The just concluded 18th National Congress of the Communist Party of China has given us a smooth transition from the "fourth-generation" leaders headed by Hu Jintao to "fifth-generation" ones led by Xi Jinping. Hu, in his keynote speech on Nov 8, outlined the overall approach to modernizing China further in five areas: the economy, politics, culture, society and ecology.
A clear indication of China's global importance is that media all over the world have extensively covered the 18th National Congress of the Communist Party of China. As the congress ended, all eyes were on the first public appearance of the members of the Politburo's new standing committee. These people will be at China's helm when it surpasses the United States to become the world's largest economy, based on purchasing power.
The 18th National Congress of the Communist Party of China that has just finished in Beijing will affect the country's social and economic development for at least the next 10 years. Many people will be interested in how the congress will affect China's green development.
The tenets of neo-liberal economics are right in preferring the market to the government in allocating resources. This principle also reminds us that an economy cannot expect fast and sustainable growth based on government control. This is borne out not only by what happened in the former Soviet Union, but in China as well until 36 years ago.
In the next 15 years one of the greatest turning points in world history can occur. In five to seven years China will become the world's largest economy. In about 15 years China will achieve the annual $12,000 GDP per capita qualifying it as a developed economy by World Bank criteria. China is so large that these events will change the world. For example, China's 1.3 billion population is larger than the combined 1.1 billion of all existing developed economies.
'In the long run we are all dead." There are varying interpretations of the famous words, written by the economist John Maynard Keynes in a tract written almost 90 years ago. Some interpret them as meaning we must seize opportunities while we can because time and tide wait for no one. But I do not think Keynes meant the long term is useless. Rather, he was pointing out its relationship with the short term.
The temptation of delaying economic reform for the sake of so-called stability needs to be resisted
Increasingly important Chinese investment in Europe needs to be fine-tuned
In February last year the Chinese telecommunications equipment maker Huawei wrote an open letter to the US government that complained of being unfairly excluded from the US market, and asked for a formal investigation into its business activities in the US. In response, in November the US government body responsible for overseeing national security and intelligence, the House Intelligence Committee, began investigating the suitability of Huawei and another big Chinese telecoms supplier, ZTE, as suppliers to national communications networks in the US. On Oct 8 the committee published a report on the US national security issues posed by Chinese telecommunication companies Huawei and ZTE.
That distinctive autumnal nip in the air and a sea of beautifully colored falling leaves signals the start of another academic year. Universities around the world will now be a hive of activity as they reach out to their local, national and international communities. But just how many universities, particularly Western ones, really reach out to the world of international business? How many universities venture inside specific companies to educate and train and contribute directly to increased company competitiveness?
European policymakers should end arms embargo and grant market economy status to China
Compass the EU uses as it looks for the right path in dealing with China is faulty.
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