Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘china’

‘Apartheid Without the Racism’: How China Keeps Rural Folks Down

Posted by hkarner - 26. April 2017

Date: 25-04-2017
Source: The Wall Street Journal

Old ‘hukou’ registration system blocks millions from benefiting from China’s continuing property boom

YANJIAO, China—An epic property boom restricted to city dwellers has opened a wealth gap that continues to widen in China, setting back a state campaign to ease poverty and shunting rural dwellers from the middle-class dream.

China’s system of hukou, or household registration, a decades-old legacy of the planned economy, binds most Chinese to their place of birth, and denies those outside China’s booming megacities the right to buy property inside them.

That has largely shut them out of one of history’s biggest wealth transfers: 98% of Chinese housing is now in private hands from virtually none a generation ago. Over the past decade, housing prices have increased as much as 700% in cities like Beijing and Shanghai. Property now accounts for 70% of personal wealth in the country. Den Rest des Beitrags lesen »

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Disorder under heaven: America and China’s strategic relationship

Posted by hkarner - 22. April 2017

Date: 20-04-2017
Source: The Economist

After seven decades of hegemony in Asia, America now has to accommodate an increasingly powerful China, says Dominic Ziegler. Can Donald Trump’s administration manage that?

THE LAST TIME China considered itself as powerful as it does today, Abraham Lincoln was in the White House. At that time, and against the mounting evidence of Western depredations, the emperor still clung to the age-old belief that China ruled all under heaven, a world order unto itself. It never had allies in the Western sense, just nations that paid tribute to it in exchange for trade. Both China and “the outside countries”, he wrote to Lincoln, constitute “one family, without any distinction”.

Today, after a century and a half that encompassed Western imperial occupation, republican turmoil, the plunder of warlords, Japanese invasion, civil war, revolutionary upheaval and, more recently, phenomenal economic growth, China has resumed its own sense of being a great power. It has done so in a very different world: one led by America. For three-quarters of a century, America has been the hegemon in East Asia, China’s historical backyard.

But now China is indisputably back. New towers have transformed the skylines of even its farthest-flung cities. An ultra-modern network of bullet trains has, in a few short years, shrunk a continent-sized country. China’s new power rests on a 20-fold increase in economic output since the late 1970s, when pragmatic leaders set in train market-led reforms. Den Rest des Beitrags lesen »

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Trump’s indifference to climate change has not changed China’s view

Posted by hkarner - 22. April 2017

Date: 20-04-2017
Source: The Economist

Once a foot-dragger, it now wants to lead

RESIDENTS have found something else to blame for the toxic smog that envelops many Chinese cities for much of the year. Until recently the culprits that were usually fingered were the obvious ones: emissions from coal-fired power plants, exhaust fumes from cars and dust from building sites. This year, however, reports began to appear in state-run media that climate change is now reckoned to be a factor, too. Chinese scientists say that in eastern China global warming is resulting in less rain and wind to clear the pollutants. The government’s weather bureau illustrated its online account of the discovery with a picture of zombie-looking figures in hazmat suits shrouded by haze.

America’s president, Donald Trump, may have little interest in climate change: Wilbur Ross, his commerce secretary, said the subject was “not a major part of the discussion” when Mr Trump met his Chinese counterpart, Xi Jinping, at Mar-a-Lago, Florida, earlier this month. But in China the government, and increasingly the public, see it as a real danger, responsible for rising sea levels that threaten coastal cities as well as for aggravating droughts in the north, floods in the south and, as it now turns out, the omnipresent smog. Some people wonder whether Mr Trump’s indifference might reduce China’s willingness to take action against climate change. Why bother if the second-biggest emitter of greenhouse gases appears to have lost faith in the cause? Fortunately, there is no sign that China, the biggest emitter, is wavering. Den Rest des Beitrags lesen »

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Why Don’t All Jobs Matter?

Posted by hkarner - 18. April 2017

Date: 17-04-2017
Source: The New York Times Paul Krugman

President Trump is still promising to bring back coal jobs. But the underlying reasons for coal employment’s decline — automation, falling electricity demand, cheap natural gas, technological progress in wind and solar — won’t go away.

Meanwhile, last week the Treasury Department officially (and correctly) declined to name China as a currency manipulator, making nonsense of everything Mr. Trump has said about reviving manufacturing.

So will the Trump administration ever do anything substantive to bring back mining and manufacturing jobs? Probably not.

But let me ask a different question: Why does public discussion of job loss focus so intensely on mining and manufacturing, while virtually ignoring the big declines in some service sectors? Den Rest des Beitrags lesen »

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Trump and Xi: Tensions Turn to Friendship

Posted by hkarner - 14. April 2017

Date: 13-04-2017
Source: The Wall Street Journal

President talks of ‘great chemistry’ with China’s president in Journal interview

President Donald Trump was expansive on Wednesday about his relationship with a world leader he has gotten to know since taking office.

“We have a very good relationship,” he said in a Wall Street Journal interview in the Oval Office. “We have a great chemistry together. We like each other. I like him a lot. I think his wife is terrific.”

The leader who came in for those warm words? Chinese President Xi Jinping.

It’s safe to say very few people saw that coming. China was, as much as any country, the target of Trump broadsides during the 2016 presidential campaign—for not playing fair in the world economy, for taking advantage of the U.S., for stealing American business, for intimidating its neighbors.

Meantime, of course, Russian President Vladimir Putin was the great-power leader who was supposed to emerge as the Trump favorite, the one who would develop a close relationship and be forgiven for past transgressions.

Yet somehow in the five months or so since Mr. Trump’s election victory, almost the reverse has happened. Now it appears the Trump-Xi relationship may be emerging as the world’s most important. Den Rest des Beitrags lesen »

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Crouching Donald, Paper Tiger

Posted by hkarner - 11. April 2017

Photo of Barry Eichengreen

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China Emerges as Powerhouse for Biotech Drugs

Posted by hkarner - 11. April 2017

Date: 10-04-2017
Source: The Wall Street Journal

Global drugmakers join with local Chinese startups to test and create new cancer treatments

SUZHOU, China—A new cancer drug licensed by Eli Lilly & Co.
was discovered by a six-year-old startup on the outskirts of Shanghai, and derived from the ovary cells of Chinese hamsters. Lilly now is planning to test it on Americans.

Rival Merck & Co. aims to test a separate cancer drug in the U.S. this year, created by another startup near the border with Hong Kong.

Those aren’t outliers. China, long the world’s supplier of cheap pharmaceutical ingredients and copycat pills, is emerging as a major producer of important new medicines: biotech drugs. China now boasts the second-largest number of clinical trials involving biologic treatments—produced using biological matter such as animal cells or bacteria—after the U.S., according to data from the National Institutes of Health.

The world’s biggest drug companies have taken notice. Den Rest des Beitrags lesen »

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Welcome to Silicon Delta: Shenzhen is a hothouse of innovation

Posted by hkarner - 8. April 2017

Date: 06-04-2017
Source: The Economist

Copycats are out, innovators are in

ON A RECENT weekend several hundred academics and lawyers gathered in a hotel ballroom in Shenzhen for a discussion on “Innovation, inclusion and order”, an event jointly organised by the law schools at Peking, Oxford and Stanford universities. Legal conferences can be soporific, especially in China, and a scholar from Beijing duly set the tone by asserting that “order is important in the market.” But one of the local speakers livened things up by delivering a surprisingly stout defence of disruptive innovation. Xu Youjun, vice-chairman of the Shenzhen division of the Chinese People’s Political Consultative Conference, a government advisory body, said Shenzhen owed its success not to the government or the Communist Party but to its policy of allowing people to go “beyond the planned economy”. Den Rest des Beitrags lesen »

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What Next for Trump and Xi?

Posted by hkarner - 7. April 2017

Rana Mitter

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The Trump-Xi Strategic Face-Off

Posted by hkarner - 6. April 2017

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