The 126th period economic salon was held by Shantou University Business Scholl in the Science Lecture Hall at 7:40 to 9:40 pm on September 10th, 2014. The economic salon invited Mr. Ding Anhua as a guest speaker.
Mr. Ding graduated from Business Administration School, South China University of Technology in 1989. Mr. Ding has gotten the qualification of Canadian Investment Manager. At present, he serves as a vice president in China Merchants Securities Co., Ltd.
In this economic salon, Mr. Ding gave all the students a wonderful speech named Seeking the Source of Long-run Economic Growth.
Mr. Ding pointed out that there are three main factors effecting the motivation of an economy’s long-term growth. They are population, technological change and the mode of economic development.
First, as for the population, there are pessimistic and optimistic viewpoints. Malthus believes that the excessive population growth is harmful to the economic development. But recently, the development of technology is changing people's life. People’s unlimited creativity made us become optimistic toward population. But some people insist the neutral opinion that the growth of economy lies on division of labor. However, China faces the question that age group of 15 to 65 growth stalls from 2013 and the demographic dividend inflection point happens in 2015.Thus, the increase of dependency ratio put much burden on the working population.
Second, innovation is the important factor for economic development. Mr. Ding also mentioned that at present the rapid development of some industries in China such as mobile communication industry can’t be separated from innovation. Mr. Ding encouraged the students to constantly strive toward stronger innovation ability in China to promote the economy for long-term growth.
Third, talking of the mode of economic, Mr. Ding pointed out that the economic development in China cannot do without the relationship between government and market. As a Nobel winner mentioned that in the economic pattern, the market plays a decisive role so the discretionary power of the government should be restricted. To solve this key problem, a corresponding political system needs to be established to let the market really play its role.
Finally, Mr. Ding summed up the three factors and answer students questions. Meanwhile, Mr. Ding gave a brief talk about the bull market and bear market in Sino-US stock market as well as Germany's economic model. He pointed out that the role of the market in China still need to be strengthened.
At the end of the salon, Lv Yuan, the dean of Business School, gave Mr. Ding Chaoshan Paper-cut as a present to thank his wonderful speech. The 126th period economic salon came to a successful close.