Private enterprise is the key to China's economy

Article Abstract:

The private sector has been instrumental in driving the economy of China to achieve a $31 billion trade surplus for the first two quarters of 1998. Experts believe that China must place more importance on the private sector in order to counter the losses incurred by its insoluble state owned enterprises (SOEs). SOEs have proven to be inefficient since the late 1970s, with a failure rate of up to 80% in 1998. On the other hand, the non-state sector has consistently proven itself to be efficient and lucrative, accounting for some 80% of the nation's GDP and generating some 100 million new jobs.

Administration of General Economic Programs, Business Aid Programs, Finance, Government business enterprises, Public enterprises, Business assistance, Free enterprise

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Devaluing China's currency to restore competitive edge to export industries isn't likely to work

Article Abstract:

Chinese trade officials must underscore the imposition of an open door policy, instead of devaluing the yen, in order to acquire long-term economic improvements. Devaluing China's currency would cause prices of export materials to increase, thereby hindering commercial growth. Although currency devaluation would generate advantages for domestic business operations, such benefits may be offset by inflationary pressures. Instead of highlighting exchange rates, the Chinese government must focus on improving the flow of direct and foreign investments in the country.

Administration of Urban Planning and Community and Rural Development, Economic Development NEC, Prices and rates, Foreign exchange, Foreign exchange rates, Currency devaluation, Devaluation (Currency)

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After succession and Hong Kong, Jiang tries for hat trick

Article Abstract:

President Jiang Zemin has proven himself as an able and competent leader with a number of substantial accomplishments, including the recent Hong Kong turnover to China. And now, Jiang undertakes another monumental challenge as he pushes for "bourgeois liberalization." The move is part of a two-plan initiative which involves the campaign against political rival Qiao Shi and regulation of mismanaged and slack state-owned enterprises.

Jiang Zemin

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