Ping said that the demographic changes, 'learning by doing' effect of diminishing the contribution of technological progress, and the end of large-scale industrialization stage, forcing China's economic growth into the structural slowdown orbit. 'Thirteen Five' period, affected by structural factors dynamic deceleration trend of economic growth will be more significant. 'By the calculation of labor productivity factor decomposition and the production function, get 'Thirteen Five' period of China's economic potential growth rate is maintained at approximately 6% of the population here implies, labor productivity, and so on a number of assumptions distribution effect. In fact, from the Chinese economy in recent years, the performance, in many cases better than our assumptions seem serious decline in investment growth in the real economy due to low returns, innovation excessive congestion caused moderate human capital and poor overall efficiency of the service sector, which have may exacerbate structural economic slowdown. 'Zhang Ping said. Former vice president of China Academy of Social Sciences, said Li Yang, director of the Department of Economics, due to lack of technical innovation, American economist Paul Samuelson believes that the global economy has been plunged into prolonged stagnation, there are three facts: First, the global economy has so far Not better, though the US unemployment rate fell, but still have not seen interest rates; second, major national labor participation rate fell, first emerged in Japan 'silver tide' and then in Europe, the United States in the past by immigrants holding labor force participation rate, and now look to die, China is still not very wealthy, aging population has already begun; the third, real interest rates will always be in negative territory, citing the lack of economic growth, the expansion can only rely on the policy, then the risk of fiscal policy fiscal cliff , monetary policy effect is unknown, only know the balance sheet expanded several times, but the money is not into the real economy. However, some experts whether economic growth 'Thirteen Five' period will be less than 6.5% put forward different views. Vice Minister of the Ministry of Social Development Research Center of the State Council Li Jianwei believes that not only examine issues of economic growth in terms of production, but also with changes in the demand end. A lot of excess capacity exists shows that China is no shortage of supply capacity, but largely ineffective. Combined with demand-side perspective, but under the current economic structure, these supply capacity can not bring growth. Moreover
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