CHINA

No Time to Retreat

Beijing could have used the crisis as an excuse to slow market reform. Instead, it's all systems go.

By Duncan Hewitt | NEWSWEEK
Published May 2, 2009
From the magazine issue dated May 18, 2009

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  • Posted By: wcreader @ 05/21/2009 1:50:10 AM

    Glad to see China to take actions to open a new stock exchange, to ease the world economy crsis. It is the hope that with all the actions, the living standard the quality of life, education level of every Chinese ctizen be continue to improve. We are talking about 1/5 of the human population. It is also the wish that with the improved of economy China, the world world economy will be improve as well. Again, that is a joint force of many nations. Win-Win for all, that is our wish of 2009.

  • Posted By: Song @ 05/07/2009 7:21:36 AM

    China has no choice but to move forward with a propaganda-inducing move. Anyone who has lived here for more than 10 years knows that this is a nation of smoke and mirrors- a stage production for the purpose of wowing naïve media types and business people. The brick and mortar is sure to impress but the software will fall far below expectations. China has a long way to go before it becomes a financial center. The rule of law will never be realized in a one-party enterprise with no independent judiciary or legislative branch. And financial markets cannot operate without the rule of law. This is just like the staging of the Olympics- while the party went to great expense to ???host??? it, foreigners were actually kept away via draconian visa restrictions. The party willingly allowed tourist-related businesses to suffer in order to maintain absolute control. The end result was a fake, picture-perfect post card that screamed ???look at us, we are a world power???- with all the hoopla and slight-of-hand, only the old hands smiled and noted that all the seats were empty.

    • Posted By: judymac @ 05/11/2009 7:28:49 AM

      Song, I do not care what your opinion is. China is the one who creates the miracle--not you (white men's running dog.)

  • Posted By: HowardXue @ 05/08/2009 9:52:25 AM

    As long as the GEM will bring the capital the business sector desperately need, it is a step forward.

  • Posted By: Aditya Mookerjee @ 05/04/2009 11:53:38 AM

    For China to be a financial powerhouse, it will need to be a buyer, predominantly, instead of a seller. It will need to buy commodities, not for itself, but for the world community, and the world will need to purchase these commodities from China, for themselves. This is not a viable probability, perhaps, because China needs commodities more for her own use, rather than for trading to other nations.

  • Posted By: MagicDragon @ 05/03/2009 8:01:51 PM

    I lived in China for the past three years. This is the country of growth and expansion in an unprecedented way! For younger people, some advice: Learn Chinese, move here! Get rich!

  • Posted By: KristinaBrooker @ 05/03/2009 2:52:37 PM

    Hey I control the interest rate. I did put the oil to $147, then $40,
    not $200 -it was a choice I made.

    Kristina Brooker (126 395 086)

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