Economy/Resources - 249. page

Voice of America (VOA) published some experts’ opinions concerning China’s rising.  

Some highlights are:
1. The more Western countries ask China for help, the more China ignores Western countries. In the past, before a U.S. President came on a State visit to China, China released several political prisoners as a goodwill gesture. But now, China no longer feels such a gesture is necessary.

2. According to World Bank’s poverty standards, there are 800 million Chinese living below the poverty line. Besides, China’s small to mid- sized enterprises are struggling to survive. Additionally, there are complicated social problems and a suffocating political system. So China is not really rising.

3. China’s economic performance was a fake prosperity. China’s government plunged six trillion yuan into the economy, but the money was absorbed by the real estate industry. Now China’s real estate market is a bubble ready to burst. In 2010, the crisis will truly damage China.

Source: VOA, December 20, 2009
http://www1.voanews.com/chinese/news/china/China_emerging_20091220-79754647.html

In an interview on December 27, 2009, Chinese Premier Wen Jiabao commented on the RMB’s value. Wen confirmed that the RMB will not undergo any appreciation as a result of outside pressure. He suggested that protectionism is rising rapidly against China. Some countries are coming up with a large number of trade barriers, even in the name of environmental protection. Wen believes keeping a stable RMB value is China’s contribution to the world economy. Meanwhile, he is not optimistic about next year’s trend of Chinese exports.

Source: Xinhua, December 27, 2009
http://news.xinhuanet.com/2009-12/27/content_12711307.htm

Huanqiu reprinted a report originally published on China.org.cn on December 4, 2009, describing the development of Confucius Institutes around the world. Since 2004, 282 Confucius Institutes have been set up in 88 countries. At present, online Confucius Institutes are available to 149 countries. In addition, there are 11 Confucius radio broadcasting classes.

In 2009, the National Office for Teaching Chinese as a Foreign Language (NOCFL) has sent 2,060 training teachers to 109 countries and 2,740 Chinese language volunteer teachers to 71 countries. At the same time, 1,020 foreign students from 50 countries are studying in China for their Master’s degrees, majoring in International Chinese Education, and 2,200 foreign students are studying the Chinese language in China. Over 1,000 U.S. elementary and secondary school principals have been invited to visit China.

Source: China.org.cn, December 04, 2009
http://china.huanqiu.com/roll/2009-12/657985.html 

Xinhua reported that Wen Jiabao presided over a December 14 State Council Executive Meeting in which China’s communist controlled government acknowledged that the country is facing real estate problems. Since the time China stimulated its economy, the already high-priced housing market experienced another upsurge, making it unaffordable for the average Chinese to attain decent housing. Many Chinese people live in sheds. The meeting attendees demanded that the government exert pressure, curb rising housing prices and increase the supply of non-luxury residential properties, such as low to mid-level priced and small to mid-level sized housing and public rental housing. 

Source: Xinhua, December 14, 2009
http://news.xinhuanet.com/fortune/2009-12/14/content_12645976.htm

Professor He Keng, who is a National People’s Congress Standing Committee member, Vice Chairman of Congress Finance and Economy Committee, and Chairman of China Statistical Society of Education, recently commented that he could not afford an apartment based on his salary. The professor pointed out that there is a bubble in the Chinese real estate market, which is primarily caused by government speculation on both land and housing. He believes that local governments and some “experts” favor the existence of the bubble, because it has brought them profit. He also believes that sooner or later the price will drop.

Source: Global Times, December 15, 2009
http://china.huanqiu.com/roll/2009-12/661145.html

China’s Hu Jintao was in Turkmenistan on Monday December 14, attending the opening ceremonial of the launch of a natural gas pipeline that runs 1,140 miles across three Central Asia nations to the Chinese border, and into the Chinese region of Xinjiang. Kazakhstan’s president Nursultan Nazarbayev, Turkmen President Gurbanguli Berdymukhamedov, and Uzbekistan President Islom Karimov turned the valve of the pipeline with Hu. 

On Monday December 14, China Heaven Creation officially took over the White House Theater in Branson, Missouri, the United States. “It is the very first time that a Chinese cultural enterprise successfully bought a U.S. theater, and is a major achievement of Chinese culture ‘stepping outside,’” said Xinhua. 

Xiao Gang, Secretary of the Party Committee and Board Chairman of the Bank of China, recently advised that the bank is enhancing the research of strategic new industries. It will also support the development of a "low carbon economy." Xiao pointed out that the Bank of China should optimize the structure of its loans to be positively in line with the restructuring process of the economy. Its research is aimed at new financial products and service models. Mr. Gang also commented on the needed improvements in personal financial services, integrated domestic and international business, and risk management.

Source: Xinhua, December 7, 2009
http://news.xinhuanet.com/fortune/2009-12/07/content_12606158.htm