have proposed to establish a limit manufacturing base can only be slowed down.”

Xie Keli graduated from the Ministry of Finance after graduation, and now has risen to the deputy director level, with some power on his hands.He gave Feng Xiaochen through this wind, not a violation of the regulations, but belongs to a preventive injection, so that the equipment industry company is prepared.A few years ago, Feng Xiaochen visited many large-scale manufacturing enterprises and called on everyone to raise funds to build an extreme manufacturing base specializing in the production of large and ultra-heavy parts.There are many enterprises responding to the response, but many companies can not take real money for a while, Feng Xiaochen then put the idea to the financial side, hoping that the financial can provide some discount, in order to equip the industrial company from the bank to borrow a sum of money, to deal with the early investment of the base.

The report of the equipment industry company was sent to the Ministry of Finance, but it was approved by several leaders, and it was only after the Spring Festival that it would start.But the plan can never keep up with the changes, the Ministry of Finance at the end of the year, a stock of the Ministry of Finance, found that this year's fiscal revenue has not met expectations, while the budget reported by various departments has risen a lot, and the deficit is outrageous.In such cases, the head of the ministry can only instruct to minimize those unnecessary expenditures and maintain stability.The limit manufacturing base is a project with a long input period, and there is no return in the short term, and it is naturally included in the compressed list.

The first half of the 1990s was the most financially strapped.At the beginning of the reform and opening up, the vast majority of enterprises were state-owned enterprises, which were able to turn over profits to the treasury, and the proportion of fiscal revenue to GDP reached more than 30%.Since the reform, with the changes in the fiscal and taxation system, state-owned enterprises have changed from paying profits to paying taxes, and a considerable part of the profits have been intercepted in enterprises.In addition, due to the rise of township enterprises and private enterprises, state-owned enterprises have less and less revenue in the entire economy, and non-public-owned enterprises do not have to turn over profits, and taxes can also escape, and the proportion of the state's fiscal revenue to GDP has shown a cliff-like decline.

By 1992, the share of state revenue in GDP had fallen to 13.1 per cent, and by 1995 it had fallen to 10.7 per cent.Of course, even 13.1% in 1992 was much more in absolute terms than in 1978.However, the amount of financial expenditure has also increased.With the economy in the economy, can the wages of employees not increase?In the past two years, prices have shown an upward trend again, and if wages do not rise with them, civil servants, doctors, police, teachers, scientists, etc. will only drink the wind.

Of course, what is said here is only the concept of budget income, and in the case that the state can't get the money, all units are actively trying to create a large amount of "extrabudgetary income" to subsidize employees and improve the working environment.Some hospitals began to run "expert outpatient clinics" to make money from the rich; some schools began to run various training courses to send the best teachers to class in order to achieve the so-called "income generation".

This period of history, there are many criticisms in the future, but standing on the threshold of 1993, even Feng Xiaochen, who has two memories, can not think of any other way to change the situation.In fact, he is engaged in the equipment industry company, but also other units of the income-generating model, such as from overseas to get the project subcontracted to the domestic enterprises, charge a certain commission, this is definitely not the right way.However, if this is not done, the equipment industry company is afraid that it will be closed long ago, and there are local members such as the Dingnan Planning Commission.

Hearing the news of Xie Keli, Feng Xiaochen was silent for a moment and said: "In fact, we don't want much, that is, to provide some discount, 100 million yuan of funds, we are ready to raise funds from the bank."About the matter of providing discount loans for the equipment industry, but also the top leader nodded, you can not find a way to squeeze a squeeze?"

Xie Keli smiled, “Xiaof Feng, if it is just your 100 million yuan discount, we can take it out anyway, and the interest rate for a year is millions.”But the question now is that all units are applying for discount loans, once they give you an opening, others want the same policy, what do we do?"

Feng Xiaochen is speechless, the system is not to suffer from widows and uneven, the financials to the equipment industry company discount, others will naturally require the same treatment.Equipment industry companies do not have a special aura, why should people look at you for your benefit but do not say?

"Haha, look, we were still laughing at South America, now it's our turn to joke ourselves?"The Ministry of Finance, even a few million can not take out, in case of a financial storm, will we also face financial bankruptcy?"Qian Rui said with a smile.Just now, he was run high enough by Feng Xiaochen and other three people, and now he could catch the opportunity to renege on his lips.

Xie Keli looked at several classmates and lowered his voice and said, “Old Qi’s prediction is not unreasonable.”At present, the efficiency of state-owned enterprises is very poor, the loss is large to 50%, and the fiscal revenue is greatly affected.I am here to reveal a news, everyone do not go out to say that next year the national fiscal pressure is very large, the additional currency is certain, but the scale is not sure.We have calculated that, in the best case, inflation is estimated to be above 10 per cent, and if we are pessimistic, 15 per cent will not necessarily stop.”

“Is it so serious?”Yu Li is blind again.She is now engaged in women's work, she does not know much about the macroeconomy, and a lot of information comes from the news, so she is still very optimistic.But others are different, Wang Zhenbin is the Planning Commission; Feng Xiaochen has a large network, coupled with the perspective of a traversal; Ding Shiguan is engaged in economic research, has participated in many high-level internal meetings, these rumors have been heard countless times.As for Qi Ruizang, he looks at foreign information, and foreign estimates of China's fiscal situation are far more pessimistic than Xie Keli said, and the collapse theory is basically a consensus.

"I'm not that pessimistic."After a short silence, Feng Xiaochen said: "The situation in our country and Latin America is not the same, the main difference is that our industry is basically in our own hands, unlike Latin America, which is completely controlled by foreign countries."State-owned enterprises are currently in the period of adjustment of internal management mechanisms, and large-scale losses are inevitable.But before the state-owned enterprises are in trouble, our township enterprises have emerged, enough to support half of the country.”

Feng Xiaochen's statement is actually a summary of the Chinese economy in the 1990s.The same is the transition from a planned economy to a market economy, and the state-owned enterprises of the former Soviet Union all collapsed overnight, prices soared, unemployment was everywhere, and fiscal embarrassment was difficult.By the early 1990s, these non-state-owned economies had acquired strong strength and could support the burden of absorbing employment and enriching the fiscal burden.

From 1990 to 1998, the number of employed people in state-owned enterprises fell by tens of millions, which is often said in the future to "30 million layoffs", while at the same time, due to the absorption of private enterprises, the employment of the second and third industries in the country increased by as much as 90 million.The combination of the two is equivalent to the private economy receiving 120 million jobs, so that China has not repeated the old road of the economic collapse of the former Soviet Union.

"Domestic township enterprises, not all of them are doing needles and dying, what can they support?"He said disdainfully.

At the same time, the five students who stayed in the country turned their eyes to Qirukang, as if they were looking at a turf from the countryside.Well, even if you come back from Chicago, can you see how shallow?Domestic township enterprises did live very difficult in the 1980s, but after entering the 1990s, it is far from Wu Xia Ameng.Those who have "big brother" in the street are holding the "big brother" in their pockets, which is much more powerful than their house level and deputy director level, and Qi Ruicang actually said that people are still alive.

“Isn’t that so?This is what foreign journals are written in this way...” Qi Ruizang also knew that he might be mistaken, but he couldn’t help but be embarrassed.

Ding Shikuan sat next to Qirui's warehouse, reached out and patted Qi Ruizang's arm, smiled and said, "Old Qi, you are old yellow."Foreign journals, I have also seen, three-part hearsay, seven points preconceived, is not enough to reflect the real situation in China.To study the question of China, you must come to China, and when you come back, you will not go again?”