With the impact of this year’s epidemic, the global economy has been hit hard. Unemployment rates in many countries have risen sharply, especially in developed countries such as the United States. Under such circumstances, many countries have chosen to provide subsidies to the people to ensure The normal life of the people can also be used to stimulate consumption and sustain economic development.
As a global economic power, the United States has issued cash subsidies many times during the epidemic, and the subsidy amount is as high as trillions of dollars, and these amounts are distributed to the people to make consumption and stimulate the economy The restart.
And because my country has restarted the economy, many consumer vouchers have been issued in the past few months. For example, many places across the country such as Chongqing, Beijing, Hunan, and Hebei have issued various consumer vouchers. In this state, many netizens Doubt, why doesn't our country give out cash like foreign countries?
In particular, many foreign countries issue cash directly. Why does my country issue consumer vouchers? In fact, cash distribution is not suitable for our country. The consumption level in foreign countries is different from our country. When the people in our country get cash, they usually deposit it directly, which cannot stimulate consumer demand and is unlikely to promote economic growth. But foreign countries are different. Many countries generally consume overdrafts. Therefore, many foreigners will continue to spend more when they are generally issuing cash, which will further develop the economy.
However, this has also caused some controversy. Many people believe that there is not much income to issue consumer vouchers and dare not consume, so it is better to directly issue cash to be more practical.
However, the fact that China does not find gold does not mean that China does not find gold. According to reports, the Hong Kong Special Administrative Region Government stated on the 8th of this month that it will distribute cash of HK$10,000 per person to all residents of Hong Kong over the age of 18, which is about 9106.6 yuan, and the registration time for this distribution starts from June 21st, and ends on December 31st, 2021, which is the end of next year. This time span is very long, more than a year, and it will involve approximately There are 7 million people in Hong Kong, and if the registration time is fast enough, they can receive the cash subsidy on July 8 at the earliest next month.
So what should Hong Kong residents do if they want to get this subsidy quickly? Here is to tell the people in Hong Kong that if you want to receive cash subsidies, you must first go to the bank to register, so that the bank will transfer the money to your bank account, and the people in Hong Kong are different from foreign countries and involve fewer people. So the time for the funds to reach the account is also very fast.
And this is the reason why there is no cash distribution in the Mainland. Because of the large population base, it is not easy to implement this policy. The only choice is to issue consumer vouchers to allow those in need to consume and stimulate economic development. Why does
implement the same policy of issuing cash in Hong Kong as abroad? It is also because Hong Kong’s economy has been in line with the economic level of developed countries, and Hong Kong is a place with a developed economy but a small population base, so issuing cash will further stimulate the economy Development, so this policy was implemented.
The reason why the mainland is issuing consumer vouchers and not issuing cash is also because it will allow people who need to buy things and will reduce their expenses, and the factors that Chinese people have raised for a long time are that they can save money when they have money. It will not stimulate consumption, so it makes sense to choose to issue consumer vouchers.
And large-scale cash distribution has its downsides. The large-scale distribution of cash in the United States has led to higher and higher debts, and the purchasing power of the US dollar is also further declining. If such a large-scale distribution continues, it will also devalue the US dollar The rate of increase is getting faster and faster, even leading to inflation, and the national economy will decline rapidly, so there are reasons why the mainland does not issue cash.
my country’s issuance of cash and consumer vouchers is actually aimed at the needs of different groups of people. This will not only play a role in economic stimulus, but also enable those with money to increase the consumption power of the market, so the measures are different. That's it.
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