China Economy Forum

[JSCh]

Author is fellow of China Information Center, known China detractor/basher.

China Information Center

The China Information Center (CIC) "is a nonprofit organization that engages in research projects on China's politics, economy, social and cultural development. CIC's goal is to bring balanced and credible information about China, Tibet and the world to the Greater Chinese readership found within Mainland borders and beyond. Initiated by Harry Wu (Wu Hongda), Executive Director of The Laogai Research Foundation, in Feburary 2002, CIC is located in Northern Virginia and guided by an editorial board consisting of prominent individuals from Chinese, European, and American academia and journalism."


Harry Wu - President [2]

The frontpage of their website provides links to the following sites:

Human Rights

Laogai Research Foundation
International Campaign for Tibet
Digital Freedom Network/China
Amnesty International
Freedom House
Olympic Watch

Think Tanks

American Enterprise Institute
The Brookings Institution
Carnegie Endowment
The Heritage Foundation
Hoover Institute
The PEW Research Center
Jamestown Foundation
Asia America Initiative

 

[Azazel]

Don't forget we have 3.3 trillion national reserve to save ourselves. That 3.3 trillion can't be fake. Indian got what to save you all?

Strong national reserve is what prevented Singapore to suffer the 1997 and 2008 financial crisis. I can be assure, India is 10 times worst than China and the worst is India don't have 3.3 trillion to save you.

Are suggesting you will bail out bankrupt chinese companies using your foreign exchange reserves.I don't understand how you use your dollar denominated assets for such purposes.You should learn more on economics.

 

[JSCh]

President of China Information Center
Harry Wu - Wikipedia, the free encyclopedia

Harry Wu (born 1937) is an activist for human rights in the People's Republic of China. Wu spent 19 years in Chinese labor camps, and is now a resident and citizen of the United States. In 1992, he founded the Laogai Research Foundation.

 

[JSCh]

Domestically you can always print money. Just like the FED using QE.

Although it might not be a good idea, since the Japanese did that and is in a recession for decades.

The US might do better because US dollar is world reserved currency.

The US can have the world citizen including you and me to pay for their banker mistake.

 

[Skull and Bones]

They also scam many of the Indian Government money and still survive...

DRDO wasn't involved in any scams, it was the evaluators from the Indian armed forces, and middle mans involved in acquisitions. Please get your facts right.

 

[darkhero]

I guess sooner or later we will see another article about: "India’s Hidden Debt Risk".

From my limited experience in this forum: Whenever Indians talk something bad in China, the same thing will be found in India soon and even worse.

 

[Sanchez]

All civilized governments provide aid to foreign countries. It's at least a good will and gesture. I remember that Sweden had an aid program of 2 million USDs per annum to China. You can't say it's useless or useful. I think that it's perfect OK that Canada wants give China aid or not. It's not our business.

I am glad that India is still on Canadian aid list, and guess that's why Indian trolls wanted to bring the news into a Chinese defence forum.

 

[feilong]

why end corruption in India, without corruption for india.The whole country will go begging for life, so keep the corruption for india and save the face out of begging like beggar.

 

[Anees]

Nice method to escape thread from commenting... Just merge it, Simple........

 

[siegecrossbow]

Nice method to escape thread from commenting... Just merge it, Simple........

It wasn't even posted in the right place in the first place. Economic/political news shouldn't show up in the defense section. The mod had every right to merge it with the economy thread.

 

[tranquilium]

Are suggesting you will bail out bankrupt chinese companies using your foreign exchange reserves.I don't understand how you use your dollar denominated assets for such purposes.You should learn more on economics.

First of all, the guy is mistaken. You can't spend foreign reserve like that. Foreign reserve is money already in circulation, if the government want to use it, they have to purchase it through government budget. Not a good idea unless it is a major emergency. One example is Chiang Kai-shek of KMT. He created a 10000% yearly inflation just before he got kicked out of mainland by CCP. A positive example of emergency use of foreign reserve is the 97 Southeast Asia financial crisis, the Chinese government threatened to combat US financial attacks on Hong Kong to the bitter end, even by using its foreign reserves. The threat successfully halted the attacks on Hong Kong.
Though to be honest, the debt issue is really nothing. I mean 16% GDP and people are scream sky is fallin? Then what exactly are US, Japan and European countries suppose to do with their higher/close to 100% GDP debts? This applies especially to Japan and US, which have 270% GDP and 102.9% GDP respectively. Not to mention that Chinese debt is growing at only 3% per year and the Chinese GDP is growing at 7.5% to 8%.

 

[cirr]

China Plans To Add A Mind-Boggling 800 Miles To Its Subway System Over 2 Years

Frank Holmes, U.S. Global Investors|

Mar. 19, 2013, 3:04 PM|1,544|1

Would it surprise you to discover that China is planning to add 800 miles to its subway system over the next two years? That’s the distance equivalent to building a network from Dallas to Chicago in less time than the U.S. Congress can resolve a budget!

In 2015, when the infrastructure build-out is complete, China’s subway track alone will be a mind-boggling 1,900 miles, according to JP Morgan.

The Asian giant has been in the midst of constructing the world’s largest transportation system, laying mile after mile of high-speed rail and subway track. According to the World Metro Database, Beijing and Shanghai currently have the longest metro and subway systems, with about 275 miles each. The city of Guangzhou in China also falls in the top 10, with 144 miles of rail, beating Paris’ network length of 135 miles.

This ambitious program is part of the pragmatic solution to help 1.3 billion residents move around the country efficiently and reduce the increasing problem of air pollution due to car emissions in big cities including Beijing.

 

[cirr]

The cities listed below will join the metro club in the following years：

2013
Harbin, Zhengzhou, Changsha

2014
Qingdao, Wuxi, Ningbo

2015
Nanchang, Fuzhou, Ordos, Dongguan, Macau

2016
Nanning, Hefei, Wenzhou, Xuzhou, Urumqi

After 2016 (U/C)
Guiyang, Shijiazhuang, Changzhou, Lanzhou, Taiyuan, Xiamen

Hefei metro planning
Currently Line 1 and Line 2 are under construction and due for completion in 2016.

 

[shuttler]

From 1st to 2nd tier cities and then starting the 3rd, great going China!

 

[cirr]

China growing strongly, risks manageable: OECD report

Reuters Mar 22, 2013, 12.41PM IST

BEIJING: China's economy should expand by 8.5 per cent in 2013 and more in 2014, with inflation and export demand the biggest near term risks to growth that should average 8 per cent in this decade at current rates of investment and reform, the OECD said on Friday.

The Organisation for Economic Co-operation and Development (OECD) offered one of the most upbeat assessments of China's prospects of any of the major multilateral institutions in its new Economic Survey of China, which was unveiled in Beijing.

The 161-page survey, the first such report from the Paris-based OECD since 2010, was particularly optimistic about the outlook for investment spending in the world's No 2 economy.

It pointed to substantial deficits in rail and road capacity relative to other major economies at similar stages of development, as well as to sub-standard housing as offering scope for more profitable spending on infrastructure.

"The level of investment in the private sector is well-founded by the rates of return, and in infrastructure, we still think there are tremendous needs," Richard Herd, the head of the OECD's China desk, told a media conference.

"We're positive on investment in the sense that we see rates of return remaining quite high," he added.

Many private sector economists believe China's GDP growth by the end of this decade will be nearer 5 per cent than the 10 per cent average annual rate it has hit for the last 30 years.

China's official growth target for 2013 is 7.5 per cent and 7 per cent on average in the five-year plan that runs to 2015.

Growth slowed to a 13-year low of 7.8 per cent in 2012, with weak demand in the European Union and the United States -- the two biggest export customers -- the main drag on growth.

"Recent OECD simulations suggest that China could maintain high, though gradually easing, growth during the current decade, averaging 8 per cent in per capita terms," the report said, adding that the country was on course to become the world's largest economy by 2016, adjusted for price differences.

The OECD said soggy export demand was the biggest potential external risk to its 2013 growth forecast and a pick-up in inflation was the biggest domestic risk factor to maintaining a policy mix that has underpinned an economic recovery in China that took hold in the fourth quarter of 2012.

Herd said official economic data so far in the first quarter of 2013 supported the OECD's above-consensus growth call, with domestic consumption -- key to Beijing's economic rebalancing strategy to wean the economy off of exports and investment -- faring well with wages ticking higher and inflation subdued.

He played down the concerns about heavily-indebted local governments, saying that in the overall context of a central government with big cash reserves, large fiscal flexibility and the potential for Beijing to take direct ownership of troubled local government assets, China's financial system was strong enough to easily absorb potential trouble.

The report, which focused on the growth prospects and risks offered by China's renewed urbanisation drive as well as relations between local and central governments and pollution, said that further economic reform was crucial to ensure growth was sustained longer term.

"To sustain vigorous and socially inclusive growth over the longer run, renewed reform momentum is required," it said, pointing to financial market liberalisation and increased competition in the services sector as key areas of focus.