Posts tagged ‘Xi JinPing’

22/03/2013

* China’s Princesslings

Business Insider: “If you follow Chinese politics at all, you’ll have heard of a word that’s become synonymous with corruption and privilege — “princeling”.

China PSC

The term refers to the offspring of Chinese party officials, and is often used to describe those who leverage their family connections into political power.

However, there are signs that these princelings could soon be replaced — by a new, female generation of “princesslings.”

State news agency Xinhua recently released a number of in-depth profiles of high ranking Communist Party officials to celebrate China’s power transition, and observers have noted that a large number of these officials have female offspring.

Amongst those who have daughters are President Xi Jinping and Premier Li Keqiang. Xi’s daughter, Xi Mingze, is said to be a student at Harvard University, where she reportedly studies under a pseudonym and is protected by bodyguards.

According to Chris Luo of the South China Morning Post, Internet users have dubbed the female offspring “princesslings,” and some wonder if these princesslings could do a better job than their male counterparts.

“Daughters are generally well-behaved,” one Weibo user observed. Princelings do not have a reputation for being “well-behaved.”

Bo Xilai, one of the most famous of the group (his father was Bo Yibo, one of the Eight Elders of the Communist Party of China) became the center of a murder scandal last year and was ousted from the party. Bo’s own son has also come under scrutiny for his lavish lifestyle. And it is widely acknowledged that many princeling’s have used their connections to gain lavish fortunes.

If this new generation of princesslings do come to hold power in China, it will be something of a change.

Just 23 percent of Communist Party members are female, and of the 3,000 deputies in the National People’s Congress, 23.4 percent are female. No woman has ever reached the top echelons of Chinese political culture: the Politburo Standing Committee.

But Luo writes that it’s just as likely that the “husbands of these privileged daughters [will] benefit from the political inheritance of their fathers-in-law.”

However, the rise of the princesslings does appear to be another sign of the growing power of women in Chinese life.”

via China’s Princesslings – Business Insider.

22/03/2013

* China’s glamorous new first lady an instant internet hit

The last time a Chinese leader went abroad on an official visit with is wife was probably in the 1940s when Gen Chiang Kaishek was accompanied by his wife Madame Soong Meiling. She so charmed the US, esp President Roosevelt, that she was regarded as China’s unofficial ambassador to the US. The inclusion of the Chinese ‘first lady’ by President Xi is no accident. It is the new leadership’s proclamation that they are breaking with the past in more ways than one. They are no longer just ‘sons of revolutionaries’ but power owners in their own right, leading the world’s second nation which, within the next few decades, will become the world’s first nation.

We don’t know if Premier Li will  also take his wife abroad. But he has sent his own signal as long ago as August 2011 by making a major speech in Hong Kong in fluent English. Another break with tradition where Chinese leaders always addressed foreign events in Chinese no matter how fluent they were in that country’s tongue. This is global diplomacy of the 21st Century. Recognising that English is the international language of trade, commerce, education, technology and, now, of diplomacy.

Reuters: “With a smile on her face, dressed in a simple black peacoat and carrying an elegant unbranded bag, China’s new first lady, Peng Liyuan, stepped into the international limelight on Friday and became an instant internet sensation back home.

Chinese President Xi Jinping (L) and First Lady Peng Liyuan wave as they disembark from a plane upon their arrival at Moscow's Vnukovo airport March 22, 2013. REUTERS/Maxim Shemetov

Stepping off the aircraft in Moscow – the first stop of President Xi Jinping‘s maiden foreign trip since assuming office – Peng’s glamorous appearance and obvious affection for her portly husband caused Chinese microbloggers to swoon.

“So beautiful, Peng Liyuan, so beautiful! How composed, how magnanimous,” wrote one user on China’s popular Twitter-like service Sina Weibo.

“Who could not love such a lady as this and be insanely happy with her?” wrote another.

Taobao, an online shopping site similar to eBay and Amazon, quickly began offering for sale coats in the same style of Peng’s, advertising it as “the same style as the first lady’s”.

Others wondered what brand her bag and shoes were.

“Her shoes are really classic, and who designed her bag?” wrote a third Weibo user.

Peng is best known in China as a singer, and for many years was arguably better known and certainly more popular than her husband.

People who have met her and know her say that Peng is vivacious and fun to be around, though she was ordered to take a back seat after Xi became vice president in 2007 as he was being groomed for state power.

But she is expected to be given high-profile events of her own to attend on Xi’s sweep through Russia, Tanzania, South Africa and the Republic of Congo on a week-long trip, as the government tries to soften the image of China abroad.

Peng has won praise for her advocacy for pet causes, most notably for children living with HIV/AIDS, and may visit charities related to this while abroad.

Unlike the baby-kissing politicians of the West, China’s Communist Party works hard to keep its top leaders from appearing too human – to the point that for many, even their official birthdates and the names of their children are regarded as a state secret.

Xi and Peng are different. Their romance has been the subject of dozens of glowing reports and pictorials in state media.

“When he comes home, I’ve never thought of it as though there’s some leader in the house. In my eyes, he’s just my husband,” Peng gushed in an interview with a state-run magazine in 2007, describing Xi as frugal, hardworking and down-to-earth.

Peng is Xi’s second wife, and the two have a daughter studying at Harvard under an assumed name. Xi divorced his first wife, the daughter of a diplomat.”

via China’s glamorous new first lady an instant internet hit | Reuters.

17/03/2013

* China’s Glamorous First Lady Peng Liyuan Saving the Communist Party With Song

The Daily Beast: “A U.S. president married to a Hollywood celebrity would spark a full-blown media frenzy in America. But China, for one, is not fazed. In 2007, when now president Xi Jinping was named to the Politburo Standing Committee of the Chinese Communist Party (CCP), his wife, Peng Liyuan—a glamorous and wildly popular singer—quietly disappeared from public view.

China's New First Lady Peng Liyuan

Peng, 50, is known for singing soaring patriotic songs in praise of the Communist Party, often while clad in glittering floor-length ball gowns and occasionally in Chinese ethnic minority costume (think Barbra Streisand in Native American garb). She was born in Shandong province, enrolled at Shandong University of Art and Design at age 14, and joined the People’s Liberation Army in 1980, at 18. In 1986 she married Xi Jinping. Her daughter, Xi Mingze, was born in 1992 and stays invisible too (she studies at Harvard under an assumed name).

Peng’s star began to ascend in 1983, when she performed in state broadcaster China Central Television’s inaugural new year’s gala, today the most viewed TV program in the world. (Celine Dion performed at this year’s). Peng sang in the gala almost every year until 2007.

I was working in Beijing for a Chinese government-overseen magazine in 2007. We tried to run a profile describing Xi as “the son of a veteran revolutionary and the husband of Peng Liyuan, a famous singer,” but our censor asked us to delete that line. When we resisted, she forwarded us an email in bold red font from her superior at the Ministry of Commerce, stressing that we weren’t allowed to write about the personal lives of government officials, “especially family background or marital life.” To commit this “rudimentary political error,” he wrote, was to “touch a high-voltage line.”

Chinese government officials have many reasons to avoid revealing their personal sides. Many analysts say the CCP’s power relies on a façade of unity, and that means disappearing into a monolithic, faceless abstraction. Xi’s predecessor Hu Jintao was known for his blandness, but a video unearthed late last year of a smiling, animated Hu in 1984 suggests that his evolution toward inscrutability was purposeful.

It’s also posited that Chinese culture encourages conformity; there is an oft-quoted Chinese expression, “The bird that sticks out its neck gets shot.” Moreover, the idea of a high-profile first wife conjures the ghost of Jiang Qing, Mao’s wife who was also a performer and is widely considered responsible for China’s horrific Cultural Revolution. And, as exposés on the family wealth of Wen Jiabao and Xi have revealed, digging into the personal lives of China’s political elite tends to unearth skeletons.

In the face of this kind of competition, a little stardust from China’s new First Lady might be the Party’s best weapon.

Fast-forward to now: the Financial Times just reported that Peng will not only accompany Xi to the BRICS summit in Durban, South Africa, this month, but will speak there. “She can help China build soft power,” said a source in the piece. Peng also became a Goodwill Ambassador for tuberculosis and HIV/AIDS—a controversial subject in China—for the World Health Organization last year and won a splashy $160,000 China Arts Award in December.

Is Xi Jinping –and the Party at large—embracing American-style politicking? It’s widely opined that Bo Xilai, the charismatic Chongqing Party secretary purged last year, was brought down for being too threateningly populist. Yet, Xi Jinping seems to be styling himself in Bo’s mold. He’s made highly publicized visits around China the last few weeks, intended to echo Deng Xiaoping’s 1992 “southern tour” that jump-started China’s economy, and inspired enthusiastic tea-leaf readings that he’ll be a reformer. Though Bo was kicked down, perhaps the party has learned from his talents.

Pressure is on for the CCP to burnish its image. Overly outsize stars within—or married to—the party can be reined in, but society at large is developing a celebrity culture, and that’s a threat too. More and more, people look up to leaders from business, pop culture, and the Internet. Alibaba founder Jack Ma inspires Steve Jobs–like reverence in China. Real-estate tycoon Zhang Xin is affiliated with the World Economic Forum and the Council on Foreign Relations and is becoming a thought leader. And the rabid following behind Li Yang, founder of Crazy English, is downright cultlike.

These people have the power to influence the masses and could do so in dangerous ways. Kai-Fu Lee, former president of Google China, has microblogged veiled criticisms of the government on his Weibo account, which has over 32 million followers. Yang Lan, the “Oprah of China,” has griped about China’s media censorship (“There are frustrations”) to overseas publications like Marie Claire. And the most popular blogger in China is Han Han, known for his cynical attitude toward Chinese politics and society.

In the face of this kind of competition, a little stardust from China’s new first lady might be the party’s best weapon.”

via China’s Glamorous First Lady Peng Liyuan Saving the Communist Party With Song – The Daily Beast.

15/03/2013

* China confirms Li Keqiang as premier

BBC: “China’s leaders have named Li Keqiang premier, placing him at the helm of the world’s second-largest economy.

Mr Li, who already holds the number two spot in the Communist Party, takes over from Wen Jiabao.

Mr Li was elected for a five-year term but, like his predecessor, would be expected to spend a decade in office.

On Thursday, Xi Jinping was confirmed by legislators as the new president, completing the transition of power from Hu Jintao.

Li Keqiang’s widely-signalled elevation was confirmed by 3,000 legislators at the National People’s Congress, the annual parliament session, in Beijing. He received 2,940 votes to three, with six abstentions.

From humble beginnings, Li Keqiang has risen high in politics, but his career has not been without controversy. During the mid-1990s a scandal of stunning proportions devastated many rural communities in Henan. Thousands of farmers and their families contracted HIV after receiving contaminated blood transfusions. Most infections in the government-backed blood-selling scheme happened before Li Keqiang became the province’s party boss. But he was widely criticised for silencing those speaking out.

Many villagers still travel to Beijing every year to protest about the issue. One demonstrator told the BBC she hoped Li Keqiang would pay more attention, saying she had still not received any compensation. But others have seen a different side to the politician. One gay-rights activist told the BBC that Li Keqiang was very “easy-going” during a recent meeting. “He didn’t act at all like a government official,” said Kong Lingkun. “During the discussion he wanted everyone’s opinion and he encouraged us to speak freely.”

China’s new premier likes to project an image that he’s modern, sophisticated and ready to listen. But he has also shown he can be ruthless when the party’s reputation is at risk.

As premier, he will oversee a large portfolio of domestic affairs, managing economic challenges, environmental woes and China’s urbanisation drive.

The appointments seal the shift from one generation of leaders to the next. A raft of vice-premiers and state councillors will be named on Saturday, before the NPC closes on Sunday.

Mr Li, 57, who is seen as close to outgoing leader Hu Jintao, speaks fluent English and has a PhD in economics.

He has called for a more streamlined government, eliminating some ministries while boosting the size of others.

The son of a local official in Anhui province, he became China’s youngest provincial governor when he was tasked to run Henan.

But his time there was marked by a scandal involving the spread of HIV through contaminated blood.

Mr Li is expected to end the NPC with a press conference on Sunday, given by Wen Jiabao in the past.

via BBC News – China confirms Li Keqiang as premier.

14/03/2013

* Xi Jinping named president of China

BBC: “Leaders in Beijing have confirmed Xi Jinping as president, completing China’s 10-yearly transition of power.

Mr Xi, appointed to the Communist Party’s top post in November, replaces Hu Jintao, who is stepping down.

Some 3,000 deputies to the National People’s Congress, the annual parliament session, took part in the vote at the Great Hall of the People.

The new premier – widely expected to be Li Keqiang – is scheduled to be named on Friday, replacing Wen Jiabao.

While votes are held for the posts, they are largely ceremonial and the results very rarely a surprise.

Mr Xi, who bowed to the delegates after his name was announced but made no formal remarks, was elected by 2,952 votes to one, with three abstentions.

He was named general secretary of the Communist Party on 8 November and also given the leadership of the top military body, the Central Military Commission.

China’s parliament engaged in a political ceremony that involved all the hallmarks of a real election: a ballot box, long lines of delegates queuing to vote, and a televised announcement of a winner. However, no-one was surprised to hear the results: with a whopping 99.86% of the vote, Xi Jinping was anointed President of the People’s Republic of China and Chairman of the People’s Liberation Army.

In November, Mr Xi was elevated to the top spot in China’s Communist Party. However, he did not become the country’s official head of state until his candidacy was approved by China’s parliament.

According to China’s constitution, almost 3,000 NPC delegates are allowed to “elect” candidates for the state’s top positions. However, in practice, delegates merely endorse the names put forward by the party.

Perhaps the only interesting result of the election is that Mr Xi did not receive 100% of the ballot. One person voted against him and three people abstained. The result leaves some in China to wonder: perhaps, in an act of modesty, Mr Xi voted against himself.

This vote, handing him the role of head of state, was the final stage in the transition of power to him and his team, the slimmed-down, seven-member Standing Committee.

The largely symbolic role of vice-president went to Li Yuanchao, seen as a close ally of Mr Hu and a possible reformist.

The 61-year-old, who is not a member of the Standing Committee, has in the past called for reforms to the way the Communist Party promotes officials and consults the public on policies.”

via BBC News – Xi Jinping named president of China.

12/03/2013

* China’s Xi flexes muscle, chooses reformist VP

Reuters: “A reformist member of China’s decision-making Politburo, Li Yuanchao, is set to become the country’s vice president this week instead of a more senior and conservative official best known for keeping the media in check, sources said.

Xi Jinping (front), general secretary of the Central Committee of the Communist Party of China (CPC), and Li Keqiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier, arrive at the third plenary meeting of the first session of the 12th National People's Congress (NPC) held at the Great Hall of the People in Beijing March 10, 2013. REUTERS/China Daily

Li’s appointment would be a sign that new Communist Party leader and incoming president Xi Jinping‘s clout is growing, a source with ties to the leadership said. Xi fended off a bid by influential former president Jiang Zemin to install propaganda tsar Liu Yunshan in the job, the source said.

Jiang was a major power behind the scenes in the administration of outgoing President Hu Jintao.

The post of vice president is largely symbolic. However the job would raise Li’s profile, give him a role in foreign affairs and further bolster Xi, who took the top jobs in the party and military at the Communist Party congress in November.

The promotion of Li may also signal a willingness on the part of Xi to pursue limited reforms that Li is known to have advocated in his previous posts, such as making the selection of Communist officials more inclusive.”

via China’s Xi flexes muscle, chooses reformist VP: sources | Reuters.

10/03/2013

* China scraps railways ministry in streamlining drive

BBC: “China has dissolved its powerful railways ministry in a raft of measures aimed at boosting government efficiency and tackling corruption.

Travellers at the Beijing West Railway Station, Jan 2013

The railways ministry, which has been criticised for fraud and wasting funds, now comes under the transport ministry.

The family planning commission, which oversees the controversial one-child policy, joins with the health ministry.

China is holding its National People’s Congress, which will cement its once-in-a-decade leadership change.

Communist Party chief Xi Jinping will become president, replacing Hu Jintao, while Li Keqiang will replace Wen Jiabao as premier.

In his work report, which opened the congress last week, Mr Wen promised stable growth, anti-corruption efforts and better welfare provision.

The latest streamlining of ministries reflects the public’s and leadership’s concern at corruption and the wasteful overlapping of bureaucracy.

State Council Secretary-General Ma Kai told the congress that “breach of duty, using positions for personal gain and corruption” had not been effectively tackled.

 

He said poor supervision had led to “work left undone or done messily”.

Mr Ma said that overlapping of duties within various ministries had often led to officials passing the buck.

The streamlining abolishes four bodies and cuts the number of ministries by two to 25. The food and drug administration will become a fully fledged ministry, following a number of tainted product scandals.

The railways ministry has been slow to change.

Former railways minister Liu Zhijun was sacked in 2011 and is facing corruption charges.

The new structure will place construction and the management of services under the new China Railway Corp, while safety and regulation will come under the transport ministry.

It is unclear whether placing the family planning commission under the health ministry indicates a rethink of the one-child policy.

However, the Communist Party says it will continue to set policy on the issue, with family planning continuing “on the basis of stable and low birth rates”.

A number of maritime agencies are to be pulled into a single administration as China faces rising disputes over sovereignty in the East and South China seas.

The National Oceanic Administration will have control over the coastguard forces, customs and fisheries enforcement.

The two media watchdogs, the General Administration of Press and Publication and the State Administration of Radio, Film and Television, will also be merged.”

via BBC News – China scraps railways ministry in streamlining drive.

09/03/2013

* Where Have China’s Workers Gone?

Bloomberg: “Xi Jinping and Li Keqiang are taking over China’s leadership at a time when growth has slackened and labor issues have become more complex.

China's Disappearing Surplus Labor

Reports that businesses such as Foxconn Technology Group are raising wages and struggling to recruit workers in China have intensified debate over just how many surplus workers the country still has. Meanwhile, a boom in college-educated Chinese has raised concerns of an impending threat to U.S. competitiveness. These seemingly disparate concerns about China’s labor force are actually linked by common underlying factors, with critical implications for China’s ability to remain the growth engine of the world.

China’s large pool of surplus labor has fueled its rapid industrial growth. Now this “demographic dividend” may be almost exhausted, and its economy reaching a Lewis turning point: a shift named after the Nobel prize-winning Arthur Lewis, who was the first to describe how poor economies can develop by transferring surplus labor from agriculture to the more productive industrial sector until the point when surplus labor disappears, wages begin to rise and growth slows.

Citing periodic labor shortages and unskilled wages that have risen since 2003, prominent Chinese economists suggest that time has come. The International Monetary Fund disagrees and puts the turning point much later — between 2020 and 2025, based on a model analyzing labor productivity. A third view is that China’s surplus labor is still plentiful, given that about 40 percent of the labor force is still underutilized in the rural sector, mostly in agriculture, which accounts for only 10 percent of gross domestic product.

Mobility Restrictions

In China, many market imperfections impede the mobility and use of labor. Thus, actual availability may fall far short of what is potentially available. The hukou residency system that restricts migrant workers from accessing services where they are employed is the most glaring example of this kind of imperfection. Less obvious is the extent to which China’s rural- support policies, including subsidy programs, may be encouraging workers to stay in agriculture longer than they should.

Surplus workers may not be in agriculture as in the original Lewis model but in smaller towns, underemployed at depressed wages. The result is that China has the highest rural- urban income disparity in the world.

Why don’t these workers move to more productive jobs in more dynamic settings? In formal terms, it is because their “reservation wage” has increased — that is, the minimum wage they demand to move is much greater than their current wage, because for a generation that didn’t experience the hardships of the Mao Zedong era, the monetary and emotional costs of relocation have risen. Many workers won’t move to major cities that lack affordable housing. They may also have rights to land that can’t be sold for full market value — thus, staying in familiar surroundings is now a more attractive proposition.

If recent decades saw a huge migration that “brought workers to where the jobs are” along the coast, the future may mean the reverse, involving “bringing the jobs to where the workers are” with profound implications for China’s economic geography.

In lesser known provinces such as Henan, with a country- sized population of 100 million, large numbers of young workers seek factory positions but are unwilling to relocate to seemingly foreign places in coastal China. As China becomes more consumption-oriented with rising incomes and urbanization, the center of economic gravity will naturally move inland where two- thirds of the population resides.

College Graduates

Just as young workers are demanding more satisfying jobs, they also increasingly feel entitled to a college education. Government policy has expanded access to higher education. From 2000 to 2010, the percentage of college-age cohorts enrolled in universities more than tripled in China, a rate of increase far above that of India, Malaysia and Indonesia. China wants to produce 200 million college graduates by 2030; they will make up more than 20 percent of the projected labor force, more than double the current ratio. The push to expand higher education means the number of college-educated has leapfrogged — and excessively so — ahead of those holding only vocational or junior college degrees.

These college-educated workers are unwilling to settle for factory work and compete for office-based positions. College graduates are four times as likely to be unemployed as urban residents of the same age with only basic education, even as factories go begging for semi-skilled workers. Given the underdeveloped service sector and still-large roles of manufacturing and construction, China has created a serious mismatch between skills of the labor force and available jobs.

As the economy moves up the value chain, substituting more capital-intensive manufacturing for unskilled labor-intensive assembly, a shortage of semi-skilled workers is appearing. But the excessive growth of college graduates has outpaced the structural transition and prematurely shifted the labor supply from semi-skilled manufacturing workers to more knowledge- intensive service professionals. More emphasis on vocational training and industry-specific engineering skills will help China fill its immediate need for manufacturing workers.”

Yukon Huang and Clare Lynch are, respectively, a senior associate and a junior fellow at the Carnegie Endowment. The opinions expressed are their own.

via Where Have China’s Workers Gone? – Bloomberg.

04/03/2013

* Reforms and Restructuring at the Chinese NPC Session: Managing Expectations

China Policy Institute: “This year’s Lianghui, the National People’s Congress (NPC) and People’s Political Consultative Conference (PPCC), is important in the sense that a new government will be “sworn in”.

npcd

Following last November’s Party Congress, the Premier-in-waiting will be confirmed at the NPC session. He will take up his position together with a whole new cabinet—following the forming of a new Central Committee of the Party, ministers are expected to be reappointed as well, with a five year term ahead.

But the more critical question is what policy initiatives will the new government press ahead in order to show that it is the right government for the country. The new Party leadership emerged out of the last November’s Party Congress carries a strong mandate of “reform”. Now that the honeymoon effect between the new leadership team and the country is starting to fade away, citizens are watching carefully what the leadership indeed has to offer in terms of real actions.

Before the Party’s Congress, there was already indication that the new leadership team would take structural reforms quite seriously. There was indication that Xi Jinping was already commissioning reform proposals throughout the last 1-2 years. Li Keqiang, to be confirmed as Premier at this Lianghui, was also quick to signal that he was a reform guy and his government will take concrete reform measures. But it will be too early to expect the leadership team to roll out a comprehensive reform plan at this Lianghui. Between the conclusion of November’s Party Congress and this Lianghui, there was simply not enough time to forge a consensus among the Party elite.

The main preoccupation of the last three months have been lining up the provincial leaders and working out the political appointments of state agencies, which will be unveiled at the end of the NPC session. In fact, the Party Plenum (the second of this new Central Committee) that closed last night (28 Feb 2013) explicitly said in its communique that it had agreed on the political appointment list for state agencies. It did not give explicit promises of reform policies that are soon to come.”

via China Policy Institute Blog » Reforms and Restructuring at the NPC Session: Managing Expectations.

04/03/2013

* China: The next phase of growth

China Policy Institute: “As the new Chinese leadership takes over, their biggest economic challenge remains generating growth for another 30 years. In addition to re-balancing the economy and stimulating more productivity, a key aspect will be the re-defining the role of the state. After over 30 years of marketisation and reform, China remains a mixed picture of state-led policies and a growing number of facially neutral laws with some exemptions for state-owned enterprises.

lyuIn addition, the state-owned commercial banks continue to benefit from official “financial repression” policies, such as the preservation of a spread between lending rates and deposit rates. It helps to generate margins for banks and facilitate their recapitalisation. This policy also enables the state-owned commercial banks to continue to support government policies ranging from fiscal stimulus to supporting state-owned enterprises, though not without cost to overall economic growth as financial repression distorts the allocation of capital.

The high levels of capital formation (some 40% of GDP) in the past two decades and the inefficient allocation of capital away from more productive private firms are worrying. The Twelfth Five Year Plan (2011-15) plans to re-balance the economy towards greater domestic demand and less of a reliance on exports. A key part of the plan is to increase consumption and other parts such as more urbanization and services development would support investment in developing larger urban areas where migrants can settle and government services can be dispersed more efficiently.

This plan in actuality has an implicit 30 year time horizon as these policies of migration, urban development and boosting consumption cannot be achieved in a short time period. Unless China can re-orient its growth model including towards more efficient investments by private firms, then it could find it difficult to sustain a strong growth rate. Part of this challenge will include creating a more secure welfare state.”

via China Policy Institute Blog » The next phase of growth.

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