The Objectives And Strategies Of China’s Economic Restructuring In Post-crisis Era

The course of world economic development proves, a country’s economic vitality is itseconomic structure, which is along with the continuation of the country’s development. In theface of an increasingly competitive international economic situation, any country must adjustthe structure which is related to economic development to meet the national developmentstrategy, as well as the external economic environment and the internal economic system state.It can be said that the structural analysis and structural adjustment has become a key factor insustainable development of countries in the uncertain external environment. Structuraladjustment of a country or region is always the embodiment of the national developmentstrategy, as well as the core of economic policy, and the prerequisite for economic take-off.In the backdrop of the global financial crisis, China’s economic growth has been shockedlargely, and showed cyclical fluctuations. From the surface of the impaction of the globalfinancial crisis impact on countries is the financial system’s problems, but essentially is thestructural imbalances of countries, which reflects the world-wide excess capacity anddemonstrated the serious internal structural imbalances and internal and external structuralimbalances. Imbalance in the internal structure reflects the imbalance in industrial structure,the structural imbalance in urban and rural areas, investment and consumption, structuralimbalances and distribution of structural imbalance. The internal and external economicimbalances, reflects the inside and outside the required structural imbalance, as well as theimbalance in import and export structure. Although China timely take in the central macromeasures, actively respond to the crisis, and make efforts to achieve economic recovery,leading the world economy entered a post-crisis era. But this recovery is the recovery ofpolicy stimulus, which has a lot of uncertainty and imbalance. Government investmentdemand has not conversed to market-driven demand, and did not solve the fundamentalpattern of economic growth in China. If the expansionary policies are out, the economy islikely to have large fluctuations. Therefore, to make China’s economy recovery in the realsense, to achieve sustainable economic development, to make the policy stimulating recoveryturned to endogenous recovery, internal economic structural imbalances, and internal andexternal structure imbalances must be solved.Start from the analysis of the internal economic structure of China’s economic, accordingto the transmission mechanism of the financial crisis on China’s macro-economic and micro-economic, the fragility of the economic system under the support of the economic structurein the era of financial crisis will be analyzed, in order to identify the economic structure problems. Finally the goal of China’s economic structural adjustment will be proposed, aswell as the economic restructuring strategy will be given, for the country to ensure thelong-term economic stability, and provide a theoretical basis for policy-makers to follow. Themain work and innovation are as follows:(1)Build the structure support China’s economic system dynamics modelOn the basis of analyzing the economic structure of China’s current economic growth,according to the Cobb-Douglas production function, dig out the main economic structuralfactors of China. Input-output model is used to analyze the coupling mechanism of theeconomic structure. The system dynamics model of structural support for China’s economicsystem is built, which can analyze the economic system performance, through the industrialstructure, as well as the relationship of domestic demand and external demand, the initialdistribution. These relationships corresponds to input and output analysis, expenditure andincome analysis, which can reflect the structural coupling in China’s economic system andmode of operation, and can provide methods and models for the designation of the economicpolicy and practice.（2） China’s economic system simulation in post-crisis eraThrough the Analysis of the international financial crisis, identify the inherent mechanismof impact crisis on China’s economy. Establish the mathematical model to dig out the maineconomic indicators that impact China’s economic. On this basis, China’s economic structuralsupport system dynamics model is adjusted, to simulate the brittleness of China’s economicsystem in the post-financial crisis era, as well as the expansionary investment policy onlong-term growth of China’s economic system, which can effectively reflect China’s economicgrowth in the uncertainty environment on behalf of constraints of current economic structure,as well as the need for economic restructuring.（3） Propose the economic restructuring objectives to promote stable and sustainabledevelopment of China’s rapid economicAccording to the fundamental objective of China’s economic development, such as GDP,the economic structure be designed to support faster economic growth in conditions that donot rely on external demand growth, and a multi-objective programming model of theeconomic structural adjustment is built. Use of tolerance hierarchical sequence weightingmethod of multi-objective planning algorithm, according to the strategic goals of China’seconomic development, find the best industrial restructuring objectives， find the bestexpenditure GDP restructuring objectives and the best income restructuring objectives toachieve steady economic growth, which can provide theoretical support for China’s economic structural adjustment. On this basis, in accordance with the objectives of the economicstructural adjustment, take the initial variable into the system dynamics model to simulate theprocess of which China’s economic structure gradually become the target structure, and thetrend of various economic indicators, as well as China’s economic system.operation in China’seconomic structural adjustment process.（4） The strategy of China’s economic structural adjustment in the post financial crisiseraAdjustment of economic structure relies on social and economic policies. Through thein-depth analysis of factors that affect economic structure, taking the current effects andlong-term goal into account, establish interpretative structural modeling of the impact offactors on economic structure. According to the model, the various economic factors andeconomic restructuring are linked. They are institutional and system protection layer strategy,the elements support layer strategy, micro-control layer strategies, which can help countries todevelop China’s economic structural adjustment strategy to stabilize the economicdevelopment trend, and promote the development of the economy toward reasonabledirection.