Xinhua: Chinese Youth Feel Pressured and Insecure When Pursuing Their Dreams in Life
On May 4th, which has been established as China’s Youth Day, Xinhua carried an article on Chinese youth and their mental state as they pursue their dreams in life. The article observed that the youth in China are under tremendous social pressure. Many of them are puzzled and lost as they face a reality that turned out to be different from their expectations. They face the issues of skyrocketing housing prices and a valid urban residential status. Those who came from the rural areas seeking opportunities in the urban regions feel especially unsettled. The article also quoted Lian Xi, director of the youth development research center of the University of International Business and Economics. Lian stated that, currently, Chinese youth often develop their understanding of society while they are in school. Then, when they enter society, because of the reality they face, many of them encounter insecurity about their futures.
Source: Xinhua, May 4, 2014
http://news.xinhuanet.com/politics/2014-05/04/c_126456893.htm
Xinhua: Singapore Has Become the Second Largest Offshore RMB Center
According to data released by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), on April 28, Singapore surpassed London and became the second largest offshore RMB center next to Hong Kong. The statistics showed that the March RMB settlement amount in Singapore accounted for 6.8 percent of the total. It thus surpassed London, which had 5.9 percent. However Hong Kong, which accounts for 72 percent of the world’s total, still remains the largest.
Source: Xinhua, April 29, 2014
http://news.xinhuanet.com/2014-04/29/c_126444131.htm
China Review News Commentary on the Challenges that the Chinese Communist Party Faces
China Review News carried a commentary on the challenges that the Chinese Communist Party faces. According to the commentary, the most important issue that the Party faces is how the Party can develop as the ruling Party guided by Marxist ideology and how the Party can sustain its long term power and governing capability. The commentary listed a number of crises that the Party faces. One is the test of the Party’s ability to govern, as well as the challenge to the Party’s legitimacy to rule. Other issues include that the public lacks channels for participating in politics. The mechanism of the current market economy cannot effectively constrain the alliance between power and money. This has caused the central economic policy to be blocked when carried down to the district. A number of social ideologies collide with each other. The process of educating people on the core value system needs to be further developed and strengthened. Some Party cadres ideals and beliefs are shaky. The Party is facing a crisis in managing social crises, while social uprisings continue to increase. Finally, social distrust is emerging more and more frequently.
Source: China Review News, April 27, 2014
http://hk.crntt.com/doc/1031/4/7/9/103147969.html?coluid=151&kindid=11513&docid=103147969&mdate=0427001232
Global Times: The United States Jumped to the Front in the Sino-Philippine Dispute
Huanqiu (Global Times) published a commentary discussing the intention of Obama’s Asian trip. A brief summary of the commentary follows:
China to Build a Second Ship Lock at the Three Gorges Dam
According to a report from 21st Century Business Herald, building a second ship lock at the Three Gorges Dam may become a priority project to break the bottleneck in the Yangtze River’s shipping. If there is a fog or wind, ships will pile up waiting to pass the ship lock. Normally it takes three to five days. In the event the ship lock is under repair, the wait to pass the Three Gorges Dam can be between seven and 10 days, or even longer.
Qiushi: China Has Achieved a Decisive Success Following Its Own Path
Qiushi published a commentary on the failure of the West’s market fundamentalism and democratic fundamentalism and the success China has had following its own path.