Chinascope – Page 788

Study Times: Take the Initiative to Move Forward on the Road to RMB Internationalization

On February 24, 2014, Study Times, the publication of the Party School of the Central Committee of the CCP, published an article titled “RMB Internationalization Leads Chinese Economic Breakthrough.” The article reported that the People’s Bank has signed a currency swap agreement with the European Central Bank and the Bank of England, two of the three “World Central Banks.” According to the article, a currency swap with major world powers is a convenient way to realize the internationalization of the RMB. China’s economy has reached a critical juncture. It is time to take the initiative to move forward on the road of RMB internationalization. However, a currency war may be bloody and violent.

Source: Study Times, February 24, 2014
http://www.studytimes.com.cn/shtml/xxsb/20140224/3929.shtml

Briefings | | February 26, 2014 | Economy/Resources

The Chinese Communist Regime’s Strategies to Overpower the U.S.

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The Chinese Communist Party (CCP) ghost is still behind every building block of Chinese society, while China’s economy has expanded to a scale comparable to that of the U.S. People who live in a society that doesn’t require having to face the CCP in their daily lives tend to underestimate the Party’s impact.

Although the U.S. government and the American people have never been China’s enemy, due to their conflicting ideologies, U.S. democracy and its values have presented the biggest threat to the CCP’s continued existence. This has been particularly true since the CCP attempted economic openness at the international level, while still trying to keep its political system unchanged. How the communist regime views and treats U.S.-China relations has therefore become quite complex.

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Analyses | | February 25, 2014 | Opinion

Xinhua: The West’s Strong Intervention Caused the Chaos in Ukraine

Xinhua recently reported on the fall of Ukraine’s Yanukovych government, which had been closer to Russia. The report expressed the strong belief that the heavy intervention that the West imposed significantly encouraged the opposition to “raise the price” against the Yanukovych government. Ever since the beginning of the crisis, the European Union and the United States have stood strongly behind the opposition. High ranking EU and U.S. government officials frequently visited Ukraine during the crisis. Some appeared in person right at the center of the demonstrations and even delivered speeches. The report downplayed the role Russia had in the process by saying Russia engaged in the negotiations too late and could do little to change the direction. The report concluded that uncertainty is still the key word to describe the situation currently in Ukraine.

Source: Xinhua, February 23, 2014

http://news.xinhuanet.com/world/2014-02/23/c_126176278.htm

Briefings | | February 25, 2014 | Geo-Strategic Trend

China News: China Made Solemn Protest against Obama’s Meeting with the Dalai Lama

China News reported on February 22 that Zhang Yesui, the Chinese Deputy Minister of Foreign Affairs, summoned the U.S. Embassy charge d’affaires Daniel Kritenbrink to protest the recent meeting between President Obama and the Dalai Lama. Zhang called this a “wrong move,” saying it severely interfered with China’s internal affairs and it caused significant damage to the China-U.S. relationship. Zhang expressed “strong indignation and opposition.” The Chinese spokesperson from the Ministry of Foreign Affairs also pointed out that the Dalai Lama has long been performing the function of splitting China under the name of religion and that the U.S. move violated its promise not to support the idea of an independent Tibet. He also asked the U.S. government to take immediate steps to eliminate the “adverse effects” so as to prevent further damage to the relationship between the U.S. and China.

Source: China News, February 22, 2014

http://www.chinanews.com/gn/2014/02-22/5869673.shtml

Briefings | | February 25, 2014 | US-China Relations

China Daily: RMB Depreciation Signals Economic Slowdown

China Daily recently reported that on February 19, the Chinese currency, the RMB, sharply depreciated by nearly 100 points against the U.S. Dollar. At least two Chinese major banks triggered this dramatic market change by buying the U.S. Dollar for no apparent reason. Some experts suggested that worries about a tangible slowdown of the Chinese economy is changing people’s positive attitude towards the Chinese currency. The offshore RMB exchange rate and offshore RMB futures also dropped immediately. According to Sina Finance, the official RMB to U.S. dollar exchange rate fell another 88 points on February 21; it thus reached the lowest point since last December. This round of sudden RMB depreciation occurred when there was no other clear market fluctuation.

Source: China Daily, February 19, 2014

http://caijing.chinadaily.com.cn/xfly/2014-02-19/content_11244630.html

Sina Finance, February 21, 2014

http://finance.sina.com.cn/money/forex/20140221/111618291056.shtml

Briefings | | February 25, 2014 | Economy/Resources

People’s Daily: Revenue from Land Sales Was 33 Percent of National Financial Income

People’s Daily published an article titled, “It Is a Dangerous Sign that Revenue from Selling Land Has Become the Major Source of Income for Municipal Governments.” The article said that, according to the statistics published by the Ministry of Land and Resources, in 2013, income from land sales was 4.1 trillion yuan (US$0.67 trillion) which was 33 percent of the national income. The article stated that, ten years ago, the cost of land was 20 percent of the cost of housing. In recent years however, it has grown to be 60 percent or even higher. The article pointed out, “Land sales may appear positive but it sends many dangerous signals. … The municipal government can easily rely on land as its income source rather than developing its own economy or making changes to its economic structure. This also increases the financial risk while it impairs the stability and safety of the tax revenue.”

Source: People’s Daily, February 23, 2014
http://finance.people.com.cn/n/2014/0223/c1004-24436578.html

Briefings | | February 24, 2014 | Economy/Resources

Qiushi Theory: Dominance in Cyberspace will Shift from the U.S to China

Qiushi Theory (Seeking Truth) a bi-monthly periodical on political theory published by the Central Party School and the Central Committee of the Communist Party circulated an article stating that cyberspace security has become the major battleground between China and the U.S. The article predicted that, in the next five to 10 years, China will shift from being in a defensive position to gaining control and dominance in cyberspace security.

According to the article, the U.S. currently leads the world in Internet infrastructure; the U.S. is the most competitive [country] in the Internet industry and it is the most powerful in cyber warfare. According to the article, the U.S. is also the only country in the world that has the capacity to be aggressive in its cyberspace strategy, even though it claims its strategy is a defensive type.

The article also pointed out that the U.S. utilizes its discourse right to frame China as the cyber attacker but neglects to mention that the U.S. is the origin of cyber attacks and has the largest base for cyber attackers. It pointed out that the U.S. dominates in cyberspace infrastructure including the root name server and IP name server. Both of these are under the control of the U.S. government, while U.S. companies have the absolute advantage of dominance as the supplier in building Internet infrastructure.

The article anticipated that the dominance of cyberspace will shift to China due to the fact that China’s netizen population is three times that of the U.S. The main task for China is to finish improving its cyberspace security defense strategy. The article concluded that China also has an urgent need to finalize its top level national strategy so that it fits China’s capabilities and its growth trend. At the same time, it must come up with the proper strategy and wisdom to face competition in the cyberspace industry and in the media war.

Source: Qiushi Theory, February 22, 2014
http://www.qstheory.cn/zz/wwtj/201402/t20140220_322880.htm

Briefings | | February 24, 2014 | Government/Politics

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.