CRISIS FOCUS The Euro’s Uncertain Future

The euro recently dipped as risks with European Union members proliferated, giving rise to warnings against a euro crisis in the near future. But is the euro doomed to fail? And what are the short-     

CRISIS FOCUS An Exporting Way Out?

With a consumer base increasingly hesitant to readopt spending habits,the U.S. economy seems to be caught in a tight spot. But the country still boasts a solid manufacturing base and remains a world leader in technology. So is it possible for the United States to switch to an export-driven growth model,and what efforts should be made for such a transition? Zhao Zhongwei,a senior researcher with the Institute of World Politics and Economics under the Chinese Academy of Social Sciences,discussed these issues ...     

CRISIS FOCUS Following in Greece’s Footsteps

Ireland has become the latest European country to add its name to the list of recipients of financial aid from the EU and IMF and face protests concerning its austerity program. The country was given an 85-billion-euro ($113-billion) bailout     

CRISIS FOCUS—Can the Economy Be Saved?

With its export sector stuck in a freefall and a slowdown in the real economy looming, the Chinese Government has spared no rescue efforts. A 4-trillion-yuan ($586-billion) spending plan, repeated interest rate cuts and looser regulations for the real estate sector are just three of the actions the government has taken in the past months to boost the economy. But which one will be the most helpful? How long will it take for the economy to rebound? Li Yining, a renowned economist in the country, discussed th...     

The 'Double Dip' Terror?

Fears over a double dip recession of the world economy have become more abundant recently,but the scare is not unfounded-certain economic risks may be inevitable.But what are these risks? And where is the world economy heading in the second half of this year? The latest Standard Chartered Global Focus,a monthly analysis of economic and financial market developments by Standard Chartered Bank,provided answers to these questions.     

The ‘Tianxia Trope’: will China change the international system?

The tianxia trope has been advanced as an organizing principle for post-Cold War international relations encompassing the rise of the People's Republic of China. The tianxia system is defined as a Sino-centric hierarchical relationship among unequals, governed according to Confucian principles of benevolence. As traditionally practiced, it incorporated an important role for the observance of ritual, including the presentation of tribute to the emperor as Son of Heaven, purportedly resulting in a Pax Sinica. Its supporters believe that, if adopted in today's world, tianxia would constitute a great improvement over the anarchic Westphalian system of theoretically equal states who possess sovereignty, i.e. inviolability within their own borders. Because they answer to no superior authority, the Westphalian system is by its very nature conducive to discord and war. This article will argue that both the tianxia and Westphalian systems have serious flaws and were rarely practiced as either their proponents or detractors argue. However, even states whose domestic autonomy is compromised by internal dissent and whose weaknesses prevent their playing an influential role internationally have vested interests in maintaining adherence to the Westphalian system, if only as a bargaining position. The PRC government itself has accepted the principles inherent therein through such actions as joining the United Nations and becoming a signatory of the Five Principles of Peaceful Coexistence. It zealously defends its sovereign prerogatives when useful, even as it makes efforts to educate the world on the virtues of a Confucian Great Harmony, and its supporters advocate following a somewhat nebulously defined Chinese model. In the absence of compelling incentives for major players in the current international system to adopt the tianxia system, Westphalian sovereignty appears likely to remain the organizing principle of international relations for the foreseeable future, its serious deficiencies notwithstanding. To paraphrase Winston Churchill's remarks on democracy, it may be the worst form of government except for all the others.     

The ‘Diamond’ Decade

China and ASEAN’s ambitious plans to bolster their economic ties could turn the Asia-Pacific into the world’s largest free trade area Imagine this:A free trade area spanning China to Japan,across to India down to New Zealand,a region covering a hulk of the AsiaPacific,its diversity of nations,political systems,languages,religions and cultures.Given that     

Can ‘Mixed Living’ Narrow The Rich-Poor Gap?

In order to tackle marginalization of low-income earners and eliminate psychological estrangement between the rich and the poor, the government of Lanzhou in northwest China’s Gansu Province     

Will or Won’t the RMB-Greenb Rate Dip Below 6?

THE Renminbi entered 2013 with gusto, the spot Yuan/US$ rate hitting 6.2216-strongest since China’s 2005 exchange reform and also a 19-year high. This market hotspot might presage a rate lower than the RMB 6 benchmark.The exchange rate reflects the exter-     

The Priority Is ‘Soundness’

It has been put forward in the Central economic growth is an innovation made on Economic Work Conference that China’s the basis of years of experience in China’s economy is to be developed in a sound and economic growth, which also enriches the rapid way, where “soundness” is particular- people-first outlook on development. ly stressed, different from the past emphasis For quite a long time in the future, given onthe growth rate. Theemphasis on “sound- the actual situation in China’s e…     

The ‘New Normal’ Economy

The Davos forum explores implications of regulations amid discussions of a newworld economic order The 40th World Economic Forum,     

How to Keep The‘APECBlue’

正The blue skies overhanging Beijing during the2014 APEC Economic Leaders’Meeting were but a memory on November 19,as a wave of smog once again enveloped the city.The disappearance of the"APEC blue"that had lasted two weeks means the specter of air pollution now looms large in the public consciousness.Although President Xi Jinping expressed desire at the end of the forum for the APEC blue to     

Implications of The ‘New Normal’

<正>Slowing growth rates in both developed and emerging economies will pose challenges in 2015 The global economy faces an uncertain future in 2015,marked with the prospect of weak growth.Challenges include a potential rate hike by the Federal Reserve,low bulk commodity prices in the international market and growing risksamong emerging economies.These trends     

The Political Economy of Compassion: China's ‘charity supermarket’ saga

With a focus on Tianjin, this article examines the recent widespread establishment of ‘charity supermarkets’ in China's cities. Inspired by the example of certain ‘thrift shops’ in the US, charity supermarkets were set up for the purpose of assisting the urban poor. Several contrasting contemporary discourses within China concerning poverty, charity, business, and the proper roles of the market, state, and community in the delivery of social welfare are explored. The differing perspectives revealed throw an interesting light on why China's charity supermarkets have not, so far, developed as anticipated. This interesting urban social experiment is analyzed as a case study in the potential to achieve effective ‘mutual empowerment’ of state and society in the contemporary Chinese context.     

The Debate over ‘Universal Values’ in China

This article analyzes the background and significance of ‘universal values’, which have emerged and been debated in China over the last two years. Interest in this topic originates from the increased international mindset and the intensified call for political reform at the start of the twenty-first century. The cooperative approach of the leaders of the Communist Party of China regarding international affairs, as well as the spread of the Internet, has also provided conditions for the formation of ‘universal values’. Such an ideology has been criticized by conservatives. The debate has focused on whether democracy, liberty, human rights and humanities are universal values shared by all human beings. It marks a step forward in the awareness of democracy for the Chinese people.     

The Secrets to the ‘Garden City’ Success

Dubbed a garden city by the sea, Xiamen is famous for its beautiful sceneries and clean and livable environment.Yu Weiguo,Secretary of the Xiamen Municipal Committee of the Communist Party of China,talked about the city’s latest efforts     

Useful Opium? ‘Adapted religion’ and ‘harmony’ in contemporary China

Pragmatism has been a leading feature of Communist Party policies since Mao Zedong's death. The attitude to religion has been something of an exception with many restrictions to the freedom of religion stipulated in the constitution. In recent years, while stressing the ‘harmonious society’, there has been a change in the view of religion. Recognizing the ‘spiritual vacuum’ in China after Mao, the party has seen the need for a controlled spiritual development that could also support the economic development. However, in this process the party has tried to control not only religious activity but also religious content and to use it for its own purposes. This is in direct opposition to Marx and Lenin's views on ‘religion as opium’ and indicates that the party is de facto using ‘a reversed opium theory’.     

Is a ‘National Reading Day’ Necessary to Promote The Love of Reading?

Books are the ladder of humanprogress, but the Chineseseem to have for gotten thi spearl of wisdom from theirown past. In the last six years     

Time to Cancel ‘35’ Recruitment?

Cancelling the age threshold of 35 for civil service recruitment has once again become a trending topic in Chinese society. Nowadays, those in their mid-30 s are called senior citizens in certain fields such as the IT industry, and many are repeatedly dismissed once they reach this ceiling. Even company managers and unit heads have little hope of being promoted once they hit 35.     

Is‘Made in China’ Bust?

正The manufacturing industry will undergo a disruptive,but creative period China is facing challenges in its economic horizon.The sharp fluctuations of its stock and foreign exchange markets in January have cast a gloomy light on its fnan-