Chinascope – Page 819

State Think Tank on Strategies for China’s Foreign Exchange Reserves

Zhang Ming, an official from China’s Academy of Social Sciences, suggested that China, as the largest creditor of the U.S. debt may be the key to stabilize the U.S. dollar’s exchange rate.

Zhang said that, in the long term, the U.S. exchange rate rather than the U.S. Treasury yield is the determinant for China’s purchase of the U.S. Treasury debt, thus stabilizing the U.S. dollar’s exchange rate in the foreign exchange market. When the U.S. dollar’s exchange rate is under pressure to appreciate, China will buy additional U.S. Treasury bills to help depreciate the U.S. dollars.

Zhang recommended that China should diversify its foreign reserves within its U.S. dollar assets, rather than changing into other currencies. Also China should buy credit default swaps or S&P Volatility Index (VIX) calls to hedge against the risk that the U.S. Government may default. China should also take action to reduce the growth of its foreign exchange reserves.

Source: Financial Times (Chinese Edition), October 23, 2013

http://www.ftchinese.com/story/001053040

Briefings | | October 25, 2013 | US-China Relations

People’s Daily: For the U.S. Government to Preach “Freedom of the Press” Is Hypocritical

An article appearing in the CCP’s mouthpiece, People’s Daily, made some comments about the U.S. freedom of the press. “Even with the ‘protection’ of the First Amendment of the U.S. Constitution, and even though it is regarded as the ‘gold standard’ of America’s soft power, the so-called ‘sacred inalienable’ ‘freedom of the press’ that the U.S. government preaches is, after all, hypocritical.” As evidence, the commentary cited the Committee to Protect Journalists’ report which states that how the U.S. government dispenses harsh punishment to those who leak information and how it monitors reporters’ survey data poses a threat to freedom of the press.

The article stated, “The relationship of the U.S. government to the media has never been cool. Sometimes [the government] applies more ‘soft intervention,’ such as making up some hidden news for the media. Sometimes it imposes ‘hard monitoring,’ such as suppressing some media and reporters. Even more common is the use of both together. Such intervention and monitoring have never stopped and will not be reduced in the future.”

“Why is Washington so keen on exporting the concept of freedom of the press to other countries and even getting involved in promoting freedom of the press by itself? In addition to the consideration of adding the ‘superior system label’ to the United States, an important objective is to demonstrate the U.S.’s ‘political correctness.’ Once this so-called political correctness is combined with its powerful economic and military strength, it is not surprising [to see the U.S.] playing tricks, being preemptory, and using extortion.”

Source: People’s Daily, October 22, 2013

http://world.people.com.cn/n/2013/1022/c1002-23279889.html

Briefings | | October 24, 2013 | US-China Relations

Red Flag Manuscript: Take the Initiative in the Ideological Battlefield

An article titled "Take the Initiative in the Ideological Battlefield" appeared recently in Red Flag Manuscript, a main publication of the Central Committee of Chinese Communist Party. The article pointed to the importance of the Party’s ideology and also to the challenges the Party faces.

"Profound lessons should be learned from other countries and other political parties. For example, after Gorbachev came to power in the Soviet Union, he gradually abandoned the guiding position of Marxism and switched to an ideology of pluralism, an abstract humanitarian philosophy, neo-liberalism in economics, nihilism in history, and freedom of criticism in literature, resulting in the wide spread of non-Marxist and anti-Marxist ideas. This was an important cause leading to the collapse of the Communist Party and the Soviet Union. The recent color revolutions in West Asia and North Africa all began with the ruling party’s giving up control of the mainstream ideology."

"Ideological work faces challenges. The real danger from the Western anti-China hostile forces should not be underestimated. They vigorously promote Western-style democracy and the values of freedom and human rights and they maliciously attack the Party’s leadership in an attempt to disintegrate the Party’s ruling base in order to replicate the "color revolutions" in China. Some anti-China forces collude and support each other and do everything possible to rope in groups such as those advocating Tibetan separatism and Taiwan independence, the East Turkistanis, pro-democracy movements, and Falun Gong, in an attempt to foster a strategic alliance from within China. By seizing the hot issues in economic and social development, they have sentimentalized the theories of the failure of socialism, of the clash of civilizations, and the idea that human rights is above sovereignty. They have also deliberately hyped up the theories of China’s economic threat, energy threat, and military threat. The sinister intention of subverting and containing China is abundantly clear."

"Negative online information that confuses our common ideals and beliefs should not be underestimated. Although China’s Internet penetration rate is 42 percent and Internet users have reached 564 million, 80 percent of Internet information is provided by the United States, 90 percent is in the English language, and the export of China’s information is less than 1 percent of the global total. The passive pattern of ‘the West being strong and we being weak’ in online discourse rights is very prominent. Taking advantage of their network hegemony, Western countries cultivate and order some Internet "dissidents" and "opinion leaders" to speculate maliciously as to Party and military-related public opinion in order to concoct massive negative rumors and false information, so they can discredit the Party and the government’s image."

Source: Qiushi journal, October 23, 2013
http://www.qstheory.cn/hqwg/2013/201320/201310/t20131023_281706.htm

Briefings | | October 24, 2013 | Government/Politics

Guangming Daily: The Party Must Use the Magic Weapon of Struggle

On October 21, 2013, the China National Defense University Research Center published a special commentary in Guangming Daily on Xi Jinping’s remarks that “[We] are engaged in a great struggle that has many new historical features; we face unprecedented challenges and difficulties.”

According to the Report of the 18th Congress of the Chinese Communist Party, “The Party is confronting the challenges to a ruling party, the challenges of reform and opening up, the challenges of the market economy, and the challenges from the external environment, all of which are long-term, complicated, and severe. The dangers of slacking off, of a lack of capacity, of being disconnected from masses, and of corruption are expressly placed in front of the whole Party.”

The commentary stated that these tests and dangers are the test of the century for the Party and that carrying on the struggle is the necessary way to deal with them. “Faced with the danger of the demise of the Party and the country, the Chinese Communist Party can only bring about a bright future by using the magic weapon of struggle.”

Source: Guangming Daily, October 21, 2013

http://news.gmw.cn/2013-10/21/content_9229354.htm

Briefings | | October 24, 2013 | Government/Politics

The Number of Officials Punished for Bribery Has Increased 60 Percent in the Last 5 Years

According to an anti-corruption work report that the Supreme People’s Procuratorate of the People’s Republic of China released, from January 2008 to August 2013, 32 provincial-level government officials were sentenced for corruption. Half of them were sentenced to death but received a reprieve. In the past 5 years, a total of 148,931 people were convicted of corruption. The number of officials investigated and punished for the crime of bribery has increased 60 percent compared to the previous 5 years.

The National People’s Congress (NPC) Standing Committee reviewed the anti-corruption and anti-bribery report on October 22, 2013. This was the 2nd time since 1989 that the NPC Standing Committee has listened to an anti-corruption report.

Source: China Review News, October 23, 2013
http://www.zhgpl.com/doc/1028/1/4/7/102814723.html?coluid=151&kindid=0&docid=102814723&mdate=1023092425

Briefings | | October 23, 2013 | Government/Politics

Chinese Newspaper Says Reports that Property Prices Will Collapse Are Not Credible

On October 21, 2013, Qilu Evening News (http://www.qlwb.com.cn/), the biggest official newspaper in Shandong Province in the People’s Republic of China, published an article commenting on reports that “Property Prices Will Collapse,” a message currently circulating on the Internet. According to this message, the Chinese Communist Party Central Committee has sent out an internal early warning that property prices in 15 cities, including Qingdao and Yantai in Shandong Province, will collapse. Most of the 15 cities are on the east coast of China.

The Qilu Evening News article challenged the credibility of the Internet message by listing a series of statistical data, including the data released by the National Bureau of Statistics of China, which has shown a steady increase in property prices in China, particularly in Qingdao, Yantai, and on the east coast.

Source: Qilu Evening News, October 21, 2013
http://epaper.qlwb.com.cn/qlwb/content/20131021/ArticelA15002FM.htm?jdfwkey=0quvp3

Briefings | | October 23, 2013 | Economy/Resources

Qiushi: Universal Values and Constitutional Democracy Would Confuse the People’s Minds

On October 16, 2013, Qiushi Theory, a periodical on political theory that the Chinese Communist Party Central Party School and the CCP Central Committee run jointly, published an article titled, “Consolidate the Common Ideological Basis that the Party and the People share in their Concerted Struggle.” The common ideological basis at the present time, according to the article, is to walk on the socialist path with Chinese characteristics toward the goal of the rejuvenation of China under the sole leadership of the Chinese Communist Party.

The article criticized several popular Western ideological trends that would “confuse the people’s minds” and “crumble the common ideological basis of the Party and the people in their concerted struggle.” The "wrong ideas" listed in the article include “universal values,” “constitutional democracy,” “historical nihilism,” “neoliberalism,” the doubts about “the economic reform and opening up to the world,” and “the socialist nature of socialism with Chinese characteristics.”

Source: Qiushi Theory, October 16, 2013
http://www.qstheory.cn/zxdk/2013/201320/201310/t20131012_278250.htm
http://www.qstheory.cn/qszq/qsllwdt/201310/t20131017_279836.htm

Briefings | | October 23, 2013 | Government/Politics

CRN: Japan Arranged a Maritime Countries Conference

China Review News (CRN) recently reported that Japan organized a conference officially called, “Supporting Emerging Maritime Countries in Building Capacity.” The Japanese Ministry of Foreign Affairs arranged and headed the conference. Thirteen countries attended, including key Southeast Asian countries like the Philippines, Vietnam, Indonesia and Malaysia. CRN also published a commentary suggesting that Japan is apparently establishing a strategy against China to encircle it. Ever since Abe became the Japanese Prime Minister, Japan has been actively developing this strategy. First Japan wholeheartedly supported the U.S. strategy of its “Return to Asia.” Then the Japanese special envoy visited South Korea to repair their relationship. After that, Japan implemented a number of pro-Taiwan policies to further divide the Mainland and Taiwan. A number of strategic moves have also been implemented recently to engage ASEAN (Association of Southeast Asian Nations) as well as Australia and India. Significant new military spending has been added to Japan’s 2014 budget. The commentary calls Japan a “trouble-maker.”

Source: China Review News, October 20, 2013

http://www.zhgpl.com/doc/1027/7/3/9/102773950.html?coluid=1&kindid=0&docid=102773950&mdate=1020000050

Briefings | | October 22, 2013 | Geo-Strategic Trend

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.”