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External trade

International trade makes up a sizeable portion of China's overall economy.Sony VAIO VGN-AR74DB Battery

The course of China's foreign trade has experienced considerable transformations since the early 1950s. In 1950 more than 70 percent of the total trade was with non-Communist countries, but by 1954, a year after the end of the Korean War, the situation was completely reversed, and trade with Communist countries stood at about 75 percent.Sony VAIO VGN-AR75UDB Battery

During the next few years, trade with the Communist world lost some of its standing, but it was only after the Sino-Soviet split of 1960, which resulted in the cancellation of Soviet credits and the withdrawal of Soviet technicians, that the non-Communist world began to see a speedy recovery in its position. Sony VAIO VGN-AR790U/B Battery

In 1965 China's trade with other socialist countries made up only about a third of the total.

Being a Second World country at the time, a meaningful segment of China's trade with the Third World was financed through grants, credits, and other forms of assistance. Sony VAIO VGN-AR820E Battery

At first, from 1953 to 1955, aid went mainly to North Korea and North Vietnam and some other Communist states; but from the mid-1950s large amounts, mainly grants and long-term, interest-free loans, were promised to politically uncommitted developing countries. Sony VAIO VGN-AR830E Battery

The principal efforts were made in Asia, especially to Indonesia, Burma, Pakistan, and Ceylon, but large loans were also granted in Africa (Ghana, Algeria,Tanzania) and in the Middle East (Egypt). However, after Mao Zedong's death in 1976, these efforts were scaled back. Sony VAIO VGN-AR83S Battery

After which, trade with developing countries became negligible, though during that time, Hong Kong and Taiwan both began to emerge as major trading partners.

Since economic reforms began in the late 1970s, China sought to decentralize its foreign trade system to integrate itself into the international trading system. Sony VAIO VGN-AR83US Battery

On November 1991, China joined the Asia-Pacific Economic Cooperation (APEC) group, which promotes free trade and cooperation the in economic, trade, investment, and technology spheres. China served as APEC chair in 2001, and Shanghai hosted the annual APEC leaders meeting in October of that year.Sony VAIO VGN-AR84S Battery

China's global trade totaled $324 billion in 1997 and $151 billion in the first half of 1998; the trade surplus stood at $40.0 billion. China's primary trading partners were Japan, Taiwan, the U.S., South Korea, Hong Kong, Germany, Singapore, Russia, and the Netherlands.Sony VAIO VGN-AR84US Battery

China had a trade surplus with the U.S. of $49.7 billion in 1997 and $54.6 billion in 1998. Major imports were power generating equipment, aircraft and parts, computers and industrial machinery, raw materials, and chemical and agricultural products.Sony VAIO VGN-AR85S Battery

In 1998, China was in its 12th year of negotiations for accession to the World Trade Organization (WTO)—formerly the General Agreement on Tariffs and Trade (GATT), and had significantly reduced import tariffs. Previously in 1996, China had already introduced cuts to more than 4,000 tariff lines, reducing average tariffs from 35% to 23%; Sony VAIO VGN-AR85US Battery

further tariff cuts that took effect October 1, 1997, decreased average tariffs to 17%. To gain WTO entry, all prospective WTO members were required to comply with certain fundamental trading disciplines and offer substantially expanded market access to other members of the organization.Sony VAIO VGN-AR870EA Battery

Many major trading entities—among them the United States, the European Union, and Japan—shared concerns with respect to China's accession. These concerns included obtaining satisfactory market access offers for both goods and services, full trading rights for all potential Chinese consumers and end-users, Sony VAIO VGN-AR890U Battery

nondiscrimination between foreign and local commercial operations in China, the reduction of monopolistic state trading practices, and the elimination of arbitrary or non-scientific technical standards. China and other WTO members worked to achieve a commercially viable accession protocol.Sony VAIO VGN-AR93S Battery

In 1999, Premier Zhu Rongji signed a bilateral U.S.–China Agricultural Cooperation Agreement, which lifted longstanding Chinese prohibitions on imports of citrus, grain, beef, and poultry. In November 1999, the United States and China reached a historic bilateral market-access agreement to pave the way for China's accession to the WTO. Sony VAIO VGN-AR93US Battery

As part of the far-reaching trade liberalization agreement, China agreed to lower tariffs and abolish market impediments after it joins the world trading body. Chinese and foreign businessmen, for example, would gain the right to import and export on their own – and to sell their products without going through a government middleman.Sony VAIO VGN-AR94S Battery

After reaching a bilateral WTO agreement with the EU and other trading partners in summer 2000, China worked on a multilateral WTO accession package. China concluded multilateral negotiations on its accession to the WTO in September 2001. Sony VAIO VGN-AR94US Battery

The completion of its accession protocol and Working Party Report paved the way for its entry into the WTO on December 11, 2001, after 16 years of negotiations, the longest in the history of the General Agreement on Tariffs and Trade.

China's global trade exceeded $2.4 trillion at the end of 2008.Sony VAIO VGN-AR95S Battery

It first broke the $100 billion mark in 1988, $200 billion in 1994, $500 billion in 2001 and$1 trillion mark ($1.15 trillion) in 2004. The table below shows the average annual growth (in nominal US dollar terms) of China's foreign trade during the reform era.Sony VAIO VGN-AR95US Battery

The vast majority of China's imports consists of industrial supplies and capital goods, notably machinery and high-technology equipment, the majority of which comes from the developed countries, primarily Japan and the United States . Regionally, almost half of China's imports come from East and Southeast Asia, and about one-fourth of China's exports go to the same destinations .Sony VAIO VGN-AW110J/H Battery

About 80 percent of China's exports consist of manufactured goods, most of which are textiles and electronic equipment, with agricultural products and chemicals constituting the remainder. Out of the five busiest ports in the world, three are in China.Sony VAIO VGN-AW11M/H Battery

The U.S. is one of China's primary suppliers of semiconductors and electronic components, power-generating equipment, aircraft and parts, computers and industrial machinery, raw materials, waste and scrap, and chemical and agricultural products. However, Sony VAIO VGN-AW11S/B Battery

U.S. exporters continue to have concerns about fair market access due to China's restrictive trade policies and U.S. export restrictions . Intellectual property theft makes many foreign companies wary of doing business in mainland China. According to U.S. statistics, China had a trade surplus with the U.S. of $170 billion in 2004, more than doubling from 1999. Sony VAIO VGN-AW11XU/Q Battery

Wal-Mart, the United States' largest retailer, is China's 7th largest export partner, just ahead of the United Kingdom.

The U.S. trade deficit with China reached $232.5 billion in 2006, as imports grew 18%. China's share of total U.S. imports has grown from 7% to 15% since 1996.Sony VAIO VGN-AW11Z/B Battery

At the same time, the share of many other Asian countries' imports to the United States fell, from 39% in 1996 to 21.1% in 2005. The share of overall Asian imports (including China) to the United States actually declined from 38.8% in 1996 to 35.7% in 2005. The U.S. global trade deficit with the Asia–Pacific region as a whole also has fallen from 75% in 1995 to 49% in 2005.Sony VAIO VGN-AW120J/H Battery

Trade volume between China and Russia reached $29.1 billion in 2005, an increase of 37.1% compared with 2004. A spokesman for the Ministry of Commerce, Van Jingsun, said that the volume of trade between China and Russia could exceed 40 billion dollars in 2007.Sony VAIO VGN-AW150Y/H Battery

China's export of machinery and electronic goods to Russia grew 70%, which is 24% of China's total export to Russia in the first 11 months of 2005. During the same time, China's export of high-tech products to Russia increased by 58%, and that is 7% of China's total exports to Russia.Sony VAIO VGN-AW160J/Q Battery

Also in this time period border trade between the two countries reached $5.13 billion, growing 35% and accounting for nearly 20% of the total trade. Most of China's exports to Russia remain apparel and footwear. Russia is China's eighth largest trade partner and China is now Russia's fourth largest trade partner, and China now has over 750 investment projects in Russia, involving $1.05 billion.Sony VAIO VGN-AW170Y/Q Battery

China's contracted investment in Russia totaled $368 million during January–September 2005, twice that in 2004.

Chinese imports from Russia are mainly those of energy sources, such as crude oil, which is mostly transported by rail, and electricity exports from neighboring Siberian and Far Eastern regions.Sony VAIO VGN-AW180Y/Q Battery

In the near future, exports of both of these commodities are set to increase, as Russia is building the Eastern Siberia-Pacific Ocean oil pipeline with a branch to Chinese border, and Russian power grid monopoly UES is building some of its hydropower stations with a view of future exports to China.Sony VAIO VGN-AW190JAH Battery

Export growth has continued to be a major component supporting China's rapid economic growth. To increase exports, China pursued policies such as fostering the rapid development of foreign-invested factories, which assembled imported components into consumer goods for export and liberalizing trading rights. Sony VAIO VGN-AW190NAB Battery

In its 11th Five-Year Program, adopted in 2005, China placed greater emphasis on developing a consumer demand-driven economy to sustain economic growth and address imbalances.

The China Council for the Promotion of International Trade (CCPIT) promotes China's international economic and commercial interests. Sony VAIO VGN-AW190NBB Battery

This is accomplished by developing business cooperation and exchanges with foreign countries. It also produces economic data, creates diplomatic ties and is active with trade arbitration issues. Hong Kong remains prominent in domestic trade, notably in its reliance on the mainland for agricultural products.Sony VAIO VGN-AW190NCB Battery

Foreign investment

China's investment climate has changed dramatically with more than two decades of reform. In the early 1980s, China restricted foreign investments to export-oriented operations and required foreign investors to form joint-venture partnerships with Chinese firms. Sony VAIO VGN-AW190YAB Battery

The Encouraged Industry Catalogue sets out the degree of foreign involvement allowed in various industry sectors. From the beginning of the reforms legalizing foreign investment, capital inflows expanded every year until 1999. Foreign-invested enterprises account for 58–60% of China's imports and exports.Sony VAIO VGN-AW190YBB Battery

Since the early 1990s, the government has allowed foreign investors to manufacture and sell a wide range of goods on the domestic market, eliminated time restrictions on the establishment of joint ventures, provided some assurances against nationalization, allowed foreign partners to become chairs of joint venture boards, Sony VAIO VGN-AW190YCB Battery

and authorized the establishment of wholly foreign-owned enterprises, now the preferred form of FDI. In 1991, China granted more preferential tax treatment for Wholly Foreign Owned Enterprises and contractual ventures and for foreign companies, which invested in selected economic zones or in projects encouraged by the state, such as energy, communications and transportation.Sony VAIO VGN-AW190YDB Battery

China also authorized some foreign banks to open branches in Shanghai and allowed foreign investors to purchase special "B" shares of stock in selected companies listed on the Shanghai andShenzhen Securities Exchanges. These "B" shares sold to foreigners carried no ownership rights in a company. Sony VAIO VGN-AW220J/B Battery

In 1997, China approved 21,046 foreign investment projects and received over $45 billionin foreign direct investment. China revised significantly its laws on Wholly Foreign-Owned Enterprises and China Foreign Equity Joint Ventures in 2000 and 2001, easing export performance and domestic content requirements.Sony VAIO VGN-AW230J/H Battery

Foreign investment remains a strong element in China's rapid expansion in world trade and has been an important factor in the growth of urban jobs. In 1998, foreign-invested enterprises produced about 40% of China's exports, and foreign exchange reserves totalled about $145 billion.Sony VAIO VGN-AW235J/B Battery

Foreign-invested enterprises today produce about half of China's exports (the majority of China's foreign investment come from Hong Kong, Macau and Taiwan), and China continues to attract large investment inflows. However, the Chinese government's emphasis on guiding FDI into manufacturing has led to market saturation in some industries, Sony VAIO VGN-AW290JFQ Battery

while leaving China's services sectors underdeveloped. From 1993 to 2001, China was the world's second-largest recipient of foreign direct investment after the United States. China received $39 billion FDI in 1999 and $41 billion FDI in 2000. China is now one of the leading FDI recipients in the world, receiving almost $80 billion in 2005 according to World Bank statistics. Sony VAIO VGN-AW41JF Battery

In 2006, China received $69.47 billion in foreign direct investment. 

Foreign exchange reserves totaled $155 billion in 1999 and $165 billion in 2000. Foreign exchange reserves exceeded $800 billion in 2005, more than doubling from 2003. Sony VAIO VGN-AW41JF/H Battery

Foreign exchange reserves were $819 billion at the end of 2005, $1.066 trillion at the end of 2006, $1.9 trillion by June 2008. In addition, by the end of September 2008 China replaced Japan for the first time as the largest foreign holder of US treasury securities with a total of $585 billion, vs Japan $573 billion.Sony VAIO VGN-AW41MF Battery

China has now surpassed those of Japan, making China's foreign exchange reserves the largest in the world.

As part of its WTO accession, China undertook to eliminate certain trade-related investment measures and to open up specified sectors that had previously been closed to foreign investment. Sony VAIO VGN-AW41MF/H Battery

New laws, regulations, and administrative measures to implement these commitments are being issued. Major remaining barriers to foreign investment include opaque and inconsistently enforced laws and regulations and the lack of a rules-based legal infrastructure. Sony VAIO VGN-AW41XH Battery

Warner Bros., for instance, withdrew its cinema business in China as a result of a regulation that requires Chinese investors to own at least a 51 percent stake or play a leading role in a foreign joint venture.

Chinese investment abroad

Outward foreign direct investment is a new feature of Chinese globalization, where local Chinese firms seek to make investments in both developing and developed countries.Sony VAIO VGN-AW41XH/Q Battery

It was reported in 2011 that there was increasing investment by capital rich Chinese firms in promising firms in the United States. Such investments offer access to expertise in marketing and distribution potentially useful in exploiting the developing Chinese domestic market.Sony VAIO VGN-AW41ZF Battery

Demographics

Since the 1950s medical care, public hygiene and sanitation improved considerably, and epidemics were controlled. Consecutive generations continuously experienced better health. The population growth rate surged as the mortality rate dropped more rapidly than the birth rate.Sony VAIO VGN-AW41ZF/B Battery

China's massive population has always been a major difficulty for the government as it has struggled to provide for it. In the 1950s, food supply was inadequate and the standard of living was generally low. This spurred the authorities to initiate a major birth control program. Sony VAIO VGN-AW50DB/H Battery

The Great Leap Forward industrial plan in 1958–60 was partially responsible for a huge famine that caused the death rate to surpass the birth rate, and by 1960, the overall population was declining. A second population control drive began in 1962 with major efforts focused on promoting late marriages and the use of contraceptives.Sony VAIO VGN-AW51JGB Battery

By 1963 the country was in the beginning of recovery from the famine and the birth rate soared to its highest since 1949 with an annual population growth rate of 3%. In 1966, the Cultural Revolution suspended this second family planning program, but resumed four years later with the third attempt by making later marriage and family size limitation an obligation. Sony VAIO VGN-AW52JGB Battery

Since 1970, the efforts have been much more effective. The third family planning program continued until 1979 when the one child per family policy was implemented. By the early 1980s, China's population reached around 1 billion and by the early 2000s, surpassed 1.3 billion. Sony VAIO VGN-AW53FB Battery

In the 1980s, the average overall population growth was around 1.5%. In the 1990s, this fell to about 1%. Today it is about 0.6%.[139]China's population growth rate is now among the lowest for a developing country, although, due to its large population, annual net population growth is still considerable.Sony VAIO VGN-AW70B/Q Battery

One demographic consequence of the one-child policy is that China is now one of the most rapidly ageing countries in the world.

From 100 million to 150 million surplus rural workers are adrift between the villages and the cities, many subsisting through part-time, low-paying jobs.Sony VAIO VGN-AW71JB Battery

According to the latest Forbes China Rich List (2007), China had 66 billionaires, the second largest number after the United States, which had 415. In the 2006 Forbes Rich List it stated that there were 15 Chinese billionaires.[140] In the latest 2007 Hurun Report, it lists 106 billionaires in China.Sony VAIO VGN-AW72JB Battery

Transportation and Infrastructure

Development of the country's transportation infrastructure is given a high priority because it is so strategically tied to the national economy and national defense.Sony VAIO VGN-AW73FB Battery

Regardless, the transportation infrastructure is still not fully developed in many aspects and areas, and it constitutes a major hindrance on economic growth and the efficient logistical movement of goods and people. China's transportation policy, influenced by political, military, and economic concerns, have undergone major changes since 1949.Sony VAIO VGN-AW80NS Battery

Immediately after the People's Republic was founded, the primary goal was to repair existing transportation infrastructure in order to meet military transport and logistics needs as well as to strengthen territorial integrity. During most of the 1950s, new road and rail links were built, while at the same time old ones were improved. Sony VAIO VGN-AW80S Battery

During the 1960s much of the improvement of regional transportation became the responsibility of the local governments, and many small railways were constructed. Emphasis was also placed on developing transportation in remote rural, mountainous, and forested areas, in order to integrate poorer regions of the country and to help promote economies of scale in the agricultural sector.Sony VAIO VGN-AW80US Battery

Before the reform era began in the late 1970s, China's transportation links were mostly concentrated in the coastal areas and access to the inner regions was generally poor. This situation has been improved considerably since then, as railways and highways have been built in the remote and frontier regions of the northwest and southwest. Sony VAIO VGN-AW81DS Battery

At the same time, the development of international transportation was also pursued, and the scope of ocean shipping was broadened considerably.

Freight haulage is mainly provided by rail transport. The rail sector is monopolized by China Railways, which is controlled by the Ministry of Railways and there is wide variation in services provided.Sony VAIO VGN-AW81JS Battery

In late 2007 China became one of the few countries in the world to launch its own indigenously developed high-speed train. As rail capacity is struggling to meet demand for the transport of goods and raw materials such as coal, air routes, roads and waterways are rapidly being developed to provide an increasing proportion of China's overall transportation needs. Sony VAIO VGN-AW81YS Battery

Some economic experts have argued that the development gap between China and other emerging economies such as Brazil, Argentina and India can be attributed to a large extent to China's early focus on ambitious infrastructure projects:Sony VAIO VGN-AW82DS Battery

while China invested roughly 9% of its GDP on infrastructure in the 1990s and 2000s, most emerging economies invested only 2% to 5% of their GDP. This considerable spending gap allowed the Chinese economy to grow at near optimal conditions while many South American economies suffered from various development bottlenecks (poor transportation networks, aging power grids, mediocre schools…).Sony VAIO VGN-AW82JS Battery

Communications

China possesses a diversified communications system that links all parts of the country by Internet, telephone, telegraph, radio, and television.

China's number of Internet users or netizens topped 137 million by the end of 2006, an increase of 23.4% from a year before and 162 million by June 2007,Sony VAIO VGN-AW82YS Battery

making China the second largest Internet user after the United States, according to China's Ministry of Information Industry (MII). China's mobile phone penetration rate is 34% in 2007. In 2006, mobile phone users sent 429 billion text messages, or on average 967 text messages per user. For 2006, the number of fixed-lines grew by 79%, mainly in the rural areas.Sony VAIO VGN-AW83FS Battery

Science and technology

Science and technology have always preoccupied China's leaders and indeed, China's political leadership comes almost exclusively from technical backgrounds and has a high regard for science. Deng Xiaoping called it "the first productive force."Sony VAIO VGN-AW83GS Battery

In recent times, with Hu Jintao and Wen Jiabao and their predecessors Jiang Zemin and Zhu Rongji all being trained engineers, China's leaders have been described as technocrats.

Since the early 1980s scientific and technological modernization has been given an especially high priority. Sony VAIO VGN-AW83HS Battery

Plans were made to rebuild the educational structure, continue sending students abroad, negotiate technological purchases and transfer arrangements with the U.S. and others, and develop ways to disseminate scientific and technological information. Sony VAIO VGN-AW90NS Battery

Areas of most critical interest have included microelectronics, telecommunications, computers, automated manufacturing, and energy. China also has had a space program since the 1960s and, by the late 1990s, had successfully launched more than 25 satellites.Sony VAIO VGN-AW90S Battery

On the other hand, distortions in the economy and society created by party rule have severely hurt Chinese science, according to some Chinese science policy experts. The Chinese Academy of Sciences, modeled on the Soviet system, puts much of China's greatest scientific talent in a large,Sony VAIO VGN-AW90US Battery

under-funded apparatus that remains largely isolated from industry, although the reforms of the past decade have begun to address this problem.

Chinese science strategists have seen China's greatest opportunities in newly emerging fields such as biotechnology and computers where there is still a chance for China to become a significant player. Sony VAIO VGN-AW91CDS Battery

A majority of Chinese students who went abroad have not returned, but they have built a dense network of global contacts that have greatly facilitated international scientific cooperation.The United States is often held up as the standard of scientific modernity in China.Sony VAIO VGN-AW91CJS Battery

Indeed, photos of the Space Shuttle often appear in Chinese advertisements as a symbol of advanced technology. China's growing space program, which has put a man in space and successfully completed their second manned orbit in October 2005, is a focus of national pride.Sony VAIO VGN-AW91CYS Battery

At the end of 1996, China had 5,434 state-owned independent research and development institutions at and above the county level. There were another 3,400 research institutions affiliated with universities, 13,744 affiliated with medium and large industrial enterprises, and 726 affiliated with medium and large construction enterprises. Sony VAIO VGN-AW91DS Battery

A total of 2.8 million people were engaged in scientific and technological activities in these institutions.

The U.S.–China Science and Technology Agreement remains the framework for bilateral cooperation between the two countries in this field. It was originally signed in 1979. Sony VAIO VGN-AW91JS Battery

A five-year agreement to extend and amend the accord, including provisions for the protection of intellectual property rights, was signed in May 1991, and the Agreement was again extended for five years in April 1996. Five-year agreements to extend the accord were signed in April 2001 and April 2006. Sony VAIO VGN-AW91YS Battery

The Agreement is among the longest-standing U.S.–China accords, and includes over eleven U.S. Federal agencies and numerous branches that participate in cooperative exchanges under the S&T Agreement and its nearly 60 protocols, memoranda of understanding, agreements and annexes. Sony VAIO VGN-AW92CDS Battery

The Agreement covers cooperation in areas such as marine conservation, high-energy physics, renewable energy, and health. Biennial Joint Commission Meetings on Science and Technology bring together policymakers from both sides to coordinate joint science and technology cooperation. Sony VAIO VGN-AW92CJS Battery

Executive Secretaries meetings are held biennially to implement specific cooperation programs.

Japan and the European Union also have high profile science and technology cooperative relationships with China.Sony VAIO VGN-AW92CYS Battery

Noopolitik and the Knowledge Economy

Unlike South Korea the People's Republic does not have a full Ministry of Knowledge Economy as of 2011. Yet China has in ancient times maintained a premiership in world innovation, as evidenced by the manifold inventions it contributed throughout the world history. Sony VAIO VGN-AW92DS Battery

Notably taking note of the PRC's implementation of German Maglev train technology (transrapid) along with its clear interest inarcologies   and Solar powered planes while infrastructure, energy and transportation are known to have remained the PRC's main economic bottlenecks throughout the 2000s.Sony VAIO VGN-AW92JS Battery

China is rapidly implementing acquired technology for 600MW - 1000MW coal fired and 800MW - 1600MW nuclear fired power plant. Idriss Aberkane (2011) has argued "it may not be more than a decade before the Euro-Atlantic community manufactures and copies Chinese products, architecture, and systems". Sony VAIO VGN-AW92YS Battery

Until now, however, this postulate has to be seen as a very optimistic assumption as China is still more or less a "production site" for foreign enterprises and their technology (but also for illegal copies of those). Aberkane also underlined that while the PRC stood as the first nation in ability to provide popular material satisfaction,Sony VAIO VGN-AW93FS Battery

its doctrine of addressing all domestic issues through the lens of growth (which he calls a "growth panacea doctrine") was naturally continued by its interest in Noopolitik, a "knowledge panacea doctrine".

Furthermore, in an essay explicitly entitled "China's Innovation Wall"  Adam Segal reported that the PRC's policy had clearly moved from "Made in China" to "Innovated in China". Sony VAIO VGN-AW93GS Battery

Zbigniew Brzezinski had himself taken note of the PRC's emulating the original American "Revolution in Military Affairs" along which the term "Noopolitik" appeared in the essay of John Arquilla.

In 2004, Brzezinski   underlined that the success of the American Revolution in Military Affairs (...) “has spurred China to pursue its own “RMA with Chinese characteristics“ – described as “people’s war under high-tech conditions.”Sony VAIO VGN-AW93HS Battery

The notion of non linear R&D competition is made very clear in the title of a study by Kung Shuang-Yin “Achieving development by Leaps and Bounds in national Defense” [156] (translated). In January 2011 the Washington Post also quoted a “Chinese analyst” (sic): “instead of competing to build ships and tanks, (…) China will focus on the weapons that can cripple them.” Sony VAIO VGN-AW93ZFS Battery

The development of the People’s Liberation Army Air Force fifth generation stealth aircraft, Chengdu J-20, already considered superior to the USAF F-22 Raptor, and the implementation of the costly Shenzhou space programs testify to the PRC’s adoption of non-linear R&D. Sony VAIO VGN-AW93ZGS Battery

It is probably China’s wish to struggle for preeminence in the Pacific, and its investment in cheap air freight best demonstrates its interest in surpassing linear competition. -- Idriss J. Aberkane

Luxury goods

A factor that often goes overlooked is the extent of luxury spending the Chinese citizenry are undertaking. Sony VAIO VGN-AW93ZHS Battery

There is no greater indication of the newfound wealth of the Chinese than the amount of money now spent on goods and services that were once inaccessible. Foremost among these is the shift towards bottled water. The Chinese bottled water manufacturing industry is forecast to more than double in size in 2008, becoming a $10.5 (US dollars) billion industry in the process.Sony VAIO VGN-BZ11EN Battery

Meanwhile, as those who once had no recourse but poor-quality tap water take advantage of its availability in supermarkets, those who had little or no running water are now capitalising on its availability. The tap water production and supply industry is expected to grow by 29.3% in 2008, to $11.9 billion. Sony VAIO VGN-BZ11MN Battery

The country's motor vehicle production industry is expected to expand by 29.5% to nearly $200 billion, as many Chinese eschew traditional modes of transport, such as bicycles, for the comforts of modern cars. Also, consumption of chocolate and other confectionery is set to increase by 24.3%, Sony VAIO VGN-BZ11XN Battery

as the industry expands to $4.6 billion, in order to keep up with China's collective sweet tooth. Couple with this is 20.8% growth in China's fast food industry, as major players such as McDonald's enter the country with vigour. Also, the LVMH Group, who own major luxury brands including Louis Vuittonapparel,Sony VAIO VGN-BZ12VN Battery

Moët & Chandon wines and champagne and Hennessy cognacs, reported earnings growth of over 25% in 2007 in China, the region now accounting for around 16% of their global business.

Environment and public health

One of the serious negative consequences of China's rapid industrial development since the 1980s has been increased pollution and degradation of natural resources.Sony VAIO VGN-BZ12XN Battery

Problems such as soil erosion,desertification and the steady fall of the water table, especially in the north, have posed a threat to the sustainable development of the country. China is an active participant in climate change talks and other multilateral environmental negotiations in organization such as the UN Environment Program (UNEP).Sony VAIO VGN-BZ31VT Battery

Mergers and acquisitions

From 1993 to 2010, Chinese companies have been involved as either an acquiror or acquired company in 25,284 mergers and acquisitions with a total known value of US$969 billion. Sony VAIO VGN-BZ31XT Battery

The number and value of deals hit a new record in 2010. The number of deals that happened in 2010 has been 3,640 which is an increase of 17% compared to 2009. The value of deals in 2010 was US$196 billion which is an increase of 25% compared to the year before.Sony VAIO VGN-BZ560 Battery

The Center for China in the World Economy (CCWE) is an international political economic policy research center and think tank located in the School of Economics and Management (SEM) atTsinghua University, Beijing, China.Sony VAIO VGN-BZ560N24 Battery

The Center was founded in September 2004 and formally launched in October 2005 under the notion that "improving understanding of China's evolving prominence in the world will be of key importance both in China itself and abroad for many years to come". CCWE's founding partner is BP-China.Sony VAIO VGN-BZ560N30 Battery

The center serves in a unique capacity as a liaison between both West and East, private and public. More specifically, the center is able to interface with both China's burgeoning market economy and its public policy makers in order to disseminate strategic policy and accurately forecast the developing role and identity of the Chinese state in the global economy. Sony VAIO VG

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Moreover, its leadership is composed of academics with experience and expertise gained and formed in both the world's leading institutions. Operating in China's top university, the center hopes to increase its role as an elite source of information concerning China's development and growth in the 21st century.Sony VAIO VGN-BZ560P20 Battery

History

The seminal period for the center occurred from October 2003 to July 2004 when "over one hundred of the world's leading economic experts" were consulted regarding establishment. Following positive feedback, recruiting of research and administrative staff began.Sony VAIO VGN-BZ560P22 Battery

In September 2004, Tsinghua University formally approved the founding of the center. In February 2005, the center's executive committee was formed, holding its first meeting on 3 March of that year. In October 2005, the CCWE advisory board held its first meeting immediately preceding the first publication of the center's journal, China and World Affairs.Sony VAIO VGN-BZ560P28 Battery

In late October, the Center's new office location within the School of Economics and Management (SEM) became ready for use, and the formal launch of the center with its founding partner BP-China was held on October 31, 2005.

Activities

The CCWE is primarily focuses on in-depth research on China's economic development and reform. Sony VAIO VGN-BZ560P30 Battery

Research interests include comparative institutional, macroeconomic, and political economic strategy policy understandings, forecasts, and recommendations. Such research is promulgated via the Center's quarterly journal, working papers, and monthly bulletin publications.Sony VAIO VGN-BZ560P34 Battery

Further involvement in the international academic community include the hosting of the China in the World Economy Public Lecture Series, Policy Briefing Sessions (PBS), Roundtables, the China Policy Update, international conferences, and various workshops. CCWE has also participated in IMF and World Bank forums and conferences.Sony VAIO VGN-BZ561 Battery

Recent conferences hosted by the CCWE have centered on topics such as the Sichuan Earthquake and the Global Financial Crisis.

China and World Affairs

The main activity of the center concerns the quarterly publication of the academic journal, China and World Affairs, which was first published in October 2005.Sony VAIO VGN-BZ561N20 Battery

Edited and published within the CCWE by a team of professors, graduate students, editors, and staff; China and World Affairs is a policy journal primarily concerned with disseminating and proposing strategic policy as regards China's emergence onto the global stage since economic reform began in the late 1970s.Sony VAIO VGN-BZ561P20 Battery

The journal is composed of both Chinese and English articles. Hence, the center has both Chinese and English editing teams and submission procedures for both types of articles. Since its inception, the journal has expanded both the size of its publication as well as the amount of English articles included.Sony VAIO VGN-BZ562P Battery

Since the autumn of 2008, each journal edition focuses on approximately four key issues under which included articles are organized under. Articles are published by a host of academics mainly from within China and from universities including Tsinghua University,Sony VAIO VGN-BZ563P Battery

Peking University, Fudan University, University of Hong Kong, Nankai University, Renmin University, and many other key universities located in Beijing and elsewhere. Published articles also include those written by military personnel and government officials.Sony VAIO VGN-BZAAFS Battery

Structure

Professor David Daokui Li is currently a Mansfield Freeman Chair Professor Economic and the Director of the Center for China in the World Economy. He is also the directory of the Tsinghua SEM Finance department.

Professor Li holds a PhD in economics from Harvard University. Sony VAIO VGN-BZAAHS Battery

Prior to taking up post in his Alma mater, Dr. Li held positions at the University of Michigan at Ann Arbor, Stanford's Hoover Institution, and the Hong Kong University of Science and Technology. His research areas include economic development, the Chinese economy, applied economic theory, corporate finance, and international economics.Sony VAIO VGN-BZAANS Battery

His research on the Chinese economy covers China's state enterprise reform, property rights arrangements of non-state enterprises, reform of government agencies, and China's banking sector reform. Professor Li is also an honorary professor at both Sichuan and Nankai Universities.Sony VAIO VGN-BZAAPS Battery,Sony VAIO VGN-CR11H/B Battery,Sony VAIO VGN-CR11S/L Battery

 

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