研究生英语口语考试第四单元

Unit IV 7. The ways to optimize human capital investment in China
I think there are several ways to optimize human capital investment in China: The first way is to spend more on human capital investment. In China, the human capital investment proportion is lower than the standard of the world. So our government should spend more money on investment in schooling, skill training and educational infrastructure. The second way is the evenly allocation of the educational funds. In our country, schooling is mostly funded at the local level, rich provinces tend to pay more for human capital per capita than poor provinces do. The regional variation is fairly clear eventually. So the central government should allocate the educational funds to achieve evenly allocation. The last way to optimize human capital is to free up labor markets for human capital. A free market could promote skill formation. The wage of skill worker is one of the form to show the return on human capital investment. If the individuals get the fruits of their skilled labor, they will pay for skill training by themselves.
8. Human capital and physical capital, their common features, differen ces and relationships
Common feature:
First, human capital and physical capital are both very valuable kinds of c apital. They can create enormous value, and promote the economic gro wth, if the government makes a balanced investment between human ca
pital and physical capital.
Second, like the physical capital, human capital is costly to acquire. Only t he governments spend money on education, skill training or machine, ca n the human capital or physical capital do better to create benefit. Third, human capital needs time to pay off, like physical capital. It takes ti me to transform human capital and physical capital into productivity. On ce the transition succeeds, there are many skilled workers and machines to produce. And the economy will grow fast. Differences:
There are several differences between human capital and physical capital . First, the return of humancapital is higher than physical capital’s. The skilled workers can operate the machines to create more value. Se cond, the time that human capital needs to pay off is longer than that of physical. It takes long time to train the skills of workers. Relationships:
Both human capital and physical capital are the parts of promoting econ omic development. Only the balanced investment between human capit al and physical capital can promote the highest rate of growth.
9. Special significance of human capital to China from perspectives of C hinese unique position, development strategy and opportunities Firstly,with the reform and opening-up policy, China is changing, and its l abor markets, capital markets are changing along with the rest of the wo rld. Numerous empirical (experience)studies demonstrate that more edu
cated people and better skilled people better adapt to change. They enh ance industries and regions in respond to new opportunities. More educ ated people are better able to absorb new ideas, adopt foreign technolo gies, improve local technologies, and understand and apply knowledge fr om outside China to local situations.
Secondly, as China enters world markets, it has access to newer forms of technology and organizational arrangements. By the world standards, th e percentage of college educated workers is still low so that there need more educational infrastructure for modern growth. While enrollment ra tes are increasing, there is still much room for improvement. So the gove rnment needs to spend more on human capital investment.
Finally,when the new technology is brought into China by investment in p hysical capital, there need more skilled workers to operate it. The skilled workers can take a good advantage of modern technology. Even though r ecent trends toward promoting
education are favorable, there is still a huge gap to close. So the government needs to spend more on human capital investment.。