Posts tagged ‘Cultural Revolution’

18/06/2016

Study Finds China’s Ecosystems Have Become Healthier – China Real Time Report – WSJ

China’s skies may be toxic, and its rivers fetid and prone to sudden infestations of pig carcasses. But according to a new study, the country’s environmental battle has also been making quiet, measurable progress.

The paper, a collaboration between U.S. and Chinese researchers published in this week’s issue of Science, found that China’s ecosystems have become healthier and more resilient against such disasters as sandstorms and flooding. The authors partly credit what they describe as the world’s largest government-backed effort to restore natural habitats such as forests and grasslands, totaling some $150 billion in spending since 2000.

“In a more and more turbulent world, with climate change unfolding, it’s really crucial to measure these kinds of things,” says Gretchen Daily, a Stanford biology professor and a senior author on the paper.

The study didn’t examine air, water or soil quality, all deeply entrenched problems for the country.

Beijing’s investments in promoting better ecosystem protection were triggered after a spate of disasters in the 1990s. In particular, authors note, two decades after China started to liberalize its economy, rampant deforestation and soil erosion triggered devastating floods along the Yangtze River in 1998, killing thousands and causing some $36 billion in property damage.

The government subsequently embarked on an effort to try to forestall such environmental catastrophes. According to the study, in the decade following, carbon sequestration went up 23%, soil retention went up 13% and flood mitigation by 13%, with sandstorm prevention up by 6%.

The paper also involved authors from the Chinese Academy of Sciences and the University of Minnesota, among other institutions. Data was collected by remote sensing and a team of some 3,000 scientists across China, said Ms. Daily, who praised the “big-data” approach to tracking the quality of China’s ecosystems.

“The whole world is waking up to the need to invest in natural capital as the basis for green growth,” she said.

Reforestation was one particular bright spot, she said. Under the country’s founding father, Mao Zedong, China razed acres of forests to fuel steel-smelting furnaces. To reverse the trend–and combat creeping desertification in the country’s north — the country embarked on a project in 1978 to build a “Great Green Wall” of trees. Today, authorities say that 22% of the country is covered by forest, up 1.3 percentage points compared with 2008.

The authors note that the study has limits. While China has reported improving levels of air quality in the past year, urban residents still choke under regular “airpocalypses.” The majority of Chinese cities endure levels of smog that exceed both Chinese and World Health Organization health standards.

“You can plant trees till the end of time,” says Ms. Daily. “But they’ll never be enough to clean up the air.”

Source: Study Finds China’s Ecosystems Have Become Healthier – China Real Time Report – WSJ

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27/05/2016

What Can Be Learned From China’s Monetary Past – China Real Time Report – WSJ

China’s decline as a great power in the 19th century wasn’t the fault of imperialism and opium. It was bad monetary policy, after all.

English: Qing emperor Jiaqing

English: Qing emperor Jiaqing (Photo credit: Wikipedia)

So says Werner Burger, a numismatic historian and Sinologist who has published a detailed history of money in the Qing Dynasty, entitled “Ch’ing Cash.” Mr. Burger has spent his professional life tracking down details of nearly every coin minted in China over three centuries. After three decades of making official requests, it wasn’t until 1996 that Beijing granted him access to the previous century’s imperial mint reports, the modern equivalent to central bank money supply statistics.

His conclusion: The Jiaqing Emperor, By letting the fakes infiltrate the economy, the Jiaqing emperor and his successors allowed the effective exchange rate for standard brass Chinese coins to swell from the official rate of 1000 per unit of silver to as high as 2500. Soldiers wages were effectively halved, giving them little incentive to fight the various battles against Western colonizers.

Mr. Burger refutes the notion that China’s trade with the United Kingdom, which for a time involved China sending silver to the U.K. in exchange for opium, was responsible for the debasement. He said the amount of silver sent abroad didn’t affect the exchange rate, noting a mid-century period of three decades when China actually experienced silver inflows.

Amid such currency instability, “all attempts at economic reforms and progress were bound to fail. China had no chance to catch up with the rest of the world and so lost a whole century to corruption and greedy officials,” says Mr. Burger.

For investors who want to learn from China’s past mistakes, the two volume history will cost a pretty penny: $800.

Source: What Can Be Learned From China’s Monetary Past – China Real Time Report – WSJ

01/04/2016

Beware the cult of Xi | The Economist