Briefings – Page 1164

Xinhua: Cautious about RMB Internationalization

Outlook Weekly, a magazine by Xinhua News, published an article suggesting that “there is a strongly rising public opinion that the Chinese currency RMB should become an international currency to match China’s world power status.”

The article cautioned that although the world suffered the damage brought by the US Dollar monopoly in recent years, there are still a great deal of risks for RMB internationalization. Risks mentioned in the article are: reduced capability for the central government to control Chinese macro economy, lowered stability of the economy, much heavier international responsibilities.

Source: Outlook Weekly, April 4, 2009.
http://news.sohu.com/20090408/n263256840.shtml

Briefings | | April 22, 2009 | Economy/Resources

International Herald: How Effective is Obama’s “Smile Strategy?”

"After Obama’s smile (during his G20 trip and Europe/Asia tour), if no concrete action follows up, maybe comic cartoons is the only place for his ‘signature smile’." Stated a commentary by the International Herald Leader on April 14.

The article said that Obama’s signature smile was successful but failed to solve problems. "The smiles cover up the embarrassment of the US and its unwillingness to take additional responsibilities," the article commented on the change of the body language of the current president,"… we will expect to see the US to be more modest and self-restrained as well as being flexible and smart… How long can his smiles last under the current domestic situation?" The article asks, "In the eyes of those conservative forces in the US, US interest takes superiority over others. It will not allow its hegemony to be challenged … The attack from the conservatives against Obama’s bow to the King of Saudi Arabia at G20 shows that it is not easy for the US to set down its haughty airs and smile with sincerity to the world."

Source: Xinhua, April 14, 2009
http://news.xinhuanet.com/world/2009-04/14/content_11183659.htm

Briefings | | April 21, 2009 | Geo-Strategic Trend

Jia Qinglin: Exercise the Party’s Direction and Explore New Opportunities on Religion Work

On April 17, Jia Qinglin, a member of the Politburo Standing Committee of the Central Committee of the Communist Party of China and Chairman of the Chinese People’s Political Consultative Conference, spoke at a forum on the Party’s religion work attended by provincial level party leaders.

Jia emphasized that all levels of party committees and government bodies should understand the overall and strategic importance of religion work under the current environment. They should further strengthen and exercise the Party’s leadership in religion work; strengthen research and investigation of the current status of various religions; pay attention to religion work at the ground level; strengthen the support of patriotic religious organizations; fully encourage and utilize personnel within those organizations to play active roles to bridge the connections between the government body and religious believers to ensure stability among religions.

Jia also instructed that it is required that they should actively engage in building friendly relations with religions from overseas and be on guard against foreign forces using religion for espionage.

Source: Xinhua, April 17, 2009
http://news.xinhuanet.com/newscenter/2009-04/17/content_11200560_1.htm

Briefings | | April 21, 2009 | Government/Politics

China’s Steel Industry Set For Tough Times

Xinhua reported that China’s steel exports were a mere 1.91 million metric tons in January, a drop of 54.6% from a year earlier. Exports in February went down further to 1.56 million metric tons. China Iron and Steel Association warns that China may soon import more steel than export. Slack domestic demand, reduced international orders, trade barriers in the West and competition from other countries are said to have contributed to the downturn.

On April 8, 2009, seven US steel companies and trade unions filed an anti-dumping petition against Chinese steel products with the US government. On the same day, the European Commission announced its decision to impose anti-dumping duties ranging from 15.6% to 24.2% on Chinese seamless steel pipe.

Source: Xinhua, April 14, 2009
http://news.xinhuanet.com/herald/2009-04/14/content_11183107.htm

Briefings | | April 20, 2009 | Economy/Resources

China’s Navy Is Undergoing a Major Transformation

Xinhua published a lengthy interview with the Commander of the People’s Liberation Army Navy, Wu Shengli. Wu mentioned that the Navy is undergoing a major transformation. The transformation includes modernization from a mechanized system to an information technology based system and extension of target combating area from near sea to distant sea.

Wu stated that the Central Party Committee requested the Navy emphasize the preparation of military combat over the sea as the national security strategy and military strategy, and gradually develop a defense system over the sea to safeguard the country’s ocean security and development interests.

Briefings | | April 20, 2009 | Defense/Military

China Flexes Military Muscles

In recent years, as China has strengthened its military, China has compared its armed forces with the world’s most technologically advanced militaries. Compared to the U.S. and other developed countries, China still lags in terms of weapons of information technology. Nevertheless, China has advanced armed vehicles and tank capabilities, as well as conventional weaponry.

Since the beginning of the open door policy, the Chinese government has invested a huge amount of resources to modernize its armed forces. China’s military spending in 2009 will rise 14.9% to 480.7 billion yuan.

Source: BBC Chinese.com
http://news.bbc.co.uk/chinese/simp/hi/newsid_7990000/newsid_7996300/7996336.stm

Briefings | | April 17, 2009 | Defense/Military

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