Chinascope – Page 988

China’s Central Bank Chief Criticizes the World’s Three Major Credit Rating Agencies

Zhou Xiaochuan, the Director of the People’s Bank of China, spoke at China’s 3rd Economic Outlook Forum, which was held in Beijing on December 25, 2011. Zhou criticized the world’s three major credit rating agencies, Moody’s Investors Service, Standard & Poor’s and Fitch Ratings, because they lack the capability of making predictions. According to Zhou, these credit rating agencies tend to exaggerate problems or achievements. If a company has a problem, these agencies make it look worse; if a company does well, they flatter it, making it into more than it is. Therefore, Zhou urged that China reduce its dependence on overseas credit rating agencies and support the development of China’s own, home-grown rating agencies.

Source: China National Radio, December 26, 2011
http://www.cnr.cn/jlfw/cj/201112/t20111226_508978096.shtml

Briefings | | December 28, 2011 | Economy/Resources

Xinhua: The Level of Urbanization in China Reaches 50%

Xinhua recently reported that the Chinese Academy of Social Sciences released the Social Bluebook it had recently compiled. According to the Bluebook, in the year 2011, the level of urbanization in China reached 50%. The 2010 national census indicated that, last year, the urban population reached 49.68%. This was the first time in a few thousand years that urban citizens outnumbered those classified as “farmers.” The Bluebook considered the moment a historic turning point and suggested that this may have a major impact in several social areas, such as the patterns of consumption, life styles, and value systems. The Bluebook also suggested that urbanization is becoming the second major economic engine after industrialization. However, urbanization is also believed to raise a number of social issues, such as the lack of labor protection and social security.

Source: Xinhua, December 19, 2011
http://news.xinhuanet.com/2011-12/19/c_111256953.htm

Briefings | | December 27, 2011 | Economy/Resources

General Peng: U.S. Global Strategic Adjustments

Global Times recently published a summary of a speech delivered by General Peng Guangqian, the Deputy Secretary of the National Security Policies Committee. In his speech, Peng identified three key global strategic events that have had a major impact on the international political landscape: (1) the global financial crisis; (2) the historic Middle East political “earthquake”; and (3) the U.S. moving its global strategic focal point to East Asia. According to Peng, the new U.S. strategy includes six elements: (1) China as the primary war target; (2) Japan and Australia as the key strategic allies; (3) Western Pacific based military bases; (4) the Western value system; (5) the U.S. dominated economic containment system; and (6) foreign policies aimed at separating China from its neighboring countries. In his speech, Peng expressed the worry that traitors in China might work with the U.S. to overturn the government.

Source: Global Times, December 16, 2011
http://mil.huanqiu.com/Observation/2011-12/2289744.html

Briefings | | December 27, 2011 | Defense/Military

Qiushi Journal: Capitalism Is Dying

[Editor’s Note: Recently, Chinese state media have frequently commented on the global financial crisis. An increasing number of articles are even claiming outright that the current crisis portends the end of capitalism. Their arguments range from the greediness of capitalism to how politicians sell their souls and from the loss of public trust to how U.S. hegemony has transferred the crisis to the rest of the world. The “fake democracy” in the U.S. and the “collapsing political/democratic system” in the U.S. are also hot topics. Such claims lead to an implied but unstated conclusion that China does not need to take the path of democracy that the U.S. promotes. They also support China’s new drive toward cultural system reform – increasing its “soft” power and striving to control the international discourse power. The following are excerpts from two articles that appeared in the Chinese Communist Party’s (CCP’s) prestigious theoretical publications that make such statements.]

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Reports | | December 26, 2011 | Report

Yuan Pang: New Challenges for China-U.S. Relations

The “2011 Forum on China Diplomacy Review and Future Outlook” was held on December 18, 2011, in Beijing. Yuan Pang, the director of the American Studies Institute of the China Institute of Contemporary International Relations, discussed the new challenges that China-U.S. relations presently face. Yuan listed four challenges: 1) The biggest challenge is that the foundation for long-term cooperation between China and the U.S. is shaky. After the killing of bin-Laden and the U.S. withdrawal of its troops (from Iraq), will anti-terrorism continue to be a cooperative strategy? As the complementary relationship of the economy and trade between China and the U.S. gradually manifests more friction and conflict, will cooperation in the areas of the economy and trade continue to support China-U.S. relations? These two foundations face challenges. 2) The second area for challenges is the change in the international environment, namely in our neighborhood, where the U.S. is making use of those countries that have territorial conflicts with China. 3) Third is that Russia, as our strategic partner in the past, is expecting China to come to the front line. 4) The last one is that the strategic view has changed. In Deng’s era, China’s strategy was to learn from the U.S. in technology and absorb capital. After Deng, the strategy has become fighting and cooperation at the same time. What is the direction China should take right now? It is not clear.

Source: ifeng.com, December 19, 2011
http://news.ifeng.com/mainland/detail_2011_12/19/11427081_0.shtml

Briefings | | December 23, 2011 | US-China Relations

China to Procure Foreign Experts to Develop Emerging Technologies and Industries

Zhang Jianguo, China’s Vice Minister of Human Resources and Social Security, spoke at the 14th Expo for Chinese Overseas Experts, which was held in Guangzhou. He indicated that over the next 10 years, China plans to bring in an average of 50 to 100 experts per year for a total of 500 to 1,000 foreign experts. The priority is to bring in strategic scientists, leading technology experts, and international innovative teams that can make breakthroughs in critical technologies, develop high tech and emerging industries, and bring about new disciplines in science.

Source: Xinhua, December 20, 2011
http://news.xinhuanet.com/2011-12/20/c_111259701.htm

Briefings | | December 23, 2011 | Geo-Strategic Trend

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.