Ask the economic content of the two sessions to speak. It is ok to talk about the hot spots of the economy at the two sessions. . . Urgent! ! !

Today, I am very happy to come to XX to talk about a relatively depressing topic and a perspective on current economic hotspots. As long as we talk about current economic hotspots, it's all bad news. So, please think about it, what is the biggest crisis you are facing? I can tell you that China's 30 years of reform and opening up have been basically successful, especially in the past 10 years. As a result of our high economic development, a large number of entrepreneurs present here have been born. But you know what? Because your environment is too smooth and China's economic growth is too successful, you entrepreneurs have to work hard, and none of the government officials and entrepreneurs in China have experienced the imminent economic crisis. Since last night, several entrepreneurs have asked me a word. Professor Lang, see what other potential industries I want to invest in. I just want to say three words: you are crazy, you don't know anything. You take life too simply. How did you succeed in the past? You used to be successful in following the trend of reform. I tell you, at this moment today, this is something that every entrepreneur here is reflecting on. What is our future? Please have a look at the data provided today. The American stock market has been falling since the beginning of the year. Billions of dollars have evaporated. What is the concept of $8.5 trillion? This is the total GDP of China in 2005, 2006 and 2007. A country's stock market has fallen so much, which symbolizes a terrible follow-up, that is, the continuous Great Depression is coming.

Although there was a so-called bubble in China's stock market in the past, I regret to tell you that China's stock market has fallen by more than 70%, which is similar to the US stock market crash 1929. What is the significance of this stock market crash? Why do I dare to predict the China stock market crash at the end of last year? Just in May this year, I was on Phoenix TV's Three Strings. I appeal to national investors not to have any illusions about the Olympic Games, and the stock price will definitely continue to fall. This is not a simple question of whether I have the courage to speak. Why do I say that? Of course, you know I am right. China's share price moves against the world trend. What is the world trend? That is, any country hosting the Olympic Games has experienced a sharp rise before the Olympic Games and a sharp decline after the Olympic Games. I want to say that China's share price will fall, because I saw the economic crisis. Many people say that Professor Lang is controversial, and I say that you are wrong, but I never did, because what I said will come true in the end.

Please think about it, what impact will the subprime mortgage crisis in the world economy have on you? I'll put this topic on the shelf at the moment. I won't tell you yet. What I can tell you is that what is even more frightening is that before the crisis came, there was a crisis in our country, that is, the stock market bubble and the property market bubble from the year before last. Do you think this bubble phenomenon is a relatively successful economic development in China? Do you think this is because we China people are richer? So do you have more spare money for stock trading? You're kidding! At the beginning of last year, I made another controversial remark. Many scholars are unhappy. I said that the essence of the stock market bubble and the property market bubble is not that the economy is good, that we are rich, but that the manufacturing industry is shining. What do you mean? The investment environment faced by manufacturing entrepreneurs in China began to deteriorate rapidly. So, why do many entrepreneurs take out the money that should have been invested in manufacturing instead of investing? Therefore, a large number of corporate funds have entered the stock market and the property market, which is the real reason for the property market bubble and the stock market bubble.

In my opinion, the next step should be the massive closure of the manufacturing industry. In order to put my point of view on record at that time, I would never play Monday morning quarterback. I wrote an article called Eight Crises. After coming out, the hit rate exceeded 100 million. Although it was a sensation, it has never been taken seriously like my life, because everyone likes experts and scholars to tell 18 thousand points, and they don't like to hear me tell the truth. Unfortunately, this year's.

At this moment, a Guangdong media named Southern People Weekly interviewed me, especially after I wrote about the Eight Crises. I still remember him saying that domestic experts and scholars said that the stock market bubble, the property market bubble and the excessive expansion were all due to excess liquidity. Lang Xianping disagreed, and Lang Xianping said that it should be manufacturing. If Lang Xianping is right, then experts and scholars all over the country are wrong. Therefore, the macro-control implemented by the government not only failed to solve the problem, but also made it worse. This was 10 years ago. I'm a little shy today. I'm embarrassed to tell you. It turns out that I am the only correct scholar in the country, and everything else is wrong.

Otherwise, you are so busy, why are you listening to my speech here? So think about it, what is excess liquidity? Chinese scholars actually believe that the property market bubble, stock market bubble and inflation are all simple excess liquidity. What is excess liquidity? That is, we have too much money in our hands, buy stocks, and the stock market bubbles; Buying a house, the property market bubble; Buying products, inflation, so an academic term called excess liquidity can simply explain all the phenomena that happened in 2007. Then, the macro-control policy implemented by our government is actually to recover liquidity. The method is to raise interest rates, bank interest rates and deposit reserve ratio. By the end of the year, the Economic Work Conference will further intensify its work and implement macro-control. Then I asked all the guests to think about it. Is it possible that all the scholars in China are wrong? Could excess liquidity be wrong? Is it possible that the macro-control implemented because of excess liquidity is also wrong? Here, unfortunately, I tell you, it's all wrong. That is why our manufacturing industry is so passive. China's economy is not excess liquidity at all, which is nonsense. The resulting policy misleading has made our government and enterprises pay a heavy price. Moreover, our scholars especially like to whitewash the peace, please the leaders and make our economy worse.

Today, based on the premise of all this, I have been talking to you from home and abroad to let you know clearly what is wrong with China's economy and why there is a bubble. In fact, the bubble phenomenon is only a superficial phenomenon, and the real reason is that there has been a major crisis in our entire economic development. Please think about it, how did our annual 10% economic growth come from? Many investors ask me this question. Professor Lang, you see our economic growth is so successful, with an annual growth rate of 10%. Our stock market does not reflect the optimism of our economic growth. I said you were wrong. China's stock market truly reflects the essential problems of our economy. The annual growth rate of 10% you see is problematic. What's the problem? In other words, our whole economic growth model is wrong. How do we stimulate economic growth? We are driven by reinforced concrete, that is to say, when you go to various regions, the greening and bridges built by local governments have boosted the economic growth of China. So how much are these parts? These sectors account for about 30% of the total economy, which means that the sectors related to the local government's promotion of GDP projects have boosted economic growth. Then these sectors are indeed overheated sectors in China's economy.

What about other private manufacturing industries? It's basically super cool. These departments only account for about 30%. Which departments are they? Take last year as an example, including real estate, performance projects, image projects, large state-owned enterprises, other financing banks and securities companies. Do you know what the growth rate of these departments was last year? For example, it exceeded 30% last year. It accounts for 30% of the total, and its cost rate exceeds 30%. On the basis of equality, China's national economic growth should be around 10%, understand? Our private economy has made very little contribution to the country.

Because we have invested a lot of resources in infrastructure construction for so many years, infrastructure construction, that is, GDP project construction, has promoted the economic development in the past 10 years. Then, on the surface, it seems that China has achieved brilliant GDP, but in fact, we have paid a heavy price for it. Let me give you an example. How much is the charge? This development model makes the composition of China's GDP very deformed and distorted. We compare our GDP with Europe, America, Japan and other countries. In those countries, consumer demand is the main driving force, that is, when I want to drink mineral water, you produce mineral water, and when I want to play the piano, you produce mobile phones, which is normal. So 70% is consumption. We are just the opposite. Our consumption is only 35%, only half that of others. What is our GDP? What you see outside is reinforced concrete, accounting for more than 50%, less than 20% in Europe and America.

Don't you understand what terrible results this economy will lead to? It is because our domestic consumption is too small, resulting in a lot of overcapacity. We can't spend too much. How is our overcapacity caused? We sacrificed our environment, destroyed our resources and exploited our workers, so the production capacity expanded greatly, and to what extent? To the point where we ordinary people can't consume, a large number of products are produced, and we can earn foreign exchange by exporting only 30%. Selling products produced by excess capacity abroad is euphemistically called exporting to earn foreign exchange. In fact, a time bomb was planted and exploded in 2008. What caused the bomb? Think about it, we only consume 30% of the production capacity, so many products have to be exported to other countries for consumption, which not only damages the environment and exploits workers, but also earns a lot of dollars in foreign exchange, breaking 1 trillion in 2006,10.5 trillion in 2007,10.8 trillion in 2008, and now breaking 650 trillion. Due to the massive accumulation of foreign exchange, our deformed economy, which passively earns foreign exchange through exports, has paid a heavy price. Due to the continuous appreciation of the renminbi, these export-oriented private economies have been hit.