Chinese youth overqualified for civil servant jobs: Nobel laureate  

诺奖得主：中国年轻人做公务员是“严重浪费”

昨日，2013年诺贝尔奖北京论坛继续举行，诺贝尔经济学奖得主罗伯特·蒙代尔等人分别做了货币及汇率政策，新材料、新能源与人类发展等方面的报告。"每个国家都需要公务员，但政府机构不是给年轻人的，这是低估了他们的能力，是大材小用，也浪费了社会花在他们身上的教育成本。”菲尔普斯认为。[查看全文]

(ECNS) -- Well-educated young people in China are wasting their talent on civil servant positions, Edmund Phelps, the 2006 Noble Prize-winning economist, said Wednesday at the Nobel Laureates Beijing Forum 2013.

"Every country certainly needs public officials. However, these positions are not expecting young talents. We would like to see bright young men tell their moms that they are going to start businesses in the west, the north, or the south of China," Phelps added.

"China has narrowed the technical gap with other countries and made great success in the short term. However, there is no creativity in factories,. Phelps said.

China is still in the process of urbanization and technology transfer, and some companies are still absorbing new techniques, so businesses are still growing. Infrastructure construction is propelling economic development, and that.s why China.s economic growth is still at 7 percent, he said.

.But it cannot last. Technologies brought from other countries will be used up someday. China must make innovations on its own, and only innovation can promote huge productivity,. Phelps added.

Other Nobel Prize winners in economics talked about housing prices, currency, exchange rate policies and human development.

The 1999 Nobel laureate Robert Mundell said housing prices in Beijing are unlikely to drop substantially because demand is so strong.

He also said China's economy is sure to grow in the next 20 years, and the full convertibility of the yuan will be beneficial to both China and the rest of the world.

James Mirrlees, a 1996 Nobel laureate, said China should reduce tariff rates and raise the threshold for personal income tax.

He said China's substantial economy still has great potential in spite of reports by some foreign media that its growth might decrease to 3 percent. He also expects that the Chinese government will push out another stimulus plan focused on infrastructure and income growth.

The annual forum opened on Tuesday and lasts till Thursday.