Premier Li to attend Summer Davos forum

Chinese Premier Li Keqiang will attend the Summer Davos Forum in northeast China's Dalian city from Sept. 9 to 10, Foreign Ministry spokesperson Hua Chunying announced on Friday. Hua said in a press release that Premier Li will address the opening ceremony of the annual forum, also known as the 2015 New Leaders Meeting of the World Economic Forum. The annual event is held alternatively in Dalian and Tianjin Municipality.Source: China.org.cn, Summer Davos' to eye economic growth: Final preparations

A staff member works at the conference hall of 2014 New Leaders Meeting of the World Economic Forum in Tianjin on September 9, 2014. The New Leaders Meeting, also known as the Summer Davos forum, was held in Tianjin from September 10 to 12, 2014. [File Photo: Xinhua]

are underway for the upcoming "Summer Davos" sessions in the city of Dalian next week. This year's discussions will include a focus on both Chinese and global economic growth, along with technological innovation. Around 17-hundred business and political leaders from more than 90 different countries are expected to attend the three-day gathering, which is set to get underway on September 9. The Chinese cities of Dalian and Tianjin alternately host the annual Summer Davos sessions. 'Source: China.org.cn, Image: flickr.com

Read More........ → September 05, 2015

US-China challenges beyond 2015

By Dan Steinbock: In the near-term, Washington must manage austerity with pro-growth policies, even amid secular stagnation. In turn, Beijing seeks to manage local debt challenges with subdued but solid growth. In both the United States and China, policy outcomes have far-reaching, global implications. The U.S. budget deal: avoiding downside risks in 2014 After weeks of private talks, House and Senate negotiators, led by Sen. Patty Murray (D-WA) and Rep. Paul Ryan (R-WI), struck a budget agreement. The latter would replace $63 billion of the sequestration cuts slated for 2014-15 with alternative savings measures. The bipartisan objective was to surpass the 2011 budget-cutting law, particularly the automatic spending cuts (the so-called ‘sequester’), to avoid still another government shutdown and to ensure some stability to fiscal policy-making over the next two years. In contrast to the once-hoped for “grand bargain,” the new plan is modest. While it was designed not to redesign the tax code and not to touch federal entitlement programs, it seeks to ensure more spending for domestic and defense programs in the short-term. The costs will be offset by embracing deficit-reduction measures over a decade. But although the budget deal was promoted as a rare bipartisan breakthrough, it was neither rare nor a breakthrough. To defer the next debt crisis, Washington is resorting to still another timeout. While 203,000 jobs were created in November, a robust recovery would require 200,000-300,000 new jobs per month. Further, unemployment rate remains 7 percent, while alternative unemployment, which includes both the unemployed and the under-employed, is still 13.2 percent. Despite 45 months of private-sector job growth and half a decade of quantitative easing (QE), the labor force participation rate – those aged 16 and over who are working or

Tying the knots [By Jiao Haiyang/China.org.cn]

actively looking for work – is 63 percent, the lowest since 1978. Concurrently, the share of the population with a job has collapsed to 58.6 percent. Most importantly, the budget deal, in its original form, leaves unaddressed the renewal of expanded unemployment benefits for the long-term unemployed. Indeed, the deal could cause 1.3 million Americans now receiving these benefits to receive none after Christmas, while 5 million jobless workers could be left in the lurch in 2014. While Washington hopes that economic growth should quicken, annualized growth is likely to remain less than 2 percent in 2013 and at best around or above 2.5 percent in 2014-15. Further, any premature tapering in the next 3-4 months could accelerate downside risks. Indeed, the Fed may not consider hiking rates until unemployment rate plunges to 6.5 percent, which is not likely to occur until late 2014. Consequently, the Fed may continue its third round of QE until March 2014, while record-low policy-rates could prevail well until the end of 2015. The bipartisan budget deal is designed to avoid the downside risks – not to realize the upside potential. The Chinese reforms: ensuring upside potential in 2014 When the budget deal was announced in Washington, the annual Central Economic Work Conference began in Beijing, only a month after the Chinese leadership officially launched the reform plans during the Party’s Third Plenum. During the Chinese leadership transition, most analysts in the West argued that reformers had lost in Beijing. In reality, China opted for tough leaders who could implement broad reforms. In particular, President Xi Jinping and Premier Li Keqiang are decisive economic reformers. If the Third Plenum outlined the official broad contours of China’s economic policies for 5-10 years ahead, the Work Conference shall determine the objectives in the near-term. At the Plenum, the reform proposals focused on tripartite reforms comprising the market, government and corporations. The eight core sectors include finance, taxation, state assets, social welfare, land, foreign investment, innovation and good governance. Further, the reform blueprint seeks to relax control over market access, establish a basic social security package and allow sales of collectively-owned rural land. With new urbanization, the old household registration system (hukou), which continues to discourage migration, will be gradually phased out. The reform plans are moving in parallel with increasing financial deregulation, which, in turn, is supported by the recent launch of Shanghai’s free-trade zone (FTZ). While the FTZ advocates seek to make the renminbi fully convertible in the next few years, Beijing’s reformers hope to make the Chinese currency into a major international currency and a reserve currency, in the next few years. The Work Conference, too, reflects the ongoing shift away from extensive growth, which relied on investments and net exports for three long decades, toward intensive growth, which will be built on consumption, innovation and sustainability in the medium-term. However, even the new reforms are predicated on adequate economic growth, which is deemed to require 7.5 percent growth in the next two years. Nonetheless, Premier Li Keqiang’s 7 percent bottom-line target in 2014 is likely to require stronger than anticipated credit and investment growth. Elusive calm through 2014-15: Thanks to the House and Senate negotiators, the budget deal has the potential to ensure stability until the mid-decade in the United States. In order to deliver their compromise, however, mainstream constituencies in each party must keep their vocal and extremist minorities in line. This will not be easy because the mid-term elections are no longer and the end of the Obama era is looming. Instead of a sustained solution, the bipartisan negotiators have set aside the critical debt-reduction objectives, even though U.S. debt amounts to $17.3 trillion and U.S. total debt already exceeds $60.2 trillion. Total interest for 2013 alone amounts to $2.6 trillion, which is more than all three largest budget items combined – that is, Medicare/Medicaid, social security, plus defense expenditures. China, too, remains haunted by difficult challenges. In particular, Beijing must manage its growth transition, even as it seeks to contain local debt that soared as collateral damage from the 2009 stimulus package. While probabilities for hard landing are fading for 2014-15, deleveraging challenges loom thereafter. Further, if local government deleveraging, along with legacy debts, begins already in late 2014, the potential for downside risks could increase after mid-decade. What Washington has not achieved is an accord on a sustainable, long-term blueprint for tax and spending policies over the next decade. That would require credible, bipartisan cooperation over a medium-term debt/deficit plan. What China has not achieved yet is a detailed blueprint for local debt management over the next few years. That requires decisive consensus in Beijing, which does exist, but also tough implementation at local level and across Chinese provinces, which is more challenging to achieve. The last thing the ailing Europe and Japan, and the slowing large emerging economies need is still another U.S. debt debacle, or a protracted slowdown in China. However, if the looming post-2014-15 challenges can be overcome, global prospects could be blessed by another period of slower, though more sustainable growth and increasing prosperity. Dr. Dan Steinbock is Research Director of International Business at India China and America Institute (USA) and Visiting Fellow at Shanghai Institutes for International Studies (China) and the EU Center (Singapore). See also www.differencegroup.net. Source: China.org.cn

Read More........ → January 05, 2014

China urges US to respect air zone

Photo: RIA Novosti

Chinese leaders urged the United States to respect the establishment of a new air defence identification zone (ADIZ) with an "objective and fair attitude," the Foreign Ministry said on Thursday. The call to respect the zone was made during talks with US Vice President Joe Biden, who met President Xi Jinping and Vice President Li Yuanchao on Wednesday, ministry spokesman Hong Lei said. Biden was scheduled to meet Premier Li Keqiang on Thursday after telling Xi that US leaders "don't recognize the zone, that we have deep concerns about it," a US official said. Biden "indicated to Xi that we are looking to China to take steps to lower tensions," including the opening of communication with Japan, the official said. Declared on November 23, the zone covers the Japanese-controlled Senkaku islands, which lie near oil and gas reserves and are claimed by China as the Diaoyu and Taiwan as the Tiaoyutai. Biden held talks in Tokyo on Tuesday with Japanese Prime Minister Shinzo Abe. He is scheduled to travel to Seoul later Thursday to meet South Korean leaders, who have also expressed concern about China's move. Voice of Russia, dpa, Source: Article

Read More........ → December 30, 2013

'Reforms in China will happen' - expert

China’s leadership is promising wide-range reforms in the country that will give markets a “decisive” economic role. A communiqué issued by China’s ruling elite at the end of a four-day meeting reinforced the reformist rhetoric of President Xi Jinping signaling an eventual end to state-mandated prices in the world’s second-largest economy. The Voice of Russia talked to Mr Francesco Sisci from “il Sole 24 ore”, an Italian national daily business newspaper.

A four-day session of top Communist officials in China had been touted for months as a make-or-break moment for reform, expected to produce a plan for how to revamp the Chinese economy so it depends more on domestic demand and less on exports abroad and heavy government spending back home. The communiqué called for fewer investment restrictions, greater rights for farmers and a more transparent system for local and national government taxing and spending—all areas where economists say China badly needs reform. But instead of specific plans the communiqué ambiguously emphasized the need to "encourage, support and guide" the private sector, while at the same time reaffirming "the leading role of the state-owned economy." China is under pressure to replace a growth model heavy reliant on investment and exports, since, after three decades of exponential growth, the country's economy is now slowing down. The first policy blueprint from President Xi Jinping a year into his reign said : ’Market forces would play a major role in the economy’. But also said: ‘The Communist Party’s hands need to stay strong’. These contradictions hint on a difficult role to head for economic reforms in China. Let’s try and get more insight on this as we are joined live on the phone from Beijing by Mr Francesco Sisci,who is a commentator for “il Sole 24 ore”, an Italian national daily business newspaper. First of all, let me ask you this: the communiqué is rather ambiguous in its statements, so do you think we should really expect major changes in the functioning of the Chinese economy in the near future? I think, yes. I think the communiqué is actually very carefully crafted not to oppose all the vested interests which are still very strong in the country but if you go into the language actually, you’ll see indications pointing at the need to reform state owned enterprises while the private sector has to be supported, sustained. So these are to me close indication that reforms will happen. If the changes do take place, do you think will we see an increase in the growth rate of the Chinese economy? Well, I don’t think so. I mean, the growth rate is still quite high. I mean, this year we expect 7,5%. In a way because of the size of Chinese economy overall I don’t think there is a time when we have to expect 10 %-12% growth rate per year as a decade ago or some years ago. But 7,5%, 7%, 8% is still a very sizable growth rate. The one-child policy in China has been contributing to the shrinkage of the country's workforce. Do you think the government might adopt changes to the policy in order to boost economic growth? There has been adaptation to the policy, I mean the past few years. And what we have seen is losing up of general policy. First of all first child now can have two children and restrictions in the countryside are much looser. And we are expecting in the next few years maybe not an overall abolition of the one-child policy, but certainly less restrictions. What do you think will happen to state-owned enterprises in China if they will be privatized? I don’t think that state-owned enterprises will be privatized or will be totally privatized. But I think the State may retain a golden share so to speak in some of those companies but their control will be diluted, private money will be welcomed into state-owned companies. And this also will help private companies. And especially what will be important is that state-owned enterprises will somehow lose their preferential policies with the state. Source: Article

Read More........ → November 16, 2013

China: First display of 'Flying Shark' Jet Fighter, Shenyang J-15-555 aircraft

China's first carrier-borne J15 fighter jets were displayed for public to see Wednesday in Xi'an of northwest China's Shaanxi Province. The jets exhibited for the public to see are originated from its prototype jet number "555". As of October, the J15 fighter has carried out thousands of tests and accumulated data of thousands of flying hours. "[J15 fighter] is mainly designed to meet the demands of take-off and landing on aircraft carriers while it is also a fighter in a war. According to the current result  of development and tests,its take-off and landing performances, mobility and maintainability all meet requirements," said Wang Yongqing, chief designer of the J15 fighter jet. It is said that J15 fighter is currently preparing the next flying test on the "Liaoning" aircraft carrier and will undertake tests of comprehensive capabilities and cooperation with the aircraft carrier. In the near future, the jet will be tested at night and complex weather conditions. Image: Screen Shot On Video

Read More........ → November 11, 2013

Japan's largest warship sparks concern

Japan Tuesday unveiled the biggest warship since World War II, sparking grave concerns about the country's military buildup as observers said the vessel is actually an aircraft carrier. Japan Maritime Self-Defense Force's helicopter destroyer DDH183 Izumo, the largest surface combatants of the Japanese navy, is seen during its launching ceremony in Yokohama, south of Tokyo August 6, 2013. [Photo/CFP]

The Japanese military held a ceremony in the port city of Yokohama to show off its new helicopter carrier 22DDH, which is expected to be a centerpiece of its naval power under the Self-Defense Forces, which are banned from aggressive action. The warship is 248 meters in length and 38 meters in width, and is expected to deploy the military ship in March 2015 for the Maritime Self-Defense Forces (MSDF). Tokyo's move coincided with Manila's latest efforts to upgrade its military, as the Philippine navy received a second former US coast guard ship. Manila received the first ship in 2011. Analysts believed that the upgraded warships in Japan and the Philippines are efforts to gain an upper hand in maritime disputes with China, as well as a catalyst igniting an arms race that would escalate regional tensions. China's Ministry of National Defense expressed concern on Tuesday about Japan's "continuous military buildup" and urged it to adhere to peaceful self-defense. "Japan should reflect on its history, adhere to self-defense and the promise of following the path of peaceful development," the ministry's bureau for media affairs told China Daily. The ministry also called for Japan's neighbors and the international community to be "highly alert". The Japanese-built carrier has a displacement of around 20,000 tons. It can accommodate 14 helicopters and will play a major role in disaster and rescue missions, as well as defend sea passages and Japanese territory, according to Japan's defense ministry. But it is much larger than many countries' aircraft carriers in terms of displacement and deck length, and it can be easily and swiftly refitted to support F35-B fighters, which have strong combat capabilities, said Zhang Junshe, a senior researcher at the People's Liberation Army Naval Military Studies Research Institute. "It is an aircraft carrier, and Japan just called it 'a helicopter destroyer' to downplay its aggressive nature," Zhang said. Japan, defeated in World War II, is creating regional tensions by breaking the postwar order, he added. The vessel was named Izumo, the same name as the flagship of the Japanese fleet that invaded China in the 1930s. Although the vessel is not 100 percent an aircraft carrier at the moment, it can be a platform for Japanese forces to train under circumstances similar to that of an aircraft carrier, said Jin Canrong, an international affairs professor at Renmin University of China. Besides, Tokyo likely intentionally chose the date of the vessel's debut — the 68th anniversary of the US dropping an atomic bomb on Hiroshima — to woo public support for the government's military ambitions by taking advantage of sentiments about the attack, Jin said. Japanese Prime Minister Shinzo Abe has been considering developing a regular army, which would require changing the Constitution imposed on Japan by the United States and its allies after World War II. But a possible overhaul of the Constitution has stirred strong reactions among Japan's neighbors, which have long maintained that Tokyo has never come to terms with its militaristic past. "Washington, which currently is facing defense budget cuts, needs Tokyo's assistance to guarantee the US focus on Asia. ... This also encourages Abe to beef up Japan's military," Jin added. China has always maintained that cooperation among countries should be conducive to regional peace and stability, according to the Ministry of National Defense's response to US-Philippine military cooperation. Manila said last week that Washington had stepped up its military assistance package in the next fiscal year to about $50 million from $30 million, the highest level since US troops returned to the Philippines in 2000. MILITARY SPENDING: Japan 2012 Japanese Cabinet meeting passed a $200 million budget for Japan Coast Guard, which is expected to buy 4,000-ton-class patrol boats, three 30-meter patrol boats and three helicopters. June 29 Japanese defense ministry declared a $128 million contract with the US, purchasing four F-35 joint strike fighters. Japan plans to buy a total of 42 such fighters. 2013 Japanese Cabinet passed the fiscal year 2013 budget. The national defense budget increased by $406.4 million compared with last year, which is also the first growth in 11 years. Japan built a 5000 ton destroyer, DD115 19DD Akizuki, at the cost of $720 million. Philippines May 2011 The Philippines navy bought its first Hamilton-class cutter from the United States in May and renamed it as BRP Gregorio del Pilar May 2012 The Philippines’ defense minister announced military modernization with 138 projects and a $1.67 billion defense budget. Jan 30, 2013 The Philippines announced a purchase of 12 FA-50 fighters from the Republic of Korea. July The Philippines announced a $1.8 billion budget for military equipment procurement. July 31 The Philippines said the US had increased its annual military aid from $30 million to $50 million. August 3 The Philippines said it would buy the 26-year-old La Tapageuse from French Navy. The vessel is to be handed over to Philippines in 2015. Source: China.org.cn

Read More........ → August 14, 2013

BRICS summit delivers tangible results, Singh meets Putin & Invites the Chinese Premiere

Chinese President Xi Jinping (2nd L) poses for a group photo with Indian Prime Minister Manmohan Singh (1st L), South African President Jacob Zuma (C), Brazilian President Dilma Rousseff (2nd R) and Russian President Vladimir Putin (1st R) during the 5th BRICS Summit in Durban, South Africa, March 27, 2013. [Photo: Xinhua]

The leaders of five major emerging economies on Wednesday wrapped up their latest round of summit in the South African city of Durban to promote their partnership for development, integration and industrialization. It is the first time for the BRICS nations, namely Brazil, Russia, India, China and South Africa, to hold their leaders' meeting on the continent of Africa. China Pledges to Enhance BRICS Cooperation While addressing the summit in his keynote speech, Chinese President Xi Jinping called on all BRICS members to work hand in hand for common development. He pledged that China would strengthen cooperation with other members to make economic growth of BRICS countries more robust and their cooperation better-structured and more productive. BRICS cooperation not only brings benefits to the peoples of the five countries, but also contributes to promoting democracy in international relations, Xi said. He said all members should manage their own affairs well by growing the economy and improving people's lives, strengthen coordination of macroeconomic policies, reform the international monetary and financial systems, and promote trade and investment liberalization and facilitation. They should jointly participate in the setting of international development agenda and make global development more balanced, he said. BRICS countries should work hard to boost cooperation in economy and trade, finance, infrastructure, movement of people and other fields, Xi said. He also called for improving global economic governance and increasing the say and representation of BRICS countries, and urged the BRICS nations to move toward the goal of integrated market, multi-tiered financial network, connectivity by land, air and sea, and greater cultural exchanges. Tangible Results: At the summit, the five BRICS members have achieved a number of tangible results, and agreed to expand their future cooperation to more sectors, according to a statement issued after the meeting. The most tangible outcomes, among others, is that the leaders have agreed to establish a development bank for mobilizing resources for infrastructure and sustainable development projects in the BRICS, as well as other emerging and the developing nations. The BRICS leaders believed that the bank serves as a supplement to the existing efforts of multilateral and regional financial institutions for global growth and development, adding that the initial contribution to the bank should be sustainable and sufficient. Meanwhile, the members also agreed to explore the construction of a financial safety net through the creation of a Contingent Reserve Arrangement (CRA). The leaders said the idea would help BRICS countries forestall short-term liquidity pressures, provide mutual support and further strengthen financial stability.  In the statement, the countries also expressed their common aspiration to
improve global economic governing make them more representative and to reflect the "growing weight" of the BRICS and other developing nations, adding that the leadership selection of international financial institutions should be open, transparent and merit-based. Additionally, the BRICS nations would explore the possibility of strengthening their cooperation between their state-owned firms, and promote the dialogues among the small and medium-sized companies. They would also consider to expand their cooperation to more sectors including public diplomacy, anti-corruption, drug control, youth exchanges, tourism, energy and sports. Also in the statement, the leaders of the BRICS countries voiced their opinions on a series of international hotspots including peace in the Middle East, Iranian nuclear issue, and the situation in Syria, Mali, Central African Republic, the Democratic Republic of Congo and Afghanistan. Cooperative Partnership between BRICS & Africa: Also on Wednesday, the leaders of the BRICS members and some African countries, after the summit, discussed their cooperation at the first BRICS Leaders-Africa Dialogue Forum, which is under the theme "Unlocking Africa's potential: BRICS and Africa cooperation on infrastructure." While addressing the forum, Chinese President Xi Jinping said the dialogue between leaders of BRICS and African countries reflected the political will of both sides to realize equality and inclusiveness and seek common development. Xi said the Chinese government is willing to form a cooperative partnership for transnational and trans-regional infrastructure, and help the African nations with the consultation, planning, feasibility research and project design of promoting interconnections and resource censor. He also promised to help Africa to train 300 managing and technical personnel specialized in the field of infrastructure, and encourage Chinese enterprises and financial institutions to participate in the building and operating the infrastructure. The Chinese leader also reaffirmed China's promise to give zero-tariff treatment to 97 percent of the tariff items of exports to China from the least developed nations having diplomatic ties with China. Other leaders of the BRICS nations said the BRICS countries would like to forge a cooperative partnership with Africa, and help Africa in constructing its infrastructure. The African leaders said Africa needs to strengthen its infrastructure, promote integration and industrialization, and lift over-all competitiveness and the capacity for sustainable development. The African nations are willing to set up with the BRICS members a cooperative partnership that highlights mutual support, mutual benefit and win-win results, said the leaders. Source: China.org.cn, Putin meets with Indian Prime Minister Singh "on the

On Tuesday, Russia’s President Vladimir Putin met with India’s Prime Minister Manmohan Singh "on the sidelines" of a summit of BRICS countries, the Voice of Russia correspondent Polina Chernitsa repots.

sidelines" of BRICS summit: BRICS is an alliance for economic cooperation between Brazil, Russia, India, China and South Africa – hence the abbreviation. At the meeting, Mr. Putin suggested to Mr. Singh to exchange opinions on acute issues of relations between the two counties and of the world’s political life. “High-ranking Russian and Indian officials meet very often,” Mr. Putin said. “This gives us an opportunity to maintain friendly relations and to control the situation in every sphere of these relations.” The Indian Prime Minister thanked the Russian President for his personal contribution in partnership between the two countries. “When you came to India in December,” Mr. Singh said, “we had a good opportunity to discuss many aspects of relations between our two countries. I am very satisfied with the results of those talks.” “At present, India and Russia are actively cooperating in the sphere of security, in atomic energy and in many other spheres,” Manmohan Singh continued. “The mechanism of annual summits allows to have very detail discussions of all aspects of cooperation between our two countries and global political problems.” Finance ministers of the BRICS countries unable to reach agreement on development bank - Russia’s Finance Ministry Head: Finance  ministers of the BRICS countries  yet unable to reach agreement on key

Anton Siluanov, Photo: RIA Novosti

questions concerning creation of the BRICS development bank – Head of Russia’s Finance Ministry Anton Siluanov said at a press conference in South African Durban. The parties also failed to reach an agreement on whether the BRICS members' involvement in the bank's management will be proportionate to the size of their contributions or whether they will manage it on a parity basis regardless of their contributions, he said. "We considered this issue today. A list of questions has been compiled to be answered, that is, the capital and the management mechanism, and also whether those who contribute more will have preferences or whether decisions will be made through a consensus. We agreed on the whole that we will continue working on establishing a BRICS bank after the unsettled issues are answered," Siluanov told journalists on the sidelines of a BRICS summit on Tuesday. The parties agreed to continue addressing these issues at the next meetings of the BRICS finance ministers, Siluanov said. It was agreed preliminarily that the establishment of a new bank would require each country's contribution of $2 billion, he said. "This is not a small amount of money. It will be not easy for us to discuss this at the parliament, and not only for us but also for the other countries. Therefore, this was discussed as an idea, and there are positive reviews on it, and we will continue working on a mechanism of its implementation," he said. BRICS agree on establishing

BRICS countries have agreed on establishing their Bank of Development (single financial institution for Brazil, Russia, India, China and South Africa), South Africa’s Finance Minister Pravin Gordhan said in Durban Tuesday.

Bank of Development: The initial capital of the BRICS bank of development is expected to amount not less than $50 billion. It is not clear how the stakes will be distributed between the states. Durban is to host the BRICS summit on Wednesday. Besides the economic issues the leaders of BRICS are to discuss urgent international issues such as the Syrian crisis. Russia’s President Vladimir Putin has already arrived to Durban for talks. BRICS countries have agreed on establishing their Bank of Development (single financial institution for Brazil, Russia, India, China and South Africa), South Africa’s Finance Minister Pravin Gordhan said in Durban Tuesday. The initial capital of the BRICS bank of development is expected to amount not less than $50 billion. It is not clear how the stakes will be distributed between the states. Durban is to host the BRICS summit on Wednesday. Besides the economic issues the leaders of BRICS are to discuss urgent international issues such as the Syrian crisis. Russia’s President Vladimir Putin has already arrived to Durban for talks. Source: Voice of Russia, Singh meets Chinese President Xi Jinping :Durban: Prime Minister Manmohan Singh on Wednesday met Chinese President Xi Jinping during the summit of the BRICS nations - Brazil, Russia, India, China and South Africa - in Durban, South Africa. This was the first structured high-level contact between the two countries since the change of leadership in China. The meeting lasted for 45 minutes. Speaking to reporters after the meeting, Dr Singh said India values its ties with China. "The bilateral relationship with China is of great importance. As Prime Minister of India, it has been my great privilege to interact regularly with the Chinese relationship over the last decade. I hope to intensify such dialogue and communications with you and the new leadership of China to put our relations on an even higher growth trajectory," Dr Singh said. The two leaders discussed all contentious issues, including the boundary and Chinese dams along the Brahmaputra River. Chinese President was all praise

for Dr Singh for his statesmanship and was hopeful that he would continue to improve ties between both the countries. Mr Jinping said relationship with India is important to China. "The Chinese President, in fact, himself told Dr Singh that he knew about the good bonding our prime minister shared with his predecessors," an Indian official said. Mr Jinping invited Dr Singh to China and the Prime Minister too invited the Chinese Premiere to New Delhi. Both the leaders have accepted each other's invitations; the dates are yet to be worked out. Mr Jinping had last week propounded five proposals for improving bilateral ties with India. These included keeping aside differences on various issues while improving mutual ties and accommodation of each other's concerns while dealing with "core interests". He had also suggested that peace and tranquility should be maintained on the boundary pending settlement of the issue. Fifth BRICS

BRICS is an international political organisation of leading emerging economies, arising out of the inclusion of South Africa into the BRIC: Image Link Wikimedia

Summit Declaration and action plan: Leaders of the BRICS nations, namely Brazil, Russia, India, China and South Africa wrapped up their latest round of summit Wednesday in South African city of Durban. The following is the full text of the declaration and action plan of the summit: Fifth BRICS Summit, Durban: 27 March 2013: BRICS and Africa: Partnership for Development, Integration and Industrialisation: eThekwini Declaration: 1. We, the leaders of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China and the Republic of South Africa, met in Durban, South Africa, on 27 March 2013 at the Fifth BRICS Summit. Our discussions took place under the overarching theme, "BRICS and Africa: Partnership for Development, Integration and Industrialization." The Fifth BRICS Summit concluded the first cycle of BRICS Summits and we reaffirmed our commitment to the promotion of international law, multilateralism and the central role of the United Nations (UN). Our discussions reflected our growing intra-BRICS solidarity as well as our shared goal to contribute positively to global peace, stability, development and cooperation. We also considered our role in the international system as based on an inclusive approach of shared solidarity and cooperation towards all nations and peoples. 2. We met at a time which requires that we consider issues of mutual interest and systemic importance in order to share concerns and to develop lasting solutions. We aim at progressively developing BRICS into a full-fledged mechanism of current and long-term coordination on a wide range of key issues of the world economy and politics. The prevailing global governance architecture is regulated by institutions which were conceived in circumstances when the international landscape in all its aspects was characterized by very different challenges and opportunities. As the global economy is being reshaped, we are committed to exploring new models and approaches towards more equitable development and inclusive global growth by emphasizing complementarities and building on our respective economic strengths. 3. We are open to increasing our engagement and cooperation with non-BRICS countries, in particular Emerging Market and Developing Countries (EMDCs), and relevant international and regional organizations, as envisioned in the Sanya Declaration. We will hold a Retreat together with African leaders after this Summit, under the theme, "Unlocking Africa's potential: BRICS and Africa Cooperation on Infrastructure." The Retreat is an opportunity for BRICS and African leaders to discuss how to strengthen cooperation between the BRICS countries and the African Continent. 4. Recognizing the importance of regional integration for Africa's sustainable growth, development and poverty eradication, we reaffirm our support for the Continent' s integration processes. 5. Within the framework of the New Partnership for Africa's Development (NEPAD), we support African countries in their industrialization process through stimulating foreign direct investment, knowledge exchange, capacity-building and diversification of imports from Africa. We acknowledge that infrastructure development in Africa is important and recognize the strides made by the African Union to identify and address the continent's infrastructure challenges through the development of the Program for Infrastructure Development in Africa (PIDA), the AU NEPAD Africa Action Plan (2010-2015), the NEPAD Presidential Infrastructure Championing Initiative (PICI), as well as the Regional Infrastructure Development Master Plans that have identified priority infrastructure development projects that are critical to promoting regional integration and industrialization. We will seek to stimulate infrastructure investment on the basis of mutual benefit to support industrial development, job-creation, skills development, food and nutrition security and poverty eradication and sustainable development in Africa. We therefore, reaffirm our support for sustainable infrastructure development in Africa. 6. We note policy actions in Europe, the United States and Japan aimed at reducing tail-risks in the world economy. Some of these actions produce negative spillover effects on other economies of the world. Significant risks remain and the performance of the global economy still falls behind our expectations. As a result, uncertainty about strength and durability of the recovery and the direction of policy in some major economies remains high. In some key countries unemployment stays unusually elevated, while high levels of private and public indebtedness inhibit growth. In such circumstances, we reaffirm our strong commitment to support growth and foster financial stability. We also underscore the need for appropriate action to be taken by advanced economies in order to rebuild confidence, foster growth and secure a strong recovery. 7. Central Banks in advanced economies have responded with unconventional monetary policy actions which have increased global liquidity. While this may be consistent with domestic monetary policy mandates, major Central Banks should avoid the unintended consequences of these actions in the form of increased volatility of capital flows, currencies and commodity prices, which may have negative growth effects on other economies, in particular developing countries. 8. We welcome the core objectives of the Russian Presidency in the G20 in 2013, in particular the efforts to increased financing for investment and ensure public debt sustainability aimed at ensuring strong, sustainable, inclusive and balanced growth and job creation around the world. We will also continue to prioritize the G20 development agenda as a vital element of global economic stability and long-term sustainable growth and job creation. 9. Developing countries face challenges of infrastructure development due to insufficient long-term financing and foreign direct investment, especially investment in capital stock. This constrains global aggregate demand. BRICS cooperation towards more productive use of global financial resources can make a positive contribution to addressing this problem. In March 2012 we directed our Finance Ministers to examine the feasibility and viability of setting up a New Development Bank for mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, to supplement the existing efforts of multilateral and regional financial institutions for global growth and development. Following the report from our Finance Ministers, we are satisfied that the establishment of a New Development Bank is feasible and viable. We have agreed to establish the New Development Bank. The initial contribution to the Bank should be substantial and sufficient for the Bank to be effective in financing infrastructure. 10. In June 2012, in our meeting in Los Cabos, we tasked our Finance Ministers and Central Bank Governors to explore the construction of a financial safety net through the creation of a Contingent Reserve Arrangement (CRA) amongst BRICS countries. They have concluded that the establishment of a self-managed contingent reserve arrangement would have a positive precautionary effect, help BRICS countries forestall short-term liquidity pressures, provide mutual support and further strengthen financial stability. It would also contribute to strengthening the global financial safety net and complement existing international arrangements as an additional line of defence. We are of the view that the establishment of the CRA with an initial size of 100 billion U.S. dollars is feasible and desirable subject to internal legal frameworks and appropriate safeguards. We direct our Finance Ministers and Central Bank Governors to continue working towards its establishment. 11. We are grateful to our Finance Ministers and Central Bank Governors for the work undertaken on the New Development Bank and the Contingent Reserve Arrangement and direct them to negotiate and conclude the agreements which will establish them. We will review progress made in these two initiatives at our next meeting in September 2013. 12. We welcome the conclusion between our Export-Import Banks (EXIM) and Development Banks, of both the "Multilateral Agreement on Cooperation and Co-financing for Sustainable Development" and, given the steep growth trajectory of the African continent and the significant infrastructure funding requirements directly emanating from this growth path, the "Multilateral Agreement on Infrastructure Co-Financing for Africa." 13. We call for the reform of International Financial Institutions to make them more representative and to reflect the growing weight of BRICS and other developing countries. We remain concerned with the slow pace of the reform of the IMF. We see an urgent need to implement, as agreed, the 2010 International Monetary Fund (IMF) Governance and Quota Reform. We urge all members to take all necessary steps to achieve an agreement on the quota formula and complete the next general quota review by January 2014. The reform of the IMF should strengthen the voice and representation of the poorest members of the IMF, including Sub-Saharan Africa. All options should be explored, with an open mind, to achieve this. We support the reform and improvement of the international monetary system, with a broad-based international reserve currency system providing stability and certainty. We welcome the discussion about the role of the SDR in the existing international monetary system including the composition of SDR's basket of currencies. We support the IMF to make its surveillance framework more integrated and even-handed. The leadership selection of IFIs should be through an open, transparent and merit-based process and truly open to candidates from the emerging market economies and developing countries. 14. We emphasize the importance of ensuring steady, adequate and predictable access to long term finance for developing countries from a variety of sources. We would like to see concerted global effort towards infrastructure financing and investment through the instrumentality of adequately resourced Multilateral Development Banks (MDBs) and Regional Development Banks (RDBs). We urge all parties to work towards an ambitious International Development Association(IDA)17 replenishment. 15. We reaffirm our support for an open, transparent and rules-based multilateral trading system. We will continue in our efforts for the successful conclusion of the Doha Round, based on the progress made and in keeping with its mandate, while upholding the principles of transparency, inclusiveness and multilateralism. We are committed to ensure that new proposals and approaches to the Doha Round negotiations will reinforce the core principles and the developmental mandate of the Doha Round. We look forward to significant and meaningful deliverables that are balanced and address key development concerns of the poorest and most vulnerable WTO members, at the ninth Ministerial Conference of the WTO in Bali. 16. We note that the process is underway for the selection of a new WTO Director-General in 2013. We concur that the WTO requires a new leader who demonstrates a commitment to multilateralism and to enhancing the effectiveness of the WTO including through a commitment to support efforts that will lead to an expeditious conclusion of the DDA. We consider that the next Director-General of the WTO should be a representative of a developing country. 17. We reaffirm the United Nations Conference on Trade and Development' s (UNCTAD) mandate as the focal point in the UN system dedicated to consider the interrelated issues of trade, investment, finance and technology from a development perspective. UNCTAD's mandate and work are unique and necessary to deal with the challenges of development and growth in the increasingly interdependent global economy. We also reaffirm the importance of strengthening UNCTAD's capacity to deliver on its programs of consensus building, policy dialogue, research, technical cooperation and capacity building, so that it is better equipped to deliver on its development mandate. 18. We acknowledge the important role that State Owned Companies (SOCs) play in the economy and encourage our SOCs to explore ways of cooperation, exchange of information and best practices. 19. We recognize the fundamental role played by Small and Medium-Sized Enterprises (SMEs) in the economies of our countries. SMEs are major creators of jobs and wealth. In this regard, we will explore opportunities for cooperating in the field of SMEs and recognize the need for promoting dialogue among the respective Ministries and Agencies in charge of the theme, particularly with a view to promoting their international exchange and cooperation and fostering innovation, research and development. 20. We reiterate our strong commitment to the United Nations (UN) as the foremost multilateral forum entrusted with bringing about hope, peace, order and sustainable development to the world. The UN enjoys universal membership and is at the center of global governance and multilateralism. In this regard, we reaffirm the need for a comprehensive reform of the UN, including its Security Council, with a view to making it more representative, effective and efficient, so that it can be more responsive to global challenges. In this regard, China and Russia reiterate the importance they attach to the status of Brazil, India and South Africa in international affairs and support their aspiration to play a greater role in the UN. 21. We underscore our commitment to work together in the UN to continue our cooperation and strengthen multilateral approaches in international relations based on the rule of law and anchored in the Charter of the United Nations. 22. We are committed to building a harmonious world of lasting peace and common prosperity and reaffirm that the 21st century should be marked by peace, security, development, and cooperation. It is the overarching objective and strong shared desire for peace, security, development and cooperation that brought together BRICS countries. 23. We welcome the twentieth Anniversary of the World Conference on Human Rights and of the Vienna Declaration and Program of Action and agree to explore cooperation in the field of human rights. 24. We commend the efforts of the international community and acknowledge the central role of the African Union (AU) and its Peace and Security Council in conflict resolution in Africa. We call upon the UNSC to enhance cooperation with the African Union, and its Peace and Security Council, pursuant to UNSC resolutions in this regard. We express our deep concern with instability stretching from North Africa, in particular the Sahel, and the Gulf of Guinea. We also remain concerned about reports of deterioration in humanitarian conditions in some countries. 25. We welcome the appointment of the new Chairperson of the AU Commission as an affirmation of the leadership of women. (more) 26. We express our deep concern with the deterioration of the security and humanitarian situation in Syria and condemn the increasing violations of human rights and of international humanitarian law as a result of continued violence. We believe that the Joint Communique of the Geneva Action Group provides a basis for resolution of the Syrian crisis and reaffirm our opposition to any further militarization of the conflict. A Syrian-led political process leading to a transition can be achieved only through broad national dialogue that meets the legitimate aspirations of all sections of Syrian society and respect for Syrian independence, territorial integrity and sovereignty as expressed by the Geneva Joint Communique and appropriate UNSC resolutions. We support the efforts of the UN-League of Arab States Joint Special Representative. In view of the deterioration of the humanitarian situation in Syria, we call upon all parties to allow and facilitate immediate, safe, full and unimpeded access to humanitarian organizations to all in need of assistance. We urge all parties to ensure the safety of humanitarian workers. 27. We welcome the admission of Palestine as an Observer State to the United Nations. We are concerned at the lack of progress in the Middle East Peace Process and call on the international community to assist both Israel and Palestine to work towards a two-state solution with a contiguous and economically viable Palestinian state, existing side by side in peace with Israel, within internationally recognized borders, based on those existing on 4 June 1967, with East Jerusalem as its capital. We are deeply concerned about the construction of Israeli settlements in the Occupied Palestinian Territories, which is a violation of international law and harmful to the peace process. In recalling the primary responsibility of the UNSC in maintaining international peace and security, we note the importance that the Quartet reports regularly to the Council about its efforts, which should contribute to concrete progress. 28. We believe there is no alternative to a negotiated solution to the Iranian nuclear issue. We recognize Iran's right to peaceful uses of nuclear energy consistent with its international obligations, and support resolution of the issues involved through political and diplomatic means and dialogue, including between the International Atomic Energy Agency (IAEA) and Iran and in accordance with the provisions of the relevant UN Security Council Resolutions and consistent with Iran's obligations under the Treaty on the Non-Proliferation of Nuclear Weapons(NPT). We are concerned about threats of military action as well as unilateral sanctions. We note the recent talks held in Almaty and hope that all outstanding issues relating to Iran' s nuclear program will be resolved through discussions and diplomatic means. 29. Afghanistan needs time, development assistance and cooperation, preferential access to world markets, foreign investment and a clear end-state strategy to attain lasting peace and stability. We support the global community's commitment to Afghanistan, enunciated at the Bonn International Conference in December 2011, to remain engaged over the transformation decade from 2015-2024. We affirm our commitment to support Afghanistan' s emergence as a peaceful, stable and democratic state, free of terrorism and extremism, and underscore the need for more effective regional and international cooperation for the stabilization of Afghanistan, including by combating terrorism. We extend support to the efforts aimed at combating illicit traffic in opiates originating in Afghanistan within the framework of the Paris Pact. 30. We commend the efforts of the AU, the Economic Community of West African States (ECOWAS) and Mali aimed at restoring sovereignty and territorial integrity of Mali. We support the civilian efforts of the Malian Government and its international community partners in realizing the transitional program leading up to the presidential and legislative elections. We emphasize the importance of political inclusiveness and economic and social development in order for Mali to achieve sustainable peace and stability. We express concern about the reports of the deterioration in humanitarian conditions in Mali and call upon the international community to continue to cooperate with Mali and its neighboring countries in order to ensure humanitarian assistance to civilian population affected by the armed conflict. 31. We are gravely concerned with the deterioration in the current situation in the Central African Republic (CAR) and deplore the loss of life. We strongly condemn the abuses and acts of violence against the civilian population and urge all parties to the conflict to immediately cease hostilities and return to negotiations. We call upon all parties to allow safe and unhindered humanitarian access. We are ready to work with the international community to assist in this endeavor and facilitate progress to a peaceful resolution of the conflict. Brazil, Russia and China express their sympathy to the South African and Indian governments for the casualties that their citizens suffered in the CAR. 32. We are gravely concerned by the ongoing instability in the Democratic Republic of the Congo (DRC). We welcome the signing in Addis Ababa on 24 February 2013 of the Peace, Security and Cooperation Framework for the Democratic Republic of the Congo and the Region. We support its independence, territorial integrity and sovereignty. We support the efforts of the UN, AU and sub-regional organizations to bring about peace, security and stability in the country. 33. We reiterate our strong condemnation of terrorism in all its forms and manifestations and stress that there can be no justification, whatsoever, for any acts of terrorism. We believe that the UN has a central role in coordinating international action against terrorism within the framework of the UN Charter and in accordance with principles and norms of international law. In this context, we support the implementation of the UN General Assembly Global Counter-Terrorism Strategy and are determined to strengthen cooperation in countering this global threat. We also reiterate our call for concluding negotiations as soon as possible in the UN General Assembly on the Comprehensive Convention on International Terrorism and its adoption by all Member States and agreed to work together towards this objective. 34. We recognize the critical positive role the Internet plays globally in promoting economic, social and cultural development. We believe it's important to contribute to and participate in a peaceful, secure, and open cyberspace and we emphasize that security in the use of Information and Communication Technologies (ICTs) through universally accepted norms, standards and practices is of paramount importance. 35. We congratulate Brazil on hosting the UN Conference on Sustainable Development (Rio+20) in June 2012 and welcome the outcome as reflected in "The Future we Want," in particular, the reaffirmation of the Rio Principles and political commitment made towards sustainable development and poverty eradication while creating opportunities for BRICS partners to engage and cooperate in the development of the future Sustainable Development Goals. 36. We congratulate India on the outcome of the 11th Conference of the Parties to the United Nations Conference on Biological Diversity (CBD COP11) and the sixth meeting of the Conference of the Parties serving as the Meeting of the Parties to the Cartagena Protocol on Biosafety. 37. While acknowledging that climate change is one of the greatest challenges and threats towards achieving sustainable development, we call on all parties to build on the decisions adopted in COP18/CMP8 in Doha, with a view to reaching a successful conclusion by 2015, of negotiations on the development of a protocol, another legal instrument or an agreed outcome with legal force under the Convention applicable to all Parties, guided by its principles and provisions. 38. We believe that the internationally agreed development goals including the Millennium Development Goals (MDGs) address the needs of developing countries, many of which continue to face developmental challenges, including widespread poverty and inequality. Low Income Countries (LICs) continue to face challenges that threaten the impressive growth performance of recent years. Volatility in food and other commodity prices have made food security an issue as well as constraining their sources of revenue. Progress in rebuilding macro-economic buffers has been relatively slow, partly due to measures adopted to mitigate the social impact of exogenous shocks. Many LICs are currently in a weaker position to deal with exogenous shocks given the more limited fiscal buffers and the constrained aid envelopes, which will affect their ability to sustain progress towards achieving the MDGs. We reiterate that individual countries, especially in Africa and other developing countries of the South, cannot achieve the MDGs on their own and therefore the centrality of Goal 8 on Global Partnerships for Development to achieve the MDGs should remain at the core of the global development discourse for the UN System. Furthermore, this requires the honoring of all commitments made in the outcome documents of previous major international conferences. 39. We reiterate our commitment to work together for accelerated progress in attaining the Millennium Development Goals (MDGs) by the target date of 2015, and we call upon other members of the international community to work towards the same objective. In this regard, we stress that the development agenda beyond 2015 should build on the MDG framework, keeping the focus on poverty eradication and human development, while addressing emerging challenges of development taking into consideration individual national circumstances of developing countries. In this regard the critical issue of the mobilization of means of implementation in assisting developing countries needs to be an overarching goal. It is important to ensure that any discussion on the UN development agenda, including the "Post 2015 Development Agenda" is an inclusive and transparent inter-Governmental process under a UN-wide process which is universal and broad based. 40. We welcome the establishment of the Open Working Group on the Sustainable Development Goals (SDGs), in line with the Rio+20 Outcome Document which reaffirmed the Rio Principles of Sustainable Development as the basis for addressing new and emerging challenges. We are fully committed to a coordinated inter-governmental process for the elaboration of the UN development agenda. 41. We note the following meetings held in the implementation of the Delhi Action Plan: . Meeting of Ministers of Foreign Affairs on the margins of UNGA. . Meeting of National Security Advisors in New Delhi. . Meetings of Finance Ministers, and Central Bank Governors in Washington DC and Tokyo.. Meeting of Trade Ministers in Puerto Vallarta. . Meetings of Health Ministers in New Delhi and Geneva. 42. We welcome the establishment of the BRICS Think Tanks Council and the BRICS Business Council and take note of the following meetings which were held in preparation for this Summit: . Fifth Academic Forum . Fourth Business Forumx. Third Financial Forum 43. We welcome the outcomes of the meeting of the BRICS Finance Ministers and Central Bank Governors and endorse the Joint Communique of the Third Meeting of the BRICS Trade Ministers held in preparation for the Summit. 44. We are committed to forging a stronger partnership for common development. To this end, we adopt the eThekwini Action Plan. 45. We agree that the next summit cycles will, in principle, follow the sequence of Brazil, Russia, India, China and South Africa. 46. Brazil, Russia, India and China extend their warm appreciation to the Government and people of South Africa for hosting the Fifth BRICS Summit in Durban. 47. Russia, India, China and South Africa convey their appreciation to Brazil for its offer to host the first Summit of the second cycle of BRICS Summits, i.e. the Sixth BRICS Summit in 2014 and convey their full support thereto. eThekwini Action Plan: 1. Meeting of BRICS Ministers of Foreign Affairs on the margins of UNGA. 2. Meeting of BRICS National Security Advisors. 3. Mid-term meeting of Sherpas and Sous-Sherpas. 4. Meetings of Finance Ministers and Central Bank Governors in the margins of G20 meetings, WB/IMF meetings, as well as stand-alone meetings, as required. 5. Meetings of BRICS Trade Ministers on the margins of multilateral events, or stand-alone meetings, as required. 6. Meeting of BRICS Ministers of Agriculture and Agrarian Development, preceded by a preparatory meeting of experts on agro-products and food security issues and the Meeting of Agriculture Expert Working Group. 7. Meeting of BRICS Health Ministers and preparatory meetings. 8. Meeting of BRICS Officials responsible for population on the margins of relevant multilateral events. 9. Meeting of BRICS Ministers of Science and Technology and meeting of BRICS Senior Officials on Science and Technology. 10. Meeting of BRICS Cooperatives. 11. Meetings of financial and fiscal authorities in the margins of WB/IMF meetings as well as stand-alone meetings, as required. 12. Meetings of the BRICS Contact Group on Economic and Trade Issues (CGETI). 13. Meeting of the BRICS Friendship Cities and Local Governments Cooperation Forum. 14. Meeting of the BRICS Urbanization Forum. 15. Meeting of BRICS Competition Authorities in 2013 in New Delhi. 16. 5th Meeting of BRICS Heads of National Statistical Institutions. 17. Consultations amongst BRICS Permanent Missions and/or Embassies, as appropriate, in New York, Vienna, Rome, Paris, Washington, Nairobi and Geneva, where appropriate. 18. Consultative meeting of BRICS Senior Officials in the margins of relevant sustainable development, environment and climate related international fora, where appropriate. New areas of cooperation to be explored, - BRICS Public Diplomacy Forum. - BRICS Anti-Corruption Cooperation. - BRICS State Owned Companies/State Owned Enterprises. - National Agencies Responsible for Drug Control. - BRICS virtual secretariat. - BRICS Youth Policy Dialogue. - Tourism.- Energy.- Sports and Mega Sporting Events.  Source: China.org.cn

Read More........ → March 28, 2013

China picks Li Keqiang as new premier

China's legislature elected Li Keqiang as premier on Friday, installing an English-speaking bureaucrat as the man in charge of the economy, the world's second-largest, and its aim of reviving growth through consumer-led expansion.

The largely rubber-stamp National People's Congress, as expected, chose Li, 57, to replace Wen Jiabao. Nearly 3,000 delegates gathered in Beijing's Great Hall of the People to vote on Li's appointment, putting the final stamp of approval on a generational transition of power. Li drew only three no votes and six abstentions from the carefully selected parliament. Li rose and shook hands with Xi Jinping, who was elected president by the legislature on Thursday, as legislators applauded. A beaming Wen walked over to Li, shook his hand and exchanged words. While Xi is the country's top leader, Li heads China's State Council, or cabinet, and is charged with executing government policy and overseeing the economy. As premier, Li is faced with one of the world's widest gaps between rich and poor, an economy over-reliant on investment spending and a

The newly-elected Chinese President Xi Jinping (L) talks to Premier Li Keqiang. 

persistently frothy housing market that has stoked resentment among the middle class. More than any other Chinese party leader until now, Li was immersed in the intellectual and political ferment of the decade of reform under Deng Xiaoping, which ended in the 1989 Tiananmen Square protests that were crushed by troops. As a student at Peking University, Li befriended ardent pro-democracy advocates, some of whom later became outright challengers to party control. His friends included activists who went into exile after the June 1989 crackdown. Li, who has a degree in law and a doctorate in economics, will take the reins of an economy whose growth slowed in 2012 to a 13-year low, albeit at a 7.8 percent rate that is the envy of other major economies. Analysts have described the Wen years as a lost decade during which economic reforms slowed and state-backed industries tightened their grip on the economy. Both Xi and Li will need to deliver a blueprint to stabilise the real estate market. They need to do this quickly to calm a market in which real estate prices have soared 10-fold in major cities during the last decade. Across China, people are resentful of the widening income inequality gap. China has 2.7 million U.S. dollar millionaires and 251 billionaires, according to the Hurun Report, but 13 percent of its people live on less than $1.25 per day, according to United Nations data. The average annual urban disposable income is just 21,810 yuan ($3,500). Xi Jinping named president of China Artyom Kobzev: Xi

Jinping has been named president of China at  the session of the Chinese Assembly of People’s Representatives in Beijing. This is one of 3 top-level posts in China. Xi Jinping became the General Secretary of the Communist Party of China and the Supreme Commander-in-Chief last November. In other words, all power is now concentrated in him. After Xi Jinping was elected president of China at the 12th session of the Chinese Assembly of People’s Representatives the process of the transfer of power to the 5th generation of the Chinese leaders was completed. Xi Jinping took the helm of the Communist Party of China in November of last year, and his election was no surprise at all. The political system of China is such that the names of the future leaders became known long before they are officially named. By the well-established tradition, the sessions of the Chinese Assembly bring no surprises either, Head of the Centre for the Russian-Chinese Studies at the Lomonosov Moscow State University Yevgeny Zaitsev says. "It is very unlikely that someone - a kind of Chinese Boris Yeltsyn will appear on the rostrum to say that China will soon undergo radical changes. Such events are always carefully planned and prepared, and if there are surprises, they are sanctioned by the leadership of the Communist Party of China." Another political tradition in China is the continuity of the course pursued by the Chinese leaders. They say that a new leader needs approximately 5 years to formulate his policy. However, Xi Jinping has proved to be an exception to the rule. His political style became evident as soon as he was elected the General Secretary of the Communist Party of China, Deputy Editor-in-Chief of the “Power” magazine Alexander Gabuyev says. "He delivered a short program speech during a ceremony to present the new Standing Committee of the Political Bureau of the Communist Party of China. He mentioned neither Marxism nor socialism or any other terms the people of China were so tired of. Instead, he spoke about the unemployment, about slowed economic growth, about the lack of a clear pension system in China, about corruption, and about many other things the people in China are concerned about. He promised that in the coming 10 years his government would tackle all these issues." It would be good to mention here that as distinct from Hu Jintao, Xi Jinping has concentrated the party, political and military power in his hands. Last November he became the chairman of the Central Military Commission. Just to compare: the former Chinese leader Jiang Zimin handed over his control of China’s military sector to Hu Jintao only 2 years after he became president of China. China's Xi Jinping formally elected as president by parliament China's parliament formally elected

heir-in-waiting Xi Jinping as the country's new president on Thursday, succeeding Hu Jintao, putting the final seal of approval on a generational transition of power. The largely rubber stamp National People's Congress chose Xi in a tightly scripted ceremony at the Great Hall of the People in Beijing. Xi was appointed party and military chief - where real power lies - in November. Voice of Russia, Reuters, TASS, Source: Voice of Russia

Read More........ → March 17, 2013

2nd child possible for more couples

Rural couples in Shanghai, Tianjin and five provinces have been entitled to have a second child if either of them is the only child of their families, the country's deputy population planning chief and a lawmaker confirmed on Tuesday. "As per changes in demographic, economic and social landscapes, we have improved our policies regarding child bearing in recent years," Wang Pei'an, vice-minister of the National Population and Family Planning Commission, said on the sidelines of the ongoing session of the National People's Congress, which opened on Tuesday in Beijing. In his Government Work Report at the opening of the legislature's annual meeting on Tuesday morning, Premier Wen Jiabao vowed to "progressively improve the government population policy" and "adhere to the basic State policy on family planning". The State policy, instigated three decades ago, is not tantamount to a "one-child" policy, said Wang Xu, a national legislator. Already, rural families can have a second child if the firstborn is a girl, and both rural and urban couples can have a second child if they are both the only child of their families. Rural couples in Liaoning, Jilin, Jiangsu, Anhui and Fujian provinces then joined their rural cousins in Shanghai and Tianjin municipalities by being allowed to give birth to a second child if a husband or wife is an only child, they said. The arrangement, not widely reported, took effect at least one year ago, according to Wang Xu, also director of the commission's Science and Technology Institute. "It indicates the government has been fine-tuning the State policy on family planning," he told China Daily. The legislator said it is the right time to further optimize the policy. The number of people aged between 19 and 59 declined by 3.45 million year-on-year in 2012 on the Chinese mainland, making a significant dent in China's labor force. The number of people aged 60 and older is estimated to top 200 million in 2013, according to a report on the aging population released by the Chinese Academy of Social Sciences on Feb 26. There are changes in the size, structure and geographical distribution of the country's population, so the policy should improve to match the changes, the lawmaker said. Had the country's family planning policy not been in place, China's population would be at least 400 million larger, he said. Given the sheer size of the current population, China should continue to stick to the basic family planning policy and stabilize the low birthrate, he added. "We may consider extending the second-child policy now in place in the rural parts of seven regions including Shanghai and Tianjin to urban regions as well," he suggested. Liu Dajun, a political adviser, agreed with Wang. The member of the National Committee of the Chinese People's Political Consultative Conference said China's population will start to decline in 2030 under the current policy. "We have missed the best time to roll out the policy of allowing one couple to have two children. For the future of our country, we call for immediate action in adjusting the family planning policy," Liu said in a proposal submitted to the national committee. Source: China.org.cn

Read More........ → March 07, 2013

The world’s longest bus seats 256 people

World's longest bus: Debuted in Germany, the megabus AutoTram Extra Grand is nearly 101ft long and can carry 256 passengers.

There are buses and then there is the AutoTram Extra Grand which debuted in Germany this week as the longest of its breed in the world. Developed by the boffins of the Fraunhofer Institute for Traffic and Infrastructure Systems, the bus is nearly 101 feet long, has four steering axles and can carry 256 passengers. The big bendy bus premiered in the eastern city of Dresden this week where it will soon roll into service with the local transportation authority on trial runs as Beijing and Shanghai placed their orders for the vehicle which costs about $10million (almost £6.3million) per bus.

Unsafe and unreliable: Bendy buses on several routes in London were banned in 2009 amid claims they were unsafe, unreliable and encourage fare-dodgers.

The good news for environmentalists is that it can run for long stretches on electric power. Matthias Klingner, the institute's director said: 'There is a lot of know-how invested in it. It's computer is highly efficient. 'The innovation of the AutoTram lies not only in its length, but most of all in its ability to be manoeuvred like a conventional 12 metre (39ft) city bus. 'There's no problem with the manoeuvrability and stability, but we have to see how such a long bus affects normal city traffic.' 

Already orders: Made in Germany, the new bendy bus has already been ordered by Chinese cities Shanghai and Beijing.

German trial: This week the vehicle debuted in Dresden and will be part of the local transport on a trial basis. It combines the passenger capacity of a small train with the manouverability of a bus and runs on a hybrid engine that kicks in when the electric batteries run down, charging them as it propels the vehicle. Bus drivers will not require a special licence to drive the long, bendy bus thanks to a unique computer steering system which keeps the length of the bus precisely in line with the front carriage. The system is less expensive to run and cheaper to put into operation than a rail commuter system, prompting other cities to inquire about the super-sized buses. Dr Klinger said: 'The AutoTram has a considerable advantage compared to light rail systems.' While it is the longest bus in the world, the bus with the largest capacity is China's New Liner Series which has 300 seats on a 82ft bus.

Combines transport: The bus combines the passenger capacity of a small train and the maneouverability of a bus.  Bendy buses in London were banned on several routes in 2009 after they were found to be responsible for many accidents. London's mayor Boris Johnson struggled to sell the 31 vehicles amid claims they were unsafe, unreliable and encourage fare-dodgers. They were taken out of service temporarily in 2005 after three caught on fire. Many were eventually sold to Malta in 2011. According to The Guardian Mr Johnson said at the time: 'These bulky and ungainly monstrosities were always more suitable for the wide open vistas of a Scandinavian airport than for London.  'I am glad to see the back of them.' Source: The Way I See It

Read More........ → September 07, 2012

Asian tigers move away from dollar

China, Japan and South Korea are taking further steps to replace the dollar in trade between them as the countries start negotiations on a free trade agreement, Vladimir Rozhankovsky, Head of Research at Nord Capital told RT. The deal would be signed by the end of the year, Chinese Premier Wen Jiabao with Japan's Prime Minister Yoshihiko Noda and South Korean President Lee Myung-bak announced during their Fifth Trilateral Summit in Beijing on May 13. The countries have been mulling the idea of the union for several years. “China started negotiations on using national currencies in the region’s trade as early as in 2008, during the crisis as the country wanted to secure itself from probable default of the US dollar,” Rozhankovsky told RT. In 2010 China and Japan agreed on trading some commodities in the yen and the yuan. “It took about two years to trial the idea of trade in the local currencies and now it’s time to follow up a success,” Rozhankovsky said. Source: The Coming Crisis

Read More........ → June 13, 2012