Living the Chinese Dream

reedak · Jun 8, 2013

In his speech to close the National People's Congress in May 2013, Xi Jinping pledged that his government would "strive to achieve the Chinese dream of great rejuvenation of the Chinese nation".

A large majority of the Chinese would like to see a corruption-free China in their "Chinese Dream".

There is no way to eradicate corruption, however. This was pointed out by the 11th Prime Minister of India, HD Deve Gowda (1996-1997) when he referred to the high level of corruption in India: Corruption was like diabetes. It can be controlled but cannot be eradicated. The Chinese, therefore, could only dream of reducing the level of corruption in their country.

Netizens, especially the Chinese, are welcome to share their views on the "Chinese Dream".

Chinese Dream
http://en.wikipedia.org/wiki/Chinese_Dream

Xi Jinping and the Chinese dream
http://www.economist.com/news/leade...e-his-people-not-nationalist-state-xi-jinping

Xi Jinpings vision
Chasing the Chinese dream
http://www.economist.com/news/brief...nsolidate-his-power-what-does-he-now-want-his

Xi Jinpings Chinese Dream: Dangers in Opacity
http://chinadigitaltimes.net/2013/05/chinese-dream-dangers-in-opacity/

Xi Jinping: China's new boss a man with a dream
http://edition.cnn.com/2013/03/16/world/asia/china-xi-presidency

The Chinese Dream
http://latitude.blogs.nytimes.com/2013/05/03/whats-xi-jinpings-chinese-dream/

Xi Jinpings Chinese Dream
http://thediplomat.com/china-power/xi-jinpings-chinese-dream/

Is corruption in our DNA?
http://zeenews.india.com/news/archives/is-corruption-in-our-dna_725837.html

Albert Di Salvo · Jun 9, 2013

I have observed the birth and growth of the concept of the Chinese Dream among the Chinese people. I find it quite amazing that hope for the Chinese Dream is rising as the American Dream has died. Americans no longer talk about the American Dream any more. The American Dream died with Old America. New Amerika has no dreams.

reedak · Jun 9, 2013

Albert Di Salvo said: ↑

I have observed the birth and growth of the concept of the Chinese Dream among the Chinese people. I find it quite amazing that hope for the Chinese Dream is rising as the American Dream has died. Americans no longer talk about the American Dream any more. The American Dream died with Old America. New Amerika has no dreams.
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Like Rip Van Winkle awakening to find that the surroundings and "the very character of the people seemed changed", you find that you are no longer living in Old America ruled by familiar faces but in New Amerika ruled by Hak Kwai.

Perhaps you should wander off with your dog into the Catskill mountains to find the lost American Dream.

Rip Van Winkle, a Posthumous Writing of Diedrich Knickerbocker
http://www.timetravelreviews.com/shorts/rip_van_winkle.html

American Dream
http://en.wikipedia.org/wiki/American_Dream

Albert Di Salvo · Jun 9, 2013

reedak said: ↑

Like Rip Van Winkle awakening to find that the surroundings and "the very character of the people seemed changed", you find that you are no longer living in Old America ruled by familiar faces but in New Amerika ruled by Hak Kwai.

Perhaps you should wander off with your dog into the Catskill mountains to find the lost American Dream.

Rip Van Winkle, a Posthumous Writing of Diedrich Knickerbocker
http://www.timetravelreviews.com/shorts/rip_van_winkle.html

American Dream
http://en.wikipedia.org/wiki/American_Dream
Click to expand...

The birth of the Chinese Dream gives a window into the character of a fundamentally optimistic and confident people.

The American Dream has a very long history dating back to the original settlers of the Massachusetts Bay Colony and the rest of New England. It was the dream of not being beholden to any other person, but to be independent and autonomous.

The notion spread West. It became the dream of owning one's own little farm or homestead, and to unbeholden to people who thought they were the betters of the free soil homesteader.

It was the Free Soilers who killed the Confederacy and made America possible.

As America urbanized and industrialized the American Dream again morphed into the idea of having a middle class life, owning one's own home, and raising sons and daughters who would live better lives than their parents.

Now most of the children will face lives inferior to those of their parents. There are many reasons why this is so. But that doesn't change the fact that most young Americans will never know the American Dream. To be frank with you dear Uncle, very few Americans talk about the American Dream any more. If they did it would break their hearts.

waltky · Apr 14, 2016

Heads gonna roll in China...

China largest market for Panama Papers law firm, ICIJ says
Fri, Apr 08, 2016 - Nearly one-third of the business of the law firm at the center of the “Panama Papers” scandal came from its offices in Hong Kong and China, reports said yesterday, with the Asian giant assailed by corruption and capital flight.

More than 16,300 of Panamanian law firm Mossack Fonseca’s active shell companies were incorporated through its Hong Kong and China offices, 29 percent of the worldwide total, according to the International Consortium of Investigative Journalists (ICIJ), which coordinated a year-long investigation into a trove of 11.5 million documents. The investigation found that relatives of at least eight current or former members of the Central Politburo of the Chinese Communist Party (CCP), the party’s most powerful body, have been implicated in the use of offshore companies.

Such vehicles are not illegal in themselves and can be used for legitimate business needs. However, they commonly feature in corruption cases, when they can be used to secretly move ill-gotten gains abroad. Graft is rife in China, which Transparency International rates in 83rd place out of 168 in its most recent Corruption Perceptions Index. At the same time, growth in the world’s second-largest economy is slowing, and its wealthy have increasingly sought to move funds abroad, but have to contend with Beijing’s strict exchange-control regime.

Under Chinese President Xi Jinping, Beijing has launched a much-publicized anti-graft drive, but has not instituted systemic reforms, such as public declarations of assets. Xi’s brother-in-law and family members of two current members of the Central Politburo Standing Committee (CPSC) of the CCP, Zhang Gaoli and Liu Yunshan, have offshore holdings, the ICIJ reported. Deng Jiagui, Xi’s brother-in-law, was previously a shareholder in three companies: Supreme Victory Enterprises, Wealth Ming International and Best Effect Enterprises, reports said. The companies were closed before Xi took power in 2012.

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See also:

Young Chinese in Vancouver flaunt family wealth
Thu, Apr 14, 2016 - Andy Guo, an 18-year-old Chinese immigrant, loves driving his red Lamborghini Huracan. He does not love having to share the car with his twin brother, Anky.

“There’s a lot of conflict,” Andy Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, “CTGRY 5,” short for the most catastrophic type of hurricane. The C$360,000 (US$281,600) car was a gift last year from their father, who travels back and forth between Vancouver and China’s Shanxi Province and made his fortune in coal, said Andy Guo, an economics major at the University of British Columbia.

China’s rapid economic rise has turned peasants into billionaires. Many wealthy Chinese are increasingly eager to stow their families — and their riches — in the West, where rule of law, clean air and good schools offer peace of mind, especially for those looking to escape scrutiny from the Chinese Communist Party and an anticorruption campaign that has sent hundreds of rich and powerful people to jail. With its relatively weak currency and welcoming immigration policies, Canada has become a top destination for China’s “1 percenters.” According to Canadian government figures, from 2005 to 2012, at least 37,000 Chinese millionaires took advantage of a now-defunct immigrant investor program to become permanent residents of British Columbia, the province that includes Vancouver.

The metropolitan area of 2.3 million is home to increasing numbers of ethnic-Chinese residents, who made up more than 18 percent of the population in 2011, up from less than 7 percent in 1981, according to government figures. To the newcomers for whom money seems to be no object, the next purchase after a house is usually a car, and then a few more. A large number of luxury car dealerships there employ Chinese staff, a testament to the spending power of the city’s newest residents. Last year, there were 2,500 cars worth more than US$150,000 registered in metropolitan Vancouver, up from 1,300 in 2009, according to the Insurance Corp of British Columbia.

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waltky · May 10, 2016

A ***** in the Chinese economy...

China’s debt at crisis levels: ‘People’s Daily’
Tue, May 10, 2016 - ’ZOMBIE’ SURFEIT: A tree cannot grow in the air,’ an unnamed source said, adding that a ‘system financial crisis’ would cause ‘even household savings to evaporate’

China must turn off the taps of credit-driven growth to avoid a financial system crisis in the face of rising bad loans and other risks, the Chinese Communist Party’s official mouthpiece newspaper said yesterday, citing an unnamed “authoritative” source. The prominent article, in question-and-answer format, started on the front of the broadsheet paper and took up the entirety of page two. The Chinese government is trying to retool the economy away from the investment and export-led growth of the past to one more led by consumer demand, and reform lumbering, loss-making state-owned enterprises to make the sector more efficient. However, the transition is proving bumpy, raising fears of a hard landing, and global markets have been alarmed by slowing expansion in the world’s second-largest economy.

Attempts to address the slowdown in the first quarter of this year — when growth slid to 6.7 percent — were largely driven by investment, the People’s Daily quoted the source as saying, putting more financial pressure on some local governments. Analysts said the comments could be a signal that Beijing is to rein in monetary stimulus efforts. “A tree cannot grow in the air,” the source said, arguing against raising debt further. “Further leverage must not be added to push up growth, nor does it need to be,” the interviewee added, warning of a possible crisis as high debts “will definitely bring about high risks.” “A system financial crisis could be triggered if no good controls are implemented, leading the economy to contract and even household savings to evaporate,” the source said.

It is the third time in less than a year that the People’s Daily has cited “an authoritative person” to discuss top-level economic policies. China’s news portal Sina has previously said that such an “authoritative source” in similar People’s Daily articles could be a high-ranking government official, such as the head of China’s top economic planning agency the National Development and Reform Commission, or a respected scholar who participated in major economic policymaking. “While the anonymity has been protected, the views expressed in these articles did have a large impact in China,” Nomura economists said in a note.

The report implied that future monetary easing “may be more cautious and that the government may try to hasten the pace of reforms,” they said, evidence that China’s “debt-fueled rebound in investment growth will be short-lived.” China’s growth will continue to slow, the source said, as sluggish demand and overcapacity are “unlikely to turn around fundamentally in several years.” Boosts from credit expansions have declined and the government must “completely abandon the delusion” of trying to stimulate growth by loosening money supply, added the source. Instead authorities should accelerate reforms, stop lending to “zombie companies” to reduce overcapacity, allow migrant workers to settle in cities to expand demand and further cut taxes, the source said.

http://www.taipeitimes.com/News/world/archives/2016/05/10/2003645945
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xmzuo9284 · Jun 22, 2016

Please don't speak for the Chinese people.As a Chinese,I'm not interested with your demoncracy and fleedom and humiliation-rights.

waltky · Jan 20, 2017

Granny gettin' a good return on her rickshaw stock...

China's economy grows 6.7% in 2016
Fri, 20 Jan 2017 - The figure meets Beijing's forecasts, but some say growth is slower than the official data suggests.

China's economy grew by 6.7% in 2016, compared with 6.9% a year earlier, according to official data, marking its slowest growth since 1990. The figure is in line with Beijing's growth target of between 6.5% and 7%. But the data comes days after the leader of one Chinese province admitted GDP data was faked for several years. China is a key driver of the global economy and a growth slowdown is a major concern for investors around the world.

'Deception'

Some analysts have taken heart from data showing growth in the last three months of 2016 was at an annual rate of 6.8% - a slightly faster pace than the rest of the year. But many observers have been saying for years that the country's growth was actually much weaker than the official data suggests. And those beliefs gained more support this week, when the governor of Liaoning, Chen Qiufa, said his province had been "involved in a large-scale financial deception" between 2011 and 2014, and that economic data had been doctored. Addressing reporters' questions about the Liaoning admission, the director of the National Bureau of Statistics said on Friday that the national data was "truthful and reliable".

Ning Jizhe added that "statistics departments on various levels will also be strengthening the law enforcement, supervision, and checks on figures" and "resolutely guarding and preventing" the fabricating of data. China is the world's second-biggest importer of both goods and commercial services, meaning its economic performance has a big knock-on impact around the world. It plays an important role as a buyer of oil and other commodities, and its slowdown has been a factor in the decline in the prices of such goods. Beijing's aim to rebalance the economy towards domestic consumption has led to major challenges for large manufacturing sectors, and there have been layoffs - especially in heavily staffed state-run sectors such as the steel industry.

Can we trust the numbers? By Stephen McDonell, BBC Beijing Correspondent

Plenty of economists think that GDP is a massively flawed form of measuring the health of any economy but in this country it is even worse. There is a significant proportion of China watchers who don't believe the GDP figures are real at all. For example, in 2016, the country's (year on year) GDP was exactly 6.7% for three quarters in a row. While this seems numerically unlikely, I suppose it is possible that this could happen. Without solid, reliable figures this remains a debate with wide-ranging, conflicting views. Mind you, even if at worse China's real GDP is around 4% at present, there are plenty of national governments which wouldn't mind a taste of those numbers.

Trump effect?
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reedak · Feb 6, 2017

xmzuo9284 said: ↑

Please don't speak for the Chinese people.As a Chinese,I'm not interested with your demoncracy and fleedom and humiliation-rights.
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Well said. The demon goes crazy as he enjoys the humiliation of rights of refugees to flee from seven Muslim-majority countries to the US.

reedak · Feb 6, 2017

waltky said: ↑

Granny gettin' a good return on her rickshaw stock...

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Grandpa says, "Granny gives up her American dream for Chinese dream."

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