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All posts by AEF - 31. page

Using Marxism to Analyze the U.S. Financial Crisis

[Editor’s Note: Qiushi Theory Online republished a Chinese Academy of Social Science (CASS) thesis on applying Marxist theory to analyze the recent global financial crisis. The author is Wang Weiguang, the Vice President of CASS. Wang argued that most analyses of the financial crisis have been done at the surface level; however, to do a scientific analysis to determine the essential cause of the crisis at the system level, one must apply Marxist theory and methodology. Wang praised Marx’s theory of cyclical recessions and the inevitable demise of capitalism. He claimed that China’s socialist market economy can prevent recessions. The following are excerpts from his thesis.] [1]

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Government Scholars Interpret Hu Jintao’s July 1st Speech

[Editor’s Note: Hu Jintao gave a speech on July 1, 2011, at the Conference to Celebrate the Chinese Communist Party’s (CCP’s) 90th Anniversary. Outlook Weekly, a publication under Xinhua, published a collection of articles in which government think tankers explained their interpretation of important quotes from Hu’s speech. [1] Their views cover using economic expansion (instead of adjusting income distribution) to solve the income disparity in China, maintaining social stability, and strengthening the party’s leadership. The following are translations of select summaries from these articles.]

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Study Times: China Must Pay Attention to Foreign Control of China’s Internet Companies

[Editor’s Note: Study Times, a weekly newspaper published by the Party School of the Central Committee of the Chinese Communist Party (CCP), published an article that a professor from the Chinese Academy of Social Sciences wrote, along with one of his students. The article warned that most of China’s Internet companies are controlled by foreign investment. This includes foreign companies, foreign investors, and companies that the Chinese have registered overseas. It held that the common practice for establishing an Internet company in China is to first register a controlling company overseas. This overseas company then either sets up a subsidiary company in China or finds an agent to register a company in China and then signs a contract to establish effective control over this China-registered company. Though Chinese own many of these overseas controlling companies, individual ownership is still different from state ownership. Also, it is easy for foreign capital to acquire these companies and thereby control China’s Internet business. The following are the main points of the article.] [1]

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A Chinese Scholar on China’s Financial Security Strategy

[Editor’s Note: Economic Information, a publication under Xinhua, published a research paper on China’s Financial Security Strategy. The author, Jing Naiquan, is an Associate Professor in the Finance Department of Zhejiang University and is Director of the China Gold Investment Institute. In his paper, Jing stressed that China should insist on the managed floating exchange rate system and diversify its reserve holdings into gold. He offered the theory of the “U.S. dollar’s three privileges” and suggested that this theory be used to counter U.S. pressure on RMB appreciation and that the U.S. be asked to lift its ban on high-tech exports to China. He also outlined 13 measures to improve financial security. The following is a translation of the article.] [1]

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Chinese Scholars on South China Sea Strategies

{Editor’s Note: The International Herald Leader recently published an exclusive report covering the "South China Sea Situation and the Media’s Responsibility Forum," a July 13 event jointly hosted by Yunnan Provincial Television and the Institute of Asia-Pacific Studies, Chinese Academy of Social Sciences. [1] The Chinese scholars invited to speak at the forum suggested strategies for multiple ways that China could use to deal with its South China Sea disputes with other countries: taking a hard diplomatic position with military backup, guiding international public opinion to favor China, and using "marauding pirates" as grounds to enter the disputed waters and assert China’s leadership. The following are excerpts from the article.]

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Red Flag Manuscript: Taking Advantage of Two Strategic Opportunities

[Editor’s Notes: An article in Red Flag Manuscript argued that two strategic opportunities in the world have been favorable to China’s rise in power. One is that the U.S. and other Western countries are still suffering from the global financial crisis. The other is the challenge of the Middle East, which is delaying the U.S. from directing its attention ever-eastward, where it will focus on deterring China. The article suggests that China should take full advantage of these two opportunities to grow its power. In particular, Communist theory is undergoing a revival and Capitalism is being questioned due to the ongoing crisis. Thus, China should actively cooperate with and provide help to left wing and socialist ideologies.] [1]

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