Chinascope – Page 1293

Xinhua China Comment: Analyze the Shortcomings of Capitalism from the Financial Crisis

Xinhua magazine China Comment published an article calling the end of American style of free capitalism. The article says that U.S. government’s massive involvement in the market signals the end of the free capitalism of America. The author argues that the sudden collapse of the free capitalism is the result of the shortcomings of free capitalism. The article listed several deficiencies of the capitalism that resulted in the crisis. In the end, the author concludes: “…The financial crisis and the U.S.’s “nationalizing” market rescue shows that the American flag of freedom has already descended from the flagpole. For so many years, the United States has been offending other countries’ sovereignty and will to promote the free capitalist model, now many problems have come.

Source: Xinhua, November 11, 2008
http://news.xinhuanet.com/world/2008-11/11/content_10339611.htm

Briefings | | November 11, 2008 | Government/Politics

Hu and Obama Had Telephone Conversation

Hu and Obama had a telephone conversation in the evening of November 8. Hu congratulated Obama for winning the presidential election. He praised Obama’s China policy where the importance of US-China relationship was emphasized, so was the cooperation between the two countries to work together through the global challenges and sharing the opportunity to grow.

“In the new era, China is willing to maintain the dialog with US at all levels, continue to develop strategic talks and increase cooperation in various areas.” Hu said. “We would also hope to further develop talks in handling the important international affairs, respect and care for each other and properly handle sensitive issues, such as the issue of Taiwan, so as to elevate our constructive cooperation to another level.”

Source: Xinhua, November 9, 2008
http://news.xinhuanet.com/newscenter/2008-11/09/content_10328354.htm

Briefings | | November 9, 2008 | US-China Relations

State Council Introduced Measures to Expand Domestic Consumption

On November 5, Premier Wen Jiabao chaired a State Council meeting and discussed the measures to expand the domestic consumption to ensure smooth economy growth.

It was agreed that it is necessary to adopt a macro economic policy in light of the world economic crisis which will contain the execution of proactive fiscal policies and loose monetary policy; speed up the projects to improve people’s living standard as well as infrastructure, bio-environment and natural disaster recovery. The measure will also include the effort to improve the living standard of the low income group.

Source: Xinhua, November 11, 2008
http://news.xinhuanet.com/newscenter/2008-11/09/content_10331258_1.htm

Briefings | | November 9, 2008 | Economy/Resources

Millions of Migrant Workers Return Home

In little over two weeks from October 11 to October 27, 1.2 million people boarded the train from Guangzhou Train Station. The number is 130,000 higher than the same period last year. Most of them are migrant workers who were affected by factory shutdown and chose to return back to their hometown. Experts predicted that the trend of factory closing is currently moving from the south towards the east part of China.

Source: Mingpo, November 9, 2008
http://www.mingpaonews.com/20081109/gba1.htm

Briefings | | November 9, 2008 | Economy/Resources

Agriculture Official on Privatization of Land

Privatization of land will not solve China’s problems, said Huang, an Agriculture official, at a press event on November 4, 2008. Huang stated that China agriculture sector cannot compete with that of the United States because of low land per capita (1.38 mu per person) and its small scale of economy. The right way, according to Huang, is to increase the efficiency of land use and the scale of economy through transfer of land use right.

Source: Xinhua, November 7, 2008
http://news.xinhuanet.com/fortune/2008-11/07/content_10319517.htm

Briefings | | November 7, 2008 | Economy/Resources

China Exports Slows Down

Chinese Customs authorities released export statistics for the first three quarters of 2008 showing an 11.8% net growth of export, totaling $1,074 billion. It is a reduction of 8.1 percentage point comparing to the same period last year. The reduction was mostly caused by the decrease in the traditional and bulk products. A China Customs official warned that China cannot ignore the impact on its import and export trade of the U.S. financial crisis.

Source: Xinhua, November 6, 2008
http://news.xinhuanet.com/newscenter/2008-11/06/content_10317019.htm

Briefings | | November 7, 2008 | Economy/Resources

China to Produce and Distribute U.S. Aircraft Liberty XL2

Xinhua reported on November 6, 2008 that Henan Anyang Eagle, an aircraft technology company, will join hands with U.S. Liberty Aerospace of Melbourne, Florida to produce and distribute in China the Liberty XL2. It is a two-seat, low-wing, general aviation aircraft manufactured by Liberty Aerospace for the personal transportation, touring and flight training roles.

Source: Xinhua, November 6, 2008
http://news.xinhuanet.com/newscenter/2008-11/06/content_10318324.htm

Briefings | | November 7, 2008 | US-China Relations

Xinhua: Obama Needs China

Xinhua noted in a November 6 article that during the 30 some years since the establishment of diplomatic relationship between China and the United States, no U.S. election was like the 2008 election – China policy was basically excluded from the election debates. “Obama needs China’s cooperation in his foreign policy and U.S. economic recovery. The United States will contract in its foreign strategy in the next 4 years, except that as a Democratic tradition, it will make some noises on human rights and pressure China on Tibet issues.”

Source: Xinhua, November 6, 2008
http://news.xinhuanet.com/world/2008-11/06/content_10313993.htm

Briefings | | November 6, 2008 | US-China Relations

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

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.”