The International Experience and Implication on How to Stimulate Domestic Demand in Big Country Economy

The domestic demand and foreign demand are the two important forces for driving the national economic growth.The feature of big country economy of China determines that China's economic growth pattern should take domestic demand as the driving forces.The domestic-demand-oriented pattern of development in big country economy has been argued by some classic economic literatures;this has also been proved by experience of such economic advanced countries as the U.S.A,Japan,Germany,England,France,Italy and Canada and such emerging countries as Brazil,Russia and India.After the financial crisis,China's economic development which highly depended on foreign demand before is now facing severe challenges.As a big developing country with huge domestic market absorption capacity,to improve the capacity for defending external impact and enhance the stability and sustainability,China should not only pay more attention to foreign trade,but also pay more attention to expanding domestic demand,especially the consumption demand,and promote the transformation of economic growth pattern from depending on investment and export to depending on the coordination of consumption,investment and export by adjusting the relationship between domestic demand and foreign demand and the relationship between investment and consumption.