What is the biggest problem facing China according to you people?

[Bussard Ramjet]

Answer: SWF's are not included in Forex Reserves, or vice versa, they are two different things.

Some countries (& economies) have higher SWF than Forex Reserves, check Norway, Kuwait, UAE, Singapore, China Hong Kong SAR.

P.S.: Many other reserves are not to be mixed with Forex Reserves, e.g. forest reserves, gold reserves not on central banks' balance sheet, petroleum reserves (e.g. SPR), etc.

Let me make a case:

Lets say I have a SWF that has a fund of 200 billion dollars, and 2 trillion renminbi. (So at current dollars they can be said to be a fund of around 500 billion dollars, but actually only 200 billion is in dollar fund. )

And the country has a forex of 1 trillion.

So does this mean that 200 billion is not included in the forex of 1 trillion?

 

[Shotgunner51]

Let me make a case:

Lets say I have a SWF that has a fund of 200 billion dollars, and 2 trillion renminbi. (So at current dollars they can be said to be a fund of around 500 billion dollars, but actually only 200 billion is in dollar fund. )

And the country has a forex of 1 trillion.

So does this mean that 200 billion is not included in the forex of 1 trillion?

Correct.

Let me make another real case for you. Say a country has a SWF of $538 billion, and Forex Reserves of $250 billion. Would you ask the silly question again, i.e. is that $538 included in the $250? That country is Singapore.

No more silly question please.

 

[Place Of Space]

Top ten problems --Chinese concern about in 2014:

from the left to right: Education issues 22.5 percent, 22.2 percent anti-corruption issues, 17.0% room Rate issues, environmental issues 16.5%, 16.1% of medical issues, ethnic issues 13.3%, 12.6% food security, income distribution issues 12.3%, 10.0%, pension issues, employment issues 8.0% , household issues 7.4 percent, 6.5 percent of religious issues

I will add the Administrative Omission, especially the county, city officials.

Even if they fire half of local officials, Chinese society can still runs smoothly.

 

[Bussard Ramjet]

Why didn't anyone mention the Rule of Law, and Judicial Independence?

 

[Shotgunner51]

Why didn't anyone mention the Rule of Law, and Judicial Independence?

Not on this thread or what? I believe I have mentioned this somewhere on PDF before, let me check again and come back to this thread. During the mean time, you may tag other members for their view.

 

[Azizam]

Isolationism. China is the second biggest economy in the world but they hesitate on projecting power or increasing their sphere of influence in terms of soft power through exporting culture. Whether Chinese people want it or not China ia going to be a major power in this century and they have to maintain their soft power parallel to economic and military strength. This is vital for any major civilization and Chinese influence is very postive for entire Asian region. Maybe China should follow Korean model?

 

[Beast]

Though chinese need to answer this thread.... But I think China lacks soft power projection and propaganda warfare as compared to the west

Soft power projection equal to economic power projection like loans and investment which China has more than the western can mustered. Propaganda warfare is more of fanboy stuff just to fool the ignorant.

US brag their M1A1 tank is better protected than Russian, Chinese tank due to the better crew protection like blown off seperated weapon compartment. Do you really believe it?

 

[Bussard Ramjet]

Soft power projection equal to economic power projection like loans and investment which China has more than the western can mustered. Propaganda warfare is more of fanboy stuff just to fool the ignorant.

US brag their M1A1 tank is better protected than Russian, Chinese tank due to the better crew protection like blown off seperated weapon compartment. Do you really believe it?

I will tell you exactly what soft power means. Soft Power is the ability to lead and command respect and even deference without using any of the tangible assets like military or economic power.

For example, see in Hong Kong. A lot of people there have been turned against not only CCP, but China itself.

Look at Taiwan.

Look at China itself, where many youngsters are enamoured with West. Some even start campaigning against their own country.

Look at Ukraine, where they turned brothers against brothers.

I don't deny that soft power has a lot of hard power, like economic and military accompanying it. But it is a different aspect of political system as well.

 

[Shotgunner51]

Why didn't anyone mention the Rule of Law, and Judicial Independence?

Not on this thread or what? I believe I have mentioned this somewhere on PDF before, let me check again and come back to this thread. During the mean time, you may tag other members for their view.

I found that I have mentioned explicit support for judicial reform, further improvement of legal environment, multiple times. Some are in below:

Chinese Researcher in the West Thread | Page 3
HK’s competitiveness falls behind major mainland cities
Chinese stock market capitalization worth nearly $10 TRILLION
China’s Economy Showed Steady Growth In the First Quarter of 2015 | Page 2​

It's one of the many reforms needed to encourage creation, production, and consumption, which is the biggest challenge for Chinese economy as well as for global supply.

Though it's a cultural reason (as seen in other East Asian economies) that Chinese tend to save money, the Gross Domestic Savings is still way too high (the most important reason dragging China's GDP). Back in 2013, Gross Domestic Savings already surpassed $4.79 trillions per annum (see chart below, World Bank Data), and by Dec 2014 RMB Savings Balance (人民币存款余额) reached RMB113.86 trillions (~$19 trillions). Diversion of savings into consumption is a challenge as well as an opportunity. Market reforms, including judicial reform, are urgently needed.

Gross domestic savings (current US$)
Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption). Data are in current U.S. dollars. World Bank national accounts data, and OECD National Accounts data files.
Catalog Sources World Development Indicators

Gross domestic savings (current US$) | Data | Graph​

 

[Bussard Ramjet]

I found that I have mentioned explicit support for judicial reform, further improvement of legal environment, multiple times. Some are in below:

Chinese Researcher in the West Thread | Page 3
HK’s competitiveness falls behind major mainland cities
Chinese stock market capitalization worth nearly $10 TRILLION
China’s Economy Showed Steady Growth In the First Quarter of 2015 | Page 2​

It's one of the many reforms needed to encourage creation, production, and consumption, which is the biggest challenge for Chinese economy as well as for global supply.

One of the major challenge though is that to have an effective judicial system, you need to keep it independent of the legislature and executive, which is the CCP here.

But is CCP willing to give up its power over the Judiciary?

The CCP's general urge to keep power with itself is one of the biggest challenges for China itself.

 

[TheTruth]

Chinese members here, almost exclusively share positive news about China.

I wonder, wouldn't it be better to also talk about challenges facing China. Every country has its own set of challenges.

What are the challenges facing China according to you, in its quest to become a developed economy?

@AndrewJin @TaiShang @Martian2 @Shotgunner51 @cirr @cnleio @FairAndUnbiased @tranquilium @Chinese Bamboo @Chinese-Dragon

All you need to do is refer to opinion polls. Most Chinese rank their concerns as follows: 1. environment 2. corruption 3. inequality.

I don't necessarily agree but those are problems to be addressed. These are problems that should also be addressed in other countries, but never will be. So there is hope for China.

 

[Shotgunner51]

One of the major challenge though is that to have an effective judicial system, you need to keep it independent of the legislature and executive, which is the CCP here.

But is CCP willing to give up its power over the Judiciary?

The CCP's general urge to keep power with itself is one of the biggest challenges for China itself.

There are many articles discussing about Xi's vision and progress so far, see below

China Takes Small Steps In Limited Local Judicial Reform | China Bystander
Xi Jinping’s Vision for China’s Courts | The Diplomat
China’s Legal Reform: A Balancing Act | The Diplomat​

My opinion is: Yes, let's reform, with great care! Typical PDCA (Plan-Do-Check-Act) cycle for sustainable continuous improvement. Move forward carefully, take no chance, no big-talk revolution, it isn't VC investment no failure however small is allowed, it's the very foundation for China to live on tomorrow.

 

[Bussard Ramjet]

I also think one of the challenges that China faces right now is the lack of a credible opposition.

So when people are either disillusioned with the government, or for whatever other reasons, they turn to the only opposition they can see, which is the Chinese "activists" sitting in foreign enclaves spewing propaganda, who are totally in the pockets of the west.

What China needs is a credible way in which normal citizens can raise their concerns, involving an opposition of sorts, and independent media. Remember, one's own should be trusted over others.

@Shotgunner51 @Edison Chen @AndrewJin @Martian2

 

[Donald Trump]

What are the challenges facing China according to you, in its quest to become a developed economy?

They need to shed their arrogance! It seems to be getting worse every passing day resulting in countries now hesitating to do business with China. Their FDI inflows have fallen dramatically and dropped below India which has become the number one FDI destination in the world.

 

[Dungeness]

Chinese members here, almost exclusively share positive news about China.

I wonder, wouldn't it be better to also talk about challenges facing China. Every country has its own set of challenges.

What are the challenges facing China according to you, in its quest to become a developed economy?

@AndrewJin @TaiShang @Martian2 @Shotgunner51 @cirr @cnleio @FairAndUnbiased @tranquilium @Chinese Bamboo @Chinese-Dragon

RT like propaganda machine that can grab western audience.