Study Of The Consolidated Debt Of The State

On the whole, the total debts of our country include recessive and apparent debts. Among them, the recessive debts are historical debts, which under the nationalist statism, our country should pay for staffs in state- owned enterprise, but unpaid in another words. The recessive debts were brought by integrative deduction in the plan economic way. mainly including staff member抯 old-aged pension debts, unemployed relief fund, basically medical fund and the costs which the government separate enterprises run society ? Apparent debts include national debts (government bonds) that our government sells to residents and savings that state banks absorbed from residents. State debts have been established by three ways: In the first place, recessive debts have not paid and no enough money to pay for, In other words, In the long period of the planned system, government adopted accounting on the cash basis, and haven抰 reserve fund. While turning to market economic system, government can抰 absolutely shirk from the duty of worker抯 old age pension and basically medical fund. Therefore, recessive debt, the old system handing down problem, should be taken and dealt with in particular way by the government. This is the cost for which the ,1 government must pay in the course of economic system change. Secondly, among the apparent debts, the largely parts of resident savings were loaned to state-owned enterprises by state banks, the huge unhealthy assets of State- owned enterprise will make state owned banksL?loan cross the. Rubicon, the- duty of the state-owned enterprise to pay for the debts will be changed to our country抯 duty by state banks, then form the National debts of the inhabitants.Thirdly, being the core means of actively financial policy, states debts are increased rapidly and make a high percentage of the GDP and of states incomes, then a high paying risk of finance. When the debts of the three dimensions are added up, It will make a risk of states debts, of finance, of economy and politics. So, based on this theory of stats debts and the scale of real debts, proper judgment should be made. Based on the judgment of apparent and recessive risk of states debts, the core problems are economical system change and innovation in china. The basic policies to resolve the risk of states debts are that to establish public finance, to constitute financial management of states owned estate and to set up social security. Apparently, the way of probing problems should go along the historical logic of the development of states debts. My thesis is doing that.