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| Besetting Sin of Chines Economy: Spatial Mismatch |
| LU Ming1,2 |
1.Antai Economics and Management School, Shanghai Jiaotong University, Shanghai, 200030;
2.China Institute for Urban Governance, Shanghai Jiaotong University, Shanghai, 200030 |
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Abstract In the process of reform and opening up and against the complex background of current global economy, China has the dual goals of economic growth and regional balance. From the perspective of “space political economics”, the besetting sin for the plunge of China's economic growth is the spatial mismatch of resources: the administrative power hinders the free flow of production factors (labor, land, capital), and the government single-mindedly pursues balanced distribution among regions, which results in lower efficiency of resource allocation and slower economic growth. However, “balanced” development among regions is not equal to “balanced distribution” of economy and population. Instead, we should focus on the balanced development in terms of per capita GDP. In the future, to attach equal importance to integration, development and balance in Chinese economy, we must break the restriction of administrative power on the flow of production factors, give full play to the decisive role of the market in resource allocation, promote integration of domestic markets and cross-regional redistribution of production factors, and make regional economic development “move towards balance in the process of agglomeration”. Only in this way can we give full play to our advantages as a big country and achieve high-quality development.
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Received: 15 November 2018
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2019, Vol. 36 
