Chinascope – Page 1109

People’s Daily: The U.S. Dollar Is the Culprit in the Currency War

Xiangyang Li, the director of the Asia Pacific Institute of the Chinese Academy of Social Sciences, published a commentary article in the People’s Daily Overseas Edition on the ongoing global currency depreciation war. He said that the U.S. dollar is the culprit in the currency exchange war.

While the U.S. dollar appears to be market driven, in reality, there is a strong element of active devaluation. He suggested that international society should be aware of the phenomenon. Li believes that, in the long run, the U.S. dollar’s large scale depreciation will help the U.S. transfer its debt. If the international financial crisis has brought about the nationalization of private debt, then the United States urgently needs to internationalize its debt. Even though the U.S. may not admit its intention to convert its debt, it cannot avoid such a consequence.

Source: People’s Daily, October 14, 2010
http://opinion.people.com.cn/BIG5/40604/12946061.html

Briefings | | October 15, 2010 | Government/Politics

Global Times: Can the United States Slow China’s Rise?

On October 11, 2010, Global Times, a subsidiary of Xinhua, posted a commentary on its website titled, “Can the United States Slow China’s Rise?” The author is a professor from the PLA University of National Defense. The article states, “What’s the key U.S. strategy toward China? It is to ‘guide’ China’s development and ‘control’ China’s direction.” The article contends that the U.S. can no longer contain China, but can only ‘guide’ it to slow its development.

The article stated that the major tactics the U.S. employs include: (1) Keep focusing on the “Taiwan issue.” (2) Instigate the countries that border China to constantly provoke incidents. (3) Conduct military exercises around China, especially in China’s offshore areas, to create an atmosphere of tension. (4) Strengthen military ties with China’s neighboring countries. (5) Join Russia to suppress China’s military development. (6) Disrupt China’s peripheral security under the banner of "anti-nuclear terrorism." At present, one of the prominent features of the Obama administration’s military strategy is to shift its focus from combating conventional terrorism to combating nuclear terrorism.

Source: Xinhua, October 11, 2010
http://news.xinhuanet.com/world/2010-10/11/c_12644603.htm

Briefings | | October 15, 2010 | US-China Relations

Chinese Official: U.S. Sets “Traps” and “Obstacles” for China

Zhenlong Wu, chairman of China Pacific Regional Cooperation Committee (CPRCC), published an article in Jiefang Daily, commenting on current China-U.S. relations. The article was republished in People’s Daily and on many other state media websites.

Wu said in his article that the regular status of China-U.S. relations is the coexistence of cooperation and conflict, while bonding to each other. Cooperation harbors conflict, and conflict contains compromise. In explaining the complicated China-U.S. relationship, he said that when a country is on the rise, it will inevitably be subjected to suppression by the originally more powerful country. The United States frequently sets up “traps” and “obstacles” for China to prevent China’s development. [Therefore] the conflicts and contradictions between China and the U.S. are structural. On the other hand, they are inseparable from both countries’ economic interdependence, which has increased during the current global financial crisis.

Source: People’s Daily, October 12, 2010
http://world.people.com.cn/GB/12928090.html

Briefings | | October 15, 2010 | US-China Relations

China Military Emergency Forces Approach 100,000

On October 12, Liu Junjun, an official from the China Ministry of Defense, remarked that the Chinese military established an emergency system, which consists of 50,000 people with national emergency response expertise and 45,000 with provincial emergency response expertise.

His remarks were made during the second ASEAN Plus Three forum on non-traditional security threats.

Liu identified special military task forces for flood disasters, earthquakes, nuclear biotech attacks, emergency airlifting, coastal searches, etc., totaling 50,000 national and 45,000 provincial personnel. Over 20 defense officials and military officers from ASEAN, China, Japan, and Korea attended the forum.

Source: Xinhua, October 12, 2010
http://news.xinhuanet.com/2010-10/12/c_12652167.htm

Briefings | | October 14, 2010 | Defense/Military

Government Scholar on Nansha Islands: Diplomatic Crisis Might Become a Reality

Cai Penghong, a research fellow at the Institute of Asia-Pacific Studies, Shanghai Academy of Social Sciences, wrote that, due to continuous U.S. military presence and intervention, and because the U.S. encourages Vietnam’s and the Philippine’s claims over the Nanshan Islands, U.S. ships may mistakenly or purposely enter the territorial waters of the Nansha Islands.

“The possibility of a Sino-US diplomatic crisis in the Nansha region might then become reality.”

"While the U.S. tries to control the ASEAN, ASEAN has its own way to effectively deal with the situation," remarked Cai. “In this context, China should take the initiative, take a tougher stance to safeguard its territorial sovereignty, and speed up consultation with the respective countries to develop a ‘Nansha Code of Conduct.’"

He suggested that, at present, China is the only country that can bring about a resolution to deal with the risk of trouble around the Nansha Islands.”

Source: Huanqiu, October 12, 2010
http://mil.huanqiu.com/Exclusive/2010-10/1163533.html

Briefings | | October 14, 2010 | Geo-Strategic Trend

Why the Vietnamese Feel Pity for the Chinese People

[Editor’s Note: While China is trying to convince the world that a one party system is the only way, its former Communist ally in the south appears to think otherwise. In this widely circulated article on the Chinese Internet, blogger Yan Changhai reviews Vietnam’s recent political reforms and democratization. The author views Vietnam’s recent joint military exercise with the U.S. in the South China Sea as proof of its determination to become a U.S. ally. He praises Vietnam’s anti-graft policy, land reform, and human rights protection. He also predicts that Vietnams’ democratization will become the envy of the Chinese people. The following is a translation of an abridged version of the article.] [1]

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Reports | | October 13, 2010 | Report

China’s Central Bank Increased the Required Reserve Ratio

On October 11, 2010, China’s central bank, the People’s Bank of China, notified six banks that it will increase the required reserve ratio for them by 50 basis points. The six banks include the four major state-owned banks and 2 publicly traded banks, China Merchants Bank and China Minsheng Bank. “The market anticipates this action will only last for 2 months. The main purpose is to react to the high number of new loans that banks issued in September of this year.”

Governor Zhou Xiaochuan said that there hasn’t been enough evidence to show that the quantitative tools that the central bank adopts, including reserve ratio and open market operation to absorb liquidity, cannot meet the goal of controlling inflation.

Source: China Review News, October 12, 2010
http://gb.chinareviewnews.com/doc/1014/7/1/6/101471619.html?coluid=10&kindid=253&docid=101471619&mdate=1011170343

[Ed: China Review News is a Hong Kong based Chinese government news agency with a focus on international affairs.]

Briefings | | October 13, 2010 | Economy/Resources

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

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

Xinhua Commentaries: “Exposing the Three Major Political Deficits of the U.S.”

The CCP’s Performing Arts Troupes in the U.S.