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All posts by RWZ - 212. page

China’s Researcher: Seeking U.S. “Strategic Reassurance” Concept for China

Zhang Zhixin, a researcher at the China Institutes of Contemporary International Relations, wrote an article about President Obama’s China strategy. Zhang indicated that the US recently came up with a new concept called:"strategic reassurance," which was first mentioned by Deputy Secretary of State James Steinberg, who also suggested on September 24, that the US invites China to be a prosperous nation as long as the growth is not at the cost of other nations’ safety and welfare. According to Zhang, the message from the US seems to be that Obama is willing to acknowledge China’s status as a rising world power – if China honors the status quo and does not challenge the leading position of the United States. Zhang’s article also asks: what can the US "assure" China of, when they are seeking a promise from China?

Source: Xinhua, October 15, 2009. 

Academic Bureaucratization is the Main Problem in Universities

Professor Chen Hongtai, expert at the Chinese Academy of Social Sciences. suggested that corruption is not today’s biggest problem in China’s universities. Excessive academic administration, bureaucratization and profit-chasing are the main threats. Chen called for safeguarding the domain of higher education as a “pure land,” where professors should take responsibility for exercising their conscience with regard to society’s future generations.

Source: Global Times, October 15, 2009. 

Xinhua: China’s Aging Crisis is Deepening

By 1999, Chinese society had entered an aging era when people older than 60 years old made up 10% of the entire population. Ten years later, this figure increased to 12.79 % of the populion, which represents 169 million people.The Ministry of Civil Affairs stated a belief that “China is rushing into an aging society at a speed that is exceeding our imagination.” It was suggested that over the next 25 years, China should be getting ready to develop a strategy to deal with this issue. Development plans, laws and regulations, social and economic policy adjustments – all need to be prepared.

Source: Xinhua, October 26, 2009.

Elaine Chao Became International Consultant of Wuhan Government

On October 16, former US Labor Secretary Elaine Chao accepted an invitation from the Wuhan government to be its International Consultant. Wuhan, Hubei is the largest city in central China. Elaine Chao became US Labor Secretary during the Bush Administration in 2001. She suggested in an interview that human talent is the most important element in a city’s scientific development, and employment is one of the most important issues in society. She attended the Ninth Conference of Overseas Chinese Development jointly hosted by the Overseas Chinese Affairs Office of the State Council, the government of Hubei Province and the government of Wuhan City.

Source: China Economy Net, October 16, 2009.

CIC $300 Million Russian Oil Investment

By the end of September, China Investment Corporation (CIC) completed phase one of its acquisition of a 45% share of Nobel Holdings Investments Ltd., a Russian oil and gas company. The second phase will include investment in assets around the oil field. The entire deal amounts to $300 million. This move is only one month after CIC spent $939 million to purchase 11% of Global Depositary Receipts (GDR) of a Kazakhstan oil company. Experts suggested that this current series of Chinese acquisitions is the result of the devaluation of US Dollar. CIC’s investing into natural resources is a new trend in its investment strategy.

Source: China Economy Net, October 16, 2009.

Xinhua: Obama Changed His Position on RMB

Xinhua reported that the US Treasury Department published a report acknowledging that China did not manipulate its RMB currency. Obama took a strong position at the beginning of his presidency, claiming China did manipulate the RMB. The new report indicated that his administration is loosening its position. However, the United States is still maintaining a double-standard on currency policy. Compared to the RMB’s over 21% appreciation over the US Dollar in the past several years, the US Dollar’s rapid devaluation is more alarming, but the US government is keeping quiet about it. The newly published report still believes the RMB is undervalued, an indication that the United States is still playing the currency card to apply pressure on China.

Source: Xinhua, October 16, 2009.

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