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All posts by RWZ - 247. page

CRN: China’s Strategy for Sustainable Growth in the Post US Debt Era

China Review News (CRN) recently published an article discussing the strategy for China’s sustainable growth after the U.S. debt crisis. The article pointed out two main challenges: (1) the investment-based growth model needs adjustment; (2) the export-oriented economy must change its focus to a unified domestic market. The article suggested that China has a similar debt risk from its large local government debt total of RMB 10.7 trillion. Meanwhile, currently, Chinese exports concentrate on sectors that have a thin profit margin; the large trade volume does not generate a high profit. The author concluded that, unless the current growth model switches to the domestic market, it will be hard to recover from the damage caused by the U.S debt crisis.

Source: China Review News, August 10, 2011
http://gb.chinareviewnews.com/doc/1017/9/4/6/101794661.html?coluid=53&kindid=0&docid=101794661&mdate=0810071138

Xinhua: U.S. Strengthens Air Reconnaissance over China

Xinhua recently published a digest report based on an article by the Russian newspaper Pravda. The Pravda article stated that the U.S. has insisted on strengthening its air reconnaissance missions regardless of China’s angry protests. The article expressed the belief that China’s air defense system is fully capable of defeating all types of U.S. reconnaissance aircraft. A Russian military expert suggested that, under the current tight Asia-Pacific situation, it is very important for the U.S. military to keep a close eye on China’s military movements, especially on its strategic nuclear capabilities, as well as China’s anti-missile systems.

Source: Xinhua, July 29, 2011
http://news.xinhuanet.com/mil/2011-07/29/c_121742052.htm

Xinhua: Libyan Rebels Embarrassed the West

Xinhua recently reported on the assassination of the Libyan rebel’s military commander. The report emphasized that the victim died as a result of infighting. It quoted Gaddafi’s spokesman as saying “For the U.K. this is a resounding slap in the face.” The timing of the event was very unfortunate for the U.K. since it happened only 24 hours after the U.K. diplomatically acknowledged the rebels. The BBC reported the assassination as “totally exposing” the internal disagreements among the rebels. Despite the infighting among the rebels, on July 30, NATO bombed the Libyan National Television Station. The article referred to several newspapers in Egypt, Hong Kong, and Russia whose comments questioned whether the rebels can actually control and manage post-Gaddafi Libya.

Source: Xinhua, August 1, 2011
http://news.xinhuanet.com/world/2011-08/01/c_121754127.htm

People’s Daily: China cannot Commit to Giving up Military Option in South China Sea

People’s Daily recently published its own commentary (in addition to other media) on ASEAN’s (the Association of Southeast Asian Nations) attempt to get China to sign the “Guidelines of Peaceful Conduct in the South China Sea.” The commentary suggested that this is a new attempt by Vietnam and the Philippines to force China to acknowledge their actual occupation of some islands. The author expressed the belief that these two countries are, wit U.S. help, testing China’s bottom line. This new attempt seeks an agreement on binding guidelines which were designed to eliminate China’s military option. The U.S. support called for all parties to follow the United Nations Convention on the Law of the Sea; however, the U.S. Congress itself has not approved it. The commentary suggested that, at the end of the day, there will be no win-win situation and the military option must remain on the table. The author also suggested that attacking pirates and conducting rescue missions could be used as excuses to maintain a military presence in the South China Sea.

Source: People’s Daily, August 4, 2011
http://military.people.com.cn/GB/15326005.html

Xinhua: China Building Hydropower Station in Zambia

Xinhua recently reported that construction started on July 20, 2011, on the Zambian Kafue Gorge Lower Hydro-power Station. The China Water & Electric Corporation (CWE), the China-Africa Development Fund, and Zambia Electricity Supply Corporation Limited (ZESCO) funded the project. The President of Zambia attended the opening ceremony and welcomed the Chinese investment. The capacity of the power plant is 750,000 kw. The construction project is expected to take 6 years to complete. Once the plant starts producing, CWE will remain as a primary shareholder .

Source: Xinhua, July 21, 2011
http://news.xinhuanet.com/2011-07/21/c_121697509.htm

Politburo: Maintain Strong Control of the Real Estate Market

According to China Review News (CRN), a Politburo meeting chaired by Hu Jintao on July 22 reported that China’s general economic health is positive, but the issues of imbalance, inconsistency and unsustainability are still very pronounced. New issues are also coming up due to the changes in the international and domestic environments. The primary goal of macroeconomic management is to stabilize the overall consumer price level, which includes maintaining strong control over the real estate market. The meeting also emphasized the firm position of lowering the rate of increase in housing prices and speeding up the development of low-income housing projects. The meeting called for unifying all thoughts and actions on all administrative levels towards the direction that the Party Central Committee pointed out.

Source: China Review News, July 22, 2011
http://gb.chinareviewnews.com/doc/1017/7/5/4/101775457.html?coluid=151&kindid=0&docid=101775457&mdate=0722214159

Xinhua: Western Media Makes Up Stories about Joint Nuclear Effort

Xinhua recently published an article criticizing Western media for making up stories about an Iran-North Korea joint effort to build long range nuclear missiles. The article referred to the London based Telegraph, which on July 21, 2011, reported on a study done by the British think tank, the International Institute for Strategic Studies (IISS). Xinhua said that IISS suggested that the two aforementioned nations are jointly developing nuclear missiles. Also mentioned in the Xinhua report were a report from the Israeli Jerusalem Post and suggestions made by U.S. think tank Rand. Reuters also reported on some “guess work” by the South Korean Defense Minister on the same effort. The Xinhua article downplayed the situation and suggested that it will be too hard for these two nations to come up with a usable intercontinental missile platform any time soon, although it is possible they may have “some kind of cooperation."

Sources:
Xinhua, July 29, 2011
http://news.xinhuanet.com/mil/2011-07/29/c_121739281.htm
Telegraph, July 21, 2011
http://www.telegraph.co.uk/news/worldnews/asia/northkorea/8653171/North-Korea-and-Iran-increase-collaboration-on-nuclear-missile-report-claims.html

China Launched Tian-Lian One-02 Satellite

According to China Manned Space Engineering Online, China recently successfully launched a second data relay satellite named Tian-Lian One-02. The satellite is to be used for China’s first space docking mission planned for the second half of the year. The satellite was developed by China Academy of Space Technology, under China Aerospace Science and Technology Corporation. This new satellite works in conjunction with the Tian-Lian One-01 satellite, launched three years ago, to form a network to support space data relay and to provide monitoring and control services. The Tian-Lian One-01 satellite served the manned space mission Shenzhou VII to increase the coverage of monitoring and control services from 15% to 50%. 

Source: China Manned Space Engineering Online, July 12, 2011
http://www.cmse.gov.cn/news/show.php?itemid=1485