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China’s Senior Diplomat: An Arab Spring in China Is a Fantasy

Zhang Zhijun, China’s Vice Minister of Foreign Affairs, stated that 70% of the people in China support the current government and that an Arab Spring-style uprising in China is no more than a fantasy. “China has different policies and situations from those in West Asian and North African regions and countries. In fact, according to a poll conducted by a Western organization, China ranked No. 1 with over 70% of those responding giving favorable votes on satisfaction with the government. The reason why the people show such support for the Chinese government is simple. In the past 30 years of reform and opening-up, China has developed rapidly in the political, economic, and social fields, with unprecedented achievements in its history. Anyone, by looking at these changes, will know that the so called China’s Arab Spring is no more than a fantasy.”

[Editor’s note: Zhang’s remarks were made in response to those of Senator John McCain, who was on the same panel as Zhang at the 48th Munich Security Conference on February 4, 2012. McCain stated, "It is a matter of concern when Tibetans are burning themselves to death because of the continued repression of the Tibetan people in your country." "I have said on many occasion and I will say again the Arab Spring is coming to China as well."]

Sources:
International Finance News reprinted by People’s Daily, February 6, 2012
http://paper.people.com.cn/gjjrb/html/2012-02/06/content_1002186.htm
Huff Post, February 6, 2012
http://www.huffingtonpost.com/2012/02/04/john-mccain-arab-spring-china_n_1254462.html

Briefings | | |   Government/Politics

People’s Daily: Internet Erodes China’s Sovereignty

People’s Daily published a commentary stating that the Internet has weakened the state’s control of information. “Through its open platform, the Internet is eroding state sovereignty. … The bar for individuals to use Internet is extremely low due to its openness. Basically, anyone can engage in communication on an equal platform. … In the political arena, someone can spread things on the Internet using audiovisuals, advertisements, games, speeches, or online work products that threaten or potentially threaten the state’s regime, all of which influences the thinking and behavior of Internet users. This type of infiltration is long-term and subtle. It can gradually replace Internet users’ original ideals and values with various political principles that the Internet media advocate.”

The commentary concluded that, because of the Internet, the state is no longer the only source of information, thus weakening the state’s control over information. The information boundary is no longer the same as the border of the national territory.

Source: People’s Daily, February 2, 2012
http://opinion.people.com.cn/BIG5/17003075.html

Briefings | | |   Information/Technology

Chinese Seek Investment Emigration Overseas

Xinhua’s Economic Information Daily reported that the third wave of Chinese emigrating overseas has been gaining momentum, with the United States and Canada as the top destination choices. An October 2011 survey indicated that 60% of those whose net worth exceeds 100 million RMB are either applying for or planning to apply for emigration to other countries. The first wave of emigration occurred in the early stage of the China’s open-door policy, when people left China primarily to look for work. The second wave was in the 1990s. It featured high tech emigrants. The third wave started in 2002 when the U.S. implemented a new immigration policy. It gathered momentum in 2008, particularly after the international financial crisis. Most from China have been investor emigrants. The report notes that, along with investment emigration, a large amount of funds has been transferred overseas. “The desire of investor emigrants to seek refuge [overseas] is strong.”

Source: Xinhua, February 1, 2012
http://news.xinhuanet.com/fortune/2012-02/01/c_111475232.htm

Briefings | | |   Social Stability

Scholar: Heightened Risks in International Financial Market

Tan Yaling, President of China Foreign Exchange Investment Research Institute, predicted that 2012 may present potential risks in three areas of the international financial market: First, there are risks to the Euro and a crisis is imminent. Greece or Germany may opt out, which may lead to higher Euro risks and a further crisis. Second, oil price hikes may lead to severe inflation and an economic crisis would be inevitable. Third, fluctuations is the price of gold will be unpredictable and there will be an increase in speculative moves in the gold market. While the price of gold may continue to rise, severe drops may occur. The price of gold is a double-edged sword. It may protect the dollar and the U.S. but the U.S. may also be forced to sell gold in order to save itself.

Source: Xinhua, January 24, 2012
http://news.xinhuanet.com/finance/2012-01/24/c_122611836_4.htm

Briefings | | |   Economy/Resources

State Official Advocates Use of Foreign Exchange Reserve to Solve Domestic Problems

Zhang Anyuan, the Director of the Office of Fiscal Finance at the Economic Research Institute of the National Development and Reform Commission, proposed two approaches to use regarding China’s foreign reserves. “Rather than watching our foreign exchange reserves shrink in value, we should use them to solve domestic problems.” The first approach is to “convert financial assets into reserves of resources,” whereby China encourages the exploration but limits the production of oil, coal, iron ore, and non-ferrous metals. This would increase their imports, reduce the foreign exchange reserves and keep the reserves of resources available in China. The second approach is to “inject funds into local financial entities so as to increase their credit ratings.” According to Zhang, local financial entities have entered into the peak period when payments are due on the government bonds they previously issued. Some of them may face a high probability of liquidity risks. Such an injection of funds will help improve their credit ratings so that these local financial entities can issue more bonds, domestically or in Hong Kong, to solve their liquidity problems for the payments on the bonds they previously issued. 

Source: Modern Bankers reprinted by Sina.com, January 19, 2012
http://finance.sina.com.cn/leadership/mroll/20120119/160911242096.shtml

Briefings | | |   Economy/Resources

CRN: China Should not Join the U.S. in Sanctioning Iran

China Review News published a special commentary stating that China should not join the United States in sanctioning Iran unless Iran openly opposes the resolution of the Security Council of the United Nation. The poor economy in the United States has made its Secretary of the Treasury (Timothy F. Geithner, who recently visited China) seek China’s support for an increase in sanctions against Iran. If that is the case, “The U.S. Secretary of the Treasury will leave China empty handed. Sanctions are a double-edged sword. For decades the sanctions that Western countries have taken against Iran have not caused the collapse of the Iranian economy. In fact the Western countries have lost a lot of business interests. The Chinese government will absolutely not agree to join the camp that is taking sanctions against Iran unless Iran openly opposes the resolution passed by the U.N. Security Council and moves further and further away on the issue of nuclear weaponry."

Source: China Review News, January 25, 2012
http://gb.chinareviewnews.com/doc/1019/7/5/4/101975417.html?coluid=136&kindid=4710&docid=101975417&mdate=0125000148

Briefings | | |   Geo-Strategic Trend

ID Required to Purchase Kitchen Knives in Beijing

According to Legal Evening News, residents in Beijing cannot buy kitchen knives at supermarkets and department stores without providing their government issued ID cards. The customers must register their names by filling out ID cards at the stores and must provide an explanation of the intended use for the kitchen knives. A local resident, Ms. Zhang, just moved into a new home and went to the store to purchase several kitchen knives. She was not allowed to purchase the knives because she did not bring her ID with her. Notices have been posted at the stores stating that, according to an order from the Public Security authorities, those who purchase knives in stores must produce IDs for registration at the stores. Wal-Mart and Happy Go stores now require customers to show IDs when purchasing knives. However, customers can still purchase knives at hardware stores without IDs.

Source: Legal Evening News reprinted at sina.com, January 28, 2012
http://news.sina.com.cn/c/2012-01-28/150723848923.shtml?c=spr_sw_bd_maxthon_news

Briefings | | |   Social Stability

Outlook Weekly: Why the West Has Been Wrong about China’s Economy

Outlook Weekly published an article about the West’s pessimistic forecasts for China’s economy. The article pointed out that these negative Western forecasts about China’s economy have never materialized. It stated that there are three reasons: One, Western economists do not want to see a rising China and have the wishful thinking that China will go downhill and collapse. Two, the Western economists measure China against the history of the growth of Korea and Japan. They believe that if other countries such as Korea and Japan did not make it, then China will not be able to make it either. Three, China’s market economy is one that is atypical. When Western economists reviewed the prospects for China’s economy, they relied on the methodology and standards applicable only to typical market economies. That is why their grim forecasts for China have failed to materialize.

Source: Outlook Weekly reprinted by sohu.com, January 21, 2012.
http://news.sohu.com/20120121/n332841922.shtml

Briefings | | |   Economy/Resources