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China’s Reaction to Trump’s Election Win

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Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

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Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

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Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized

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China and Russia Challenge the U.S. Dollar’s Leading Position in International Trade

Chinese and Russian leaders announced on November 23, 2010,  that both China and Russia will use their national currencies to settle bilateral trade.

On November 27, 2010, China Review News predicted that "the U.S. dollar’s hegemony will collapse” when the U.S. fails to find a new “myth” to maintain its economic model that profits from increasing debts. “It is the U.S. dollar’s hegemony that has forced China and Russian to use their national currencies to settle their bilateral trade. Of course, the move that China and Russia took is a challenge to the U.S. dollar’s hegemony, though it cannot immediately end the U.S. dollar’s hegemony.”

On November 23, 2010, China Daily, on the other hand, said that the move did not directly challenge the U.S. dollar.

Sources:
China Review News, November 27, 2010
http://gb.chinareviewnews.com/doc/1015/1/9/1/101519126.html?coluid=148&kindid=0&docid=101519126&mdate=1127000659
China Daily, November 23, 2010
http://www.china-daily.org/China-News/Bilateral-trade-between-China-and-Russia-will-be-settled-in-national-currency/

Briefings | | |   Geo-Strategic Trend

Expanding the Chinese Communist Party within Foreign-Owned Enterprises in Beijing

[Editor’s Note: The following is an article from Qianxian magazine, an official publication of Beijing’s CCP Committee. The article explores the mechanisms used to set up a CCP organization inside a foreign-owned enterprise (FOE) in Beijing and shows some figures. For example, “The general Party branch in Siemens, China, which initially had one Party branch with 50 Party members, has developed into nine branches with nearly 300 members.” The author is the Party Secretary of the CCP Committee of the Beijing Investment Promotion Bureau.] [1]

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Reports | | |   Report

The Chinese People Cannot Be Fooled

[Editor’s note: After the 5th Plenum of the 17th Communist Party of China Central Committee in mid October 2010, the Chinese official media intensified its criticism of Western democracy. The following abridged article explicitly criticized America’s multiparty politics, human rights and the separation of powers as being “fictitious” and “not achievable.” The author wrote, “When (China) develops its own democratic politics, it must not follow the Western path.” “If China adopts multiparty politics or federalism, China will fall into chaos and be ruined.” [1] The identity of the author, Wang Xuefei, is not known. Some bloggers think it may be a pen name. The article generated strong reactions in China; online polls allowed readers to cast “support” or “opposition” to the article. According to one source, an online poll conducted by sina.com registered 2,000 negative votes and 350 favorable votes. In another poll on ifeng.com, more than 10,000 people voiced their disapproval, and no one supported it. The poll results from both sina and ifeng were erased the next day along with readers’ comments. [2] The article’s strong rhetoric and the people’s reaction underscored the Communist Party’s diminishing ability to influence and guide public opinion.]

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Reports | | |   Report

Party Official Urges Lawyers to Support the Party

Politburo Standing Member Zhou Yongkang urged lawyers to follow the Party line. He made a speech at a national conference of lawyers in Beijing on November 22, 2010, emphasizing that [lawyers] should diligently study recent Party directives for lawyers. "[Lawyers] must uphold the legal system of Chinese style socialism, … uphold the Party’s leadership over lawyers actions, deepen education in the socialist rule by law, and ensure that lawyers follow the socialist direction."

Source: Xinhua, November 22, 2010
http://news.xinhuanet.com/politics/2010-11/22/c_13617186.htm

Briefings | | |   Government/Politics

Study Times: Lessons for State Owned Companies to Learn from the Financial Crisis

A recent Study Times article summarizes lessons that state-owned companies should learn from the financial crisis, highlighting the role of state control:
 
1. The State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) must fulfill its obligations as regulator.
2. SASAC must lead and dominate during the election of the board of directors.
3. SASAC must further research and improve board governance and the evaluation of board members.
4. SASAC should further clarify the criteria used in appointing board members.
5. SASAC should balance between the political core role of the Party and modern corporate governance.
6. SASAC should strengthen the training and quality of board members.

Source: Study Times, November 15, 2020
http://www.studytimes.com.cn:9999/epaper/xxsb/html/2010/11/15/08/08_62.htm

Briefings | | |   Government/Politics

The State Is Getting Richer While the Poor Get Poorer

Study Times published a article on the topic of Chinese citizen’s tax burden: "During recent years, tax revenues have drastically increased, growing faster than the GDP. Further, the GDP has grown faster than residents’ income from wages and salaries. This shows that, by distributing the nation’s wealth, the state’s share of that wealth has been increasing through its leveraging of the taxing mechanism."

Source: Study Times, November 22, 2010
http://www.studytimes.com.cn:9999/epaper/xxsb/html/2010/11/22/12/12_40.htm

Briefings | | |   Government/Politics

Xinhua: Chinese Satellite Navigation System will have Global Coverage

Liu Lihua, Member of the Party Leadership Group in the Ministry of Industry and Information Technology, revealed on November 15 that the second generation of the Bei Dou Satellite Navigation system is under construction. Six satellites have been sent into orbit and the Asia-Pacific region will be covered by the year 2012. The system is expected to have global coverage by 2020. The goal of the system is to provide continuous and reliable navigation and short text services. The final system will have more than 30 satellites.

Source: Xinhua, November 15, 2010
http://news.xinhuanet.com/2010-11/15/c_12777521.htm

Briefings | | |   Information/Technology

CRN: Bank Deposit-Reserve Ratio Increased Again

China’s central bank, the People’s Bank of China, announced that, starting November 16, 2010, the RMB Deposit-Reserve Ratio increased by 0.5% to 17.5%. This is the fourth time this ratio was adjusted this year. Analysts believe it is very likely the central bank will raise interest rates in a few months. Based on some estimates, every 0.5% increase freezes RMB 350 billion. Since the ratio adjustment does not ease the high inflation situation, this move is recognized as a sign of a new round of interest rate increases. China’s central bank blames the recent issuance of U.S. Dollars for China’s inflation, calling it “imported inflation.” It was also promised that “hot money” would be strictly controlled.

Source: China Review News, November 11, 2010
http://gb.chinareviewnews.com/doc/1015/0/0/7/101500716.html?coluid=45&kindid=0&docid=101500716&mdate=1111080113

Briefings | | |   Economy/Resources