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For almost 6$ years, 8e #erueryhas presented contemporary news and vlews of thina to the wotld in English and othet wiews agld amanysis on hot topirs related to (hina, Africa and fhina-Afriea relations over the past 30 years. Iind out about the world from a (hinese perspeetive. You will diseover in-depth analysis, special columns and comptehensive repotting by prsfcssiueral iournalists amd editors frorn [hina and around the world. Follow us on our lwitter, Youlube and tacebook aecounts atld keep up tryith the latest developmcnts. (01{TE1{rS v01.59 N0.34 AUGU$25, 2016

EDITOR'S DESK 02 AChancetoCgllLbute

THIS WEEK

COVER STORY

WORLD 99 P9!!9r lal9ll'qt Hqyg, .... .,luPgf..r....on8l9.Tgr9J9.. WWll crime.s . .acknowl.edges NATION

34 Pin pointing Il'g.lLgP"lg"m l"*ii19,q.-'f .c ... ..Tegilgt 1neoii,in. . attention

BUSINESS y-ile r- 19 ll ! 9".t Ii lg-.- -9f s 0utsi.zed .seaplane.expands.China emergency,response capabilities. . .

38 MarketWatch . ?.3 2 i Collaboration for Joint 7.22, Universal Outreach Growth Hope rests on for constructive CULTURE China's economy continues to underpin direction in world affairs 42 Sleeping BeautyAwakens in China Contemporary choreographer-debuts global prosperity . . . work in ...... Vr.2a4, I nnovativeness and 44 UnderstandiLg- 9t'in. ?.3 a; 1 An Economic Com parison lnclusiveness ..ILtPgel,!l.YYo.td9. . . of G20 Members Contributing to global economic governance at FORUM '*"= TimetoRethink 46 Will Relaxed Funding Controls i . 7.'.?-Z'z Promote Resealgh] Globalization A Shared Opportunity .. . . Widespread insecurity and China's G20 presidency will inequality call for a new type help strengthen the group's EXPATS EYE of dialogue legitimacy 48 The Cover Up w.1w.991. . . PS:qlgg.9n f_v_e-face wll ,a.27:, Chaos and Order ?.2 i Goodbye EU, Hello China! . .9c99!s9ry.. China's proposals can pave the way Britain looks east for support to a brighter future after Brexit Cover Design: Wang Yaiuan

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A Chance to Contribute

The 2016 Group of 20 (G20) Summitwilltake the G20 agenda. These measures display place in Hangzhou, capital of east China's China's determination to push forward struc- Province, on September 4-5. As a tural reform and opening up as well as its primary platform for international economic active role in maintaining global economic cooperation, the upcoming G20 Summit is balance and promoting sustainable develop- steering the world's attention to the middle ment kingdom. This summit has provided China The severe global economic situation is with an opportunity to play a more active role now underthe influence ofvarious social and in the G20 platform, marking a new starting political factors. The priority is to locate the point in China's engagement with global source of the problems that are slowing the economtc govemance. global economy down and devise a recipe As the second largest economy and a for economic improvemenL China has put leading driver of global , forward the theme of the summit as'Toward China has made use of the hosting of the an lnnovative, lnvigorated, lnterconnected G20 Summit as a chance to push forward and lnclusive World Economy." the opening up of its service sector. lt is Key topics for discussion at the sum- trying to ensconce itself deeply into the mit will includel a new path for groMh, new round of globalization. This will cast more efficient global economic and finan- a far-reaching influence on China's eco- cial governance, robust nomic and social development in various and investment, and inclusive and inter- aspects. connected development. The focus is on Since it assumed the 2016 presidency addressing the most striking significant of the G20, China has analyzed the macro- and urgent challenges facing the world economic situation and tried to coordinate economy with a view to spearheading in- various policies focusing on toplevel design ternational cooperation. of structural reform. For example, China took Notably, China pays attention to the lead in formulating the Hangzhou Action strenBthening communication and policy Plan, to be issued at the summit, and has coordination with developing economies worked to fulfill the goal of "strong sustain- and industrialized countries alike so as to able and balanced growth." help further expand global economic gov- China has reactivated the lnternational ernance. Hopefully, guided by this summit, Flnancial Architecture Working Group. For the the G20 will inject new vitality into the world first time it has brought green finance onto economy for its better growth. I

134*2V4V*U2 V Sena an e-mail: [email protected] Please provide your name and address along with your submissions Submissions may be edited.

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htto:/iwww.bireview.com THISWEEK

A OUAI\|TUM LEAP A rocket carrying the world's flrst quantum communication satellite, Micius, blasts ofl at the Jiuquan Satellite Launch Center in Gansu Province on August 16. The satellite, developed by the Chinese Academy of Sciences, is named after an ancient Chinese scientist. Circling the Earth once every 90 minutes along a sun-synchronous orbit at an altitude of 500 km, Micius is designed to enable hack-proof quantum communication by transmitting undecipherable information.

http://www.bjreview.com AUGUy 25, 20r6 BHJlllG RII/IEW l fi a n g o n g -2, which wi[[ accom- modate two astronauts tor up to 30 dags at a time, was delivered to the center in earig Jutg, and its canier rockets arrived one month later. Authorities' Responsiveness Govemment departments have been required to respond Faster and better to public concems, according to a circutar issued bg the State CounciL China's cabinet, on August.l2. "Regarding exceptiona[ emergencies, press conferences should be held within 24 hours, and responses to other topics should be made within 48 hours," said the circu[ar, which stressed that inForma- tion shou[d be regulartg updated. The document said that spokes- persons or departmental heads should be present at press briefings, and inFormation should be "accurate, we[.Founded and pertinenL" lt added that in responding to pubtic Appeal for Peace questions. officials shoutd be given a certain [eve[ oFdiscretion, and mis- Detegates from China South Korea and Japan at an assemblg on August 15 at the Memoria[ Ha[[ oF the Victims in to some Nanjing Massacre bg Japanese lnvaders in Nanjing, Jiangsu Province. takes should be tolerated The dag marked the 7st anniversary oFJapan's unconditional sunender at the end oFWortd War ll. degree. The circular atso contains a two-gear plan to train a[ oFficiats in charge of pubticitg and spokesper- sons oFState CounciI departments Lawsuit other officials in charge oFtre specific Space Mission and administrations at or above areas concemed in cases'it said. countg leveL Requirements According to the SPC, those Chind s 5 h enz h ou-l/ spaceshi p, set who cannot attend should designate to take two astronauts into sPace, The Supreme Peop[e's Court (SPC) Wealth Report other government staff to appear on was delivered to the Jiuquan Sate[ite released a circu[ar on August 16 their behalf. Theg shoutd not have Launch Center in northwest China Guangdong Province in south China making it mandatory For relevant [awgers as their so[e representatives on August 12. has overtaken Beljing as the Chinese officials otgovemment bodies to in courL General assemb[g and testing mainland region with the largest persona[[g appear in court when The circu[ar also banned courts wi[[ begin at the center ahead oF the super-rich popu[ation, according trials invo[ving major administrative From retusing or delaging such vehicte's [aunch, which is schedu[ed to a report trom Hurun Research disputes take ptace. [awsuis, stating that principals ot For mid-October, said a statement bg lnstitute and Chinese insurance giant The stiputation applies to the courts tound doing so wi[[ be Chinas Manned Space Engineering Taikang LiFe lnsurance Co. Ltd. administrative cases that affect the disciplined and punished. OFfice. ln Mag this gear, the Chinese pubtic interes[ come under intense "Resolute efforts should be The spaceship wi[[ transport maintand was home to aboutl34 public scruting, and are [iketg to in- made to deter ang i[[ega[ act to personne[ and supplies to China s mittion high net worth individuals duce mass incidents. Courls shoutd interFere in and obstruct a court's second orbiting space [ab, (HNWls) each with assets overl0 atso issue notices to recommend handling of an administrative case," Tiangong-2,which is due to be mil[ion guan $].51 mitLionFalO.T officials' appearance in other cases, the circular said, urging courts to launched in mid-September. percent Uear-on-gear increase--the the circular said. keep ctear records oFgovemment The astronauts selected tor the report shows. "Offi cials who shou[d appear in oFficials attempting to influence mission are both male and have Among provinces and cities, court include govemment departrnent case management and outcomes as been undergoing intensive training. Guangdong, rather than Beijing, now principals as detendanb, as well as prootoFliabititg in the future. the statement said. has the largest and fastest growing

4 BHJIT{G RTI,IEW AUGUST 25, 2016 http://www bjreview.com THISWEEK

number of HNWIs with asses over'10 that lived neartg "comtort stations." mil[ion guan-about 240,0OG- NGOs trom eight countries chalking up 17.65 percent annual and regions, inctuding China, the growth. Beijing ranks second with Republic of Korea and lndonesia. are 28,00O such residenls, Fottowed bg working together on the nomination. Shanghai and Zhejiang Province, the The museum, opened in report shows December 2OI5, is situated on the Business owners, senior Former site of a WWll Japanese mi[i- corporate emploUees, propertu tary brothel which was established specu[ators and proFessional inves- after Japanese troops occupied tors are the Four keg occupational Nanjing at the end ofl937. Around groups making up Chinas super-rich 6O such brothe[s existed in Nanjing poputation, the report pointed ouL at the height of the Japanese occupation, according to Su. War Crime Survey The Liji ALLeg ComFortWomen Residential Permit Museum in Nanjing, east Chin4 Beijing wi[[ introduce a new resi- has begun coltating inFormation dence permit sgstem on Octoberl, on militaq brothels, or so-called Attraction of Handicrafts [oca[ authorities said on August 11. "comFort stations," established bg According to provisional regu[a- Children look at clag sculptures at a cultural center in Raogang Countg, Hebei -Japanese armed Forces during their tions reteased the same dag, Chinese Province, on August 14. A series oFactivities to do with Fotk customs were hetd occupation oFthe citg during Wortd citizens who stag in Be'1jing For over there during the summer vacation For chi[dren. Warll. six months with a stable job, fixed The investigation wi[[ produce a residence or in fulltime education comprehensive record oF-Japan's war wi[[ be able to applg For the new crimes, according to museum cura- permit, which wi[ be issued in about Su Genomics lnstitute, one oFthe the visionary state govemment com- tor Zhiliang, and the evidence 15 dags. Hotders oFthe permitwi[[ mitted to innovation and science witl be used in support oF the ongo- be entitled to mang oFthe benefis wortd's top genome sequencing cen- ''comFort driving Forces oF economic ing apptication to have enjoged bg Beijing's over 20 milUon ters, wi[[ emplog lO [oca[ researchers as the iLs new development " Wang said. women" inscribed on the Memory oF permanent residents----d ucationa[ at HQ, the compang an- the Wortd Register, established bg nounced a media conFerence Deputg Premier opportunities, emp[oUment suppoG during Queensland UNESCO in l99os. on August 16. and Minister forTrade and the senior citizen benefis and social An exhibition and a report on BGI president and co-Founder lnvestment Jackie Trad said she was welFare. the museum's 6ndings are sched- Wang Jian said the new centerwitl deLighted about BGI's establishment, uled For next gear. be based within the existing grounds as it means more job opportunities The surveg witl be compteted in New BGI HQ oFthe QIMR BerghoFer Medical tor [oca[ researchers. three parts: sourcing oF p[ans, maps, China's BGI has chosen Queensland, Research lnstitute. 'Theg witl be working ctoselg photos and videos oFJapan's mi[i- Australia, as its Asia-Pacific head- "We have been consider- with Queensland universities and tary brothels in Nanjing; cotlating quarters and wi[[ start operating ing coming to Queensland For govemment bodies on keg research interviews with "comtoft women" and trom its new Brisbane hub Forthwith. some time given the strength oF issues in genomics, healthcare, agri- witnesses; and interviewing those BGl, Formertg known as Beljing Queensland's research sector and culture and biodiversitg," Trad said.

Deep Sea Research

Staffmembers sampte seaftoor sediment through a samp[ing tank onboard deep sea exp[oration shipZhang Jran in the Sotomon Sea offPapua New Guinea on August 14. Zhang Jian started environmental exp[oration in waters near the New Britain Trench in the Sotomon Sea on August 12.

http://www bireview com AUCUST 25, 20]6 BEIJITIG REI,IEW 5 THISWEEK

oriented and gtobaL ltwi[[ generate affordable housing and pubtic trans- atl provinces and municipalities, as Stock Connect mang positive outcomes," Li said. portation construction, an officia[ we[ as the Xinjiang Production and The Chinese Govemment has The Shenzhen-HK Stock said on Augustl6. Construction Corps, have released approved ptans to connect the Connect arrangement wi[[ help Bg tre end ofJune, *re counrg their reForm plans on the household Shenzhen and Hong Kong stock investors to share more oF the had met 66.9 percent otis annual registration sUstem. exchangei Premier Li Keqiang said dividends from economic growth on shan$-town renovation tanget, 82 The Central Govemment is on August16. the Chinese main[and and in Hong percentage poins higher tran in supporting 37 towns to innovate The preparation for the launch Kong and promote ctoser partner- he same period last gear, said Zhao intrastructure investment 6nancing, oF the Shenzhen-HK Stock Connect ship between the two markets while Chenxin, a spokesman for *re National hetping sma[ and medium-sized scheme is generatg in ptace, Li said shoring up Hong Kong's role as an Dwelopment and Refo rm Commission cities and towns to improve underde- at a State CounciI executive meeting. intemationa[ financia[ center, the NDRO, at a na^rs briefing. veloped infrastructure such as water, A simitar [ink between the premier added. As For affordabte urban housing heat and gas supptg sgstems as we[[ Shanghai and Hong Kong bourses The scheme wi[ be launched at projecs, 97.9 percent of the annua[ as sewage and gartage treatment was launched in 2014. lt allows an appropriate time dris gearafter target had been reached as oF the Facitities investors on the maintand and those *re regulatory rules and technical end oFJune, Zhao said. Zhao atso said that China in Hong Kong to trade selected preparations are completed, Chinas ln the first half oF2O16, citg and witl strive to Foster new pitlars oF stocks on each othe/s exchanges. securities watchdog said on Augustl2 intercitg railwag networks grew rap- economic growth and deepen 'The ro[out oFShenzhen-HK id[g. Rai[ transit in 25 cities reached a intemationaL cooperation in its Stock Connect after that between Urbanization length oFmore than 33O0 km, and urtanization drive. Shanghai and Hong Kong marks another3,SOO km is under construc- another concrete step For China's Promoted tion in 37 cities. The intercitu ramc SDR Bonds capital mar{et toward becoming China has made significant progress network has hit 125O km. A division oFthe Wortd Bank has in shantg-town renovation and Moreover, [oca[ govemments ot one that is more law-based, ma*.et- been altowed to issue bonds de- nominated in special drawing righs (SDR) in China's interbank bond markeL The lntemational Bank For Reconstruction and Development was approved to issue bonds worth 2 biLLion SDR ($279 bittion), according to a statement on the website otthe Peopte's Bank oFChina on August 12. The Chinese guan wit[ be the cur- rencg oFsettlemenL The inc[usion oF the guan in the SDRwiLl" take effect in October. The first batch wi[[ be put on the mar*et "soon," said the state- ment, adding that intertank debt denominated in SDRs wiLL diversifu investment portFo[ios both in China and abroad. The lndustrial and Commercia[ Bank oF China, the country's [argest lender bg market value, witL be the [ead underwriter For the issue. These wi[ be the first bonds denominated in SDR since 198].

Apple lnvestment U.S. tech giantAppLe wiLL increase investment in China and activetg New Energy Power Generation participate in Chinas "lntemet Ptus" A tida[ current energU generator set situated in Zhoushan, Zhejiang Province, on August I5. strategU and smarter manuFacturing, The 3.4-megawatt generator set was independenttg developed bg China When it achieves stabte operation, it is said the compang's CEO Tim Cook expected to generate 6 mitlion kwh oFetectricitg annua\. in Beljing on August 16.

6 BHJtltG REII|TU' AUGU$ 25, 2016 http//www,bjreview.com THISWEEK

the $73-biLl.ion uti[itg, according to Renovaveis, according to another people with knowtedge oFthe matter. person. The fu[ dea[ could reach 5O Bonaire Participacoes and bil.Lion reats $15.6 bi[ion), inctuding Banco do Brasil SA s pension Fund, debt, the person said. known as Previ, have given inForma[ approval to set[ their combined Greening Beijing 44.5-percent stake in CPFL For 25 The Beijing Municipal Govemment reals ($7.8) a share, said the insiders has raised overlO billion guan ($1.51 who asked to remain anongmous. bittion) fiom socia[ enterprises to The terms are the same as those landscape the capitaL the citu's the Chinese compang eartier offered Landscape and Forestry Bureau said when it agreed to bug Brazitian on August12. compang Camargo Correa's stake The funds are being used bg in the power distributor in Ju[g, and projecs of publ.ic-private partner- the deal witl [ikelg be announced in ships and other toundations to bui[d a tew weeks, according oF Manufacturing Breakthrough to one the wetland parks, ptant fruit trees and peop[e. start seedling nurseries, said an oF- Train G8O41 is readg to depart from the Dalian North Rai[wag Station in State Grid is cunenttg engaged ficial with the bureau. Liaoning Province bound For the provincia[ capital oFShengang on August l5. in due ditigence For the Camargo From 2oll to 2015, neartg 9O This mar*ed the beginning otChinaStandard Etectric Multiple Unis (EMUs) Correa deal a process that witl take bittion guan ($13.6 bitlion) went into trains coming into operation. two more weeks, according to a third Fxed assets investment in Beijing's China designed and developed the EMUs and owns at[ oFthe associared person with know[edge oFthe mat- landscaping industry, a majoritg oF intel[ectua[ propertg righs. ter. AFter that, State Grid wi[[ send a which was backed bg the govem- Forma[ offer to CPFLs shareho[ders, menL who then have 3O dags to respond. The bureau ptans to increas- Cook made the remarks while have alreadg quatified. The sa[e wou[d increase State ingtg utitize more ma*et-oriented meeting with China s Vice Premier Those agencies, inctuding Grid's stake in CPFL to 68 percent approaches to col[ect Funds in the Zhang Gao[i, who cated on U.S. industry leader Atipag, were first The Chinese compang has to future bg giving preFerential treat- companies to increase their invest- authorized in 2O1l and wi[ have their extend the offer to a[[ sharehotders, ment to enterprises that invest in and ment and expand the industrial services extended For another five which also include subsidiary CPFL establish "green Foundations." chain oF their businesses. gears. Zhang said that trade and Some otthem, however, wi[[ investment cooperation between have to narrow their scope oFservice China and the United States injects due to serious violations oF rules or dgnamism into the two countries' stuggish business, the PBOC said. economic development and booss There are around 27O third- g[oba[ growth. partg agencies that own pagment Cook also said thatApp[e ptans licenses in China, with ontine trans- to set up an independent research actions surging 46.9 percent gear on and devetopment center in China gear to ll.8 tri[ion guan ($1.8 triltion) beFore the end oF this gear, the first last gear, according to statistics from in the fuia-Paci6c region, though he consu[ting fi rm iResearch. did not reveal the specific location. Wth the exception oFA[pag and Tencent's Tenpag, however, mang Licensing Suspended third-partg agencies have struggled to find good prof t models, with The People's Bank oFChina (PBOC) some starting to explore services said on August 12 that it wi[[ ha[r the such as peer-to-peer lending and [icensing oFnew non-bank pagment crowdFunding platforms. agencies, as authorities try to better regutate the Fast expanding industry. Vitalizing "No new institutions wi[ be Share Acquisition Village Economy approved For a certain period. The State Grid Corp. oFChina has A tourist walks along an atteg in a vitlage in Songgang Countg, Zhejiang in principte," the PBOC said in a reached a dea[ to gain control ot Province. statement, white announcing an Braziti CPFL Energia SA after two Located in southwest Zhejiang, Songgang has more than IOO intact extension oF business licenses For 27 major sharehotders agreed to se[ traditionalvi[ages, which can provide people with a chance to Fee[ the third-partg pagment agencies that the Chinese compang their stakes in beautg oFgreen mountains and water and retieve stress

http://www.bjreview.com AUGUsT25. 2016 BEtJtilG Rtvttw 7 THISWEEK

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Rescuers search for survivors in the debris Locals dressed in costume perform at the of a destroyed house in Arequipa annual Saint Lambert March, which on August 16. At least nine people died and re-enacts a march by Napoleon's army an undetermined number of people were on August 15 injured after a 5.2-magnitude earthquake hit Arequipa on August 14

GREECE

A cruise ship collides with a naval vessel 35 km southwest of Athens on August 16, leading t0 four deaths and four injured

8 BEtJtt{G RtlJttW AUGUy 25, 2016 http.//www bireview com THISWEEK

LI BYA

A member of forces loyal to Libya's UN-backed Government of National Accord holds a position, targetingjihadists of lslamic State group in a neighborhood in Sirte on August 14

n President 14amnoon Hussain addresses a ceremony in lslamabad to mark the nation's 70th lndependence Day on August 14

TH E UN ITED STATES

People wait for the security check at JFK lnternational Airport in New York City to reopen on August f5. All the flights at the airport are suspended following reports of shooting inside one of the terminals

http//www bjreview com AUGUST 25, 2016 BEIJII{G REIIIEW 9 Olympic divers Qin Kai (efu and He Zi not only won medals but also made one of the most important decisions of their lives in Rio deJaneiro, Brazil. ln front of a cheering crowd on August 14 Qin got down on one knee and proposed to He with an engagement ring He, who had just come off the podium with a silver medal from the women's 3-meter springboard, nodded yes. Qin, a two-time Olympic champion, announced that ldle Theaters he would retire from his athletics career after landing a bronze in the men's synchronized diving at the Rio Games OrientalOutlook three days earlier. Qin, 30, and He, 26, have been dating for more than August 18 six years, the latier told reporters. "He has made a lot of There are more than 2,200 performance promises," He said. "But the thing that has touched me venues in China, including some 1,000 the most is that I think he is the one I can trust for the rest professional theaters, according to the of my life." Beijing-based Daolue Cultural lndustry Research Center. However, 72 percent ofthe theaters see fewer than 30 perfor- mances per year. ln China, theaters are usually finan- were likely to be attracted by what would cially supported by the Sovernment, Lessons for lnternet now be considered sparse content. But which often looks for independent com- now, users have started to expect more panies to carry out the investment and Companies advanced lnternet services, as they become construction. Some of these companies increasingly familiar with the Web. lf lnternet aren't well acquainted with the function Economic Daily companies fail to stay ahead of the curve, of theaters. As a result, the design of a they'll soon be outpaced by stronger rivals. theater may not be able to meet users' August 15 The fall of KaixinOOl .com also demon- requirements. lf problems surface when KaixinOO'l.com, which used to be a prevailing strates the effects of the mobile lnternet the construction is finished, renovations social networking site in China, has recently trend. This website possessed 70 million often cost a large amount of money. been acquired and reorganized. lts experi- registered users in 2009, but it failed to keep Private troupes are incapable of con- ence, from shooting to fame to slipping to in step with the speed at which smartphones structing their own performance venues, the bottom in eight years shows a glimpse of were becoming popular. The rise of the mo- at least for now. Theaters are thriving but the lnternet industqy's complexity. lnternet bile lnternet has produced new darlings for the rent keeps rising. As a result, troupes companies need to make continuous efforts users in China such as Tencent's WeChat, have to hike ticket prices so as to cover to please users and improve their experience. while KaixinOO1.com has now been pushed the renL This, however, can lead to a de- They shouldn't rely on one or two games or to the wayside. cline in the number of theaterSoers. applications, even if they are very popular. Startups in the lnternet industry need to ln Europe, theaters are mainly funded The past decade was a period in which draw experience from Kaixin001 .com's rise by government, while in the United the Chinese people began acclimatizing and fall, which should serye as a lesson on States, they largely depend on donations to the lnternet. ln the early stages, users the need to keep pace with the times.

IO BEIJITIG RTIJIEW AUGUsT25, 20]6 http//www.bj review.com THISWEEK

tant to embrace electric cars. The key lies in New-Energy Car an insufficient supply of charging posts. Charging posts are not common in Services public areas and are usually difficult to be located. Therefore, priority should be given Guangzhou Daily to increasing the number of the posts. Guangzhou is also planning to launch an August 11 online software application, by which car The first batch of public charging posts for owners can access a map of charging posts electric vehicles in Guangzhou, south China's and their availability. Apart from a lack of Guangdong Province, has recently come charging posts, their inefficiency is another into operation. Guangzhou is planning to problem. lt usually takes as long as 10 hours build 5,000 charging posts in the coming, to charge a car, and car owners have to pay four years. lt is suggested that 30 percent of for both electricity and parking. parking lots in old residential communities Compared to public areas, equipping should be equipped with charging posts, residential communities with charging posts while newly built communities will be com- may be more effective. However, despite pletely furnished. their calls for this service, car owners' de- New-energy vehicles, a promising mands are often rejected by their residential emerging industry, have become increasing- comple/s property management company. ly popular in the market. Despite favorable Under these circumstances, changes to the government policies, the public is still reluc- status quo are highly anticipated.

from companies and individuals. Some experts in China believe that the best Chen Jingxian, an amateur aviator from southwest China's Sichuan Province, is on a journey way is for the government to provide to become the flrst Chinese woman to circumnavigate the world. She left Cleveland, Ohio, in subsidies, while the operation of the- the United States on August 1 in a single-engine aircraft. Her trip is estimated to last 45-60 days aters is left to the market. The more the including stops in Canada, lceland, Fmnce, Egypt Saudi Arabia Thailand and China. assigns tasks to theaters, Sovernment Chen, 3'1, divides her professional time between New York City the more the subsidies should be. This and Shanghai as a lawyer. She first learned to fly while pursuing her is actually aimed at benefiting the audi- maste/s degree in the United States and was licensed as a private pilot ence by lowering ticket prices. Many in 201 3. experts arg,ue that theaters are places Chen aims to win the prize of '1 million yuan ($150,000) otrered by Chen for the public to become more culturally WeL who became the first Chinese pilot to fly around the globe in 201 1, to literate and thus should be treated as a the flrst female Chinese to circumnavigate the world, She has a competitotl public service. though. Wang Zheng a U.S.-based flight instructor, is also scheduled to start a circumnavigation attempt later in August, according to media reports.

http://www.bjreview com AUGUST 25, 20]6 BEIJIT{G REI/ITW II COLLAB(IRATIIIN FOR

12 BEUI{G Rtt,ttl/ll AUGUsT 25.2016 http://www bjrev ew,com The author is an op-ed contributorto Beltng Reiew and a researcher with the Chinese Academy of lnternational Trade and Economic Cooperation

he world is facing the most eco- nomic and political uncertainties since the debt crisis in the 19BOs: The United Kingdom will leave the EU; the banking crisis in ltaly poses risks to the European financial system; price fluctuations of primary products are af- fecting many emerging economies; Japan's Abenomics has failed in reality; economic uncertainties and election debates in the United States cast a slur on the country's policy environment. ln the current circumstances, is China still one of the malor powerhouses for world economic growth? ls it still the major stabilizer for the world economy? Major world economic organizations, from the lnternational Monetary Fund (lMF) to the to the Organization for Economic Cooperation and Development, respond to these questions affirmatively. China has also showed its strong will to share with its trading partners the opportuni- ties for sustainable groMh, with the aim of better playing the role of powerhouse and stabilizer of world economic growth.

A larger role Early in the 1980s, China started to serve as a stabilizer for the East Asian economy. lts role was completely recognized during the 1997 Asian financial crisis. According to figures from the IMF and the People's Bank of China, comparing the coefficient of variation in the annual GDP groMh rates of East Asian economies from 1980 to 200'1 , China was the lowest at 0.35, while the coefficient in all East Asian economies other than China and Japan was 0.49. Such a low coefficient of variation in economic growth rates fully demonstrates China's role in stabilizing the East Asian economy. Moreover, during the 1997 Asian flnancial crisis, China maintained a stable ex- change rate of the yuan, preventing further proliferation of competitive currency depre- ciation in the region. lt is the stabilizing role China played that helped East Asian econo- mies overcome the financial crisis. After the 1997 Asian flnancial crisis, East Asian econo- mies didn't collapse or enter a "lost decade" ;; htto://www bireview com AUGU$ 25. 2016 BEtJilG Rtt,ttlll ll as did Argentina, Brazil and some other Latin outlook is more optimistic for China than for rect investment still surged 58.7 percent in American economies. Only three years after other major world economies. the first half of 201 6, demonstrating China's the crisis, East Asian economies resumed According to the World Economic Outlook, powerful dynamics to promote groMh of its growth. updated in July by the lMF, the baseline global trading partners. As the share of East Asian countries in growth forecastfor2016 and201-7 has been Based on the above conclusions, leaders the world economy was growing quickly, the modestly revised downward by 0.1 percent- of six major international financial organiza- 'l 997 Asian financial crisis should have soon age point relative to the forecast given in the tions came to Beijing on July 22 for a "1+6 spread to international financial markets. April edition. Similarly, the U.S. growth forecast Roundtable" to discuss economic issues with However, because of China's role in stabi- for 2016 was revised downward by 0.2 per- Chinese Premier Li Keqiang. For the purpose lizing the East Asian economy, the world centage points, the eurozone's 2017 growth of better playing the role of powerhouse economy prevented was from declining into was also revised down by 0.2 percentage and stabilizer of world economic groMh and great a depression, as it did in the 1930s. points, and lndia's growth forecast for 2016- sharing sustainable growth with its trading During the prosperous flrst decade ofthe 17 was trimmed down slightly. But in China, partners, China hosted the roundtable in 21st century, China and the United States growth the outlook was broadly unchanged Bei.iing and is ready to host the upcoming together contributed half of the world's eco- relative April, to with a O.'l-percentage-point G20 Summit in Hangzhou. nomic Browth. The average annual growth upward revision for 2016. of China's imports was more than twice the The value of China's imports has de- global average, driving growth in many other clined compared with a year ago, but that is Mutual efforts needed countries. After the U.S. sub-prime mortgage because prices in international markets are ln intensiflzing cooperation with its trading and European sovereign debt crises broke declining, while the volume of China's im- partners, China has showed strong insight out, China established itself as the stabilizer ports maintains marked groMh. The nation's and execution capability again and again. lt ofthe global economy. demand for imported products is still able took only three years for China to complete China's economic groMh has slowed in to provide its trading partners with enough the process of establishing the China-ASEAN recent years, but it still stood at 6.7 percent room for growth. After several years of high Free Trade Zone-from feasibility study in the first half of 201 6, and the economic growth, China's non-financial outbound di- through decision-making to signinB aBree-

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A bullet train runs on a railway bridge in Hami, northwest China's Xinjiang Uygur Autonomous Region

]4 BHJII{G RTI,IEW AUGUST 25. 2016 http://www bjreview,com ments-astonishing Japan, which cooperation in economy and had proposed such a free trade trade. zone 10 years earlier than China Former Philippine President but had been unable to create an '#.asE *ity W*6q **ei*,t-ry Benigno Aquino lll brought aBreement. September Hangzhou China China to the Arbitral Tribunal China has also demonstrated over the dispute involving the its sincerity in collaborating wlth South China Sea, but he also ap- ASEAN through working to wrap proved his nation's joining the llovernber Antalya Turkey up negotiations on the Regional Asian lnfrastructure lnvestment Comprehensive Economic Bank. Currently, the Philippines Partnership RCEP) as soon as pos- is performing well in economic sible, connecting its Belt and Road November Brisbane Australia growth, but the income gap in the lnitiative with ASEAN's development country is very big and unemploy- strategy, intensifiTing international ment remains high. lts economy cooperation in production capac- excessively relies on private con- ity, and supporting the ASEAN Septerrber St. Petersburg Russia sumption and the service sector Community Vision 2025 and the and has also suffered trade deficits Master Plan on ASEAN Connectivity. for many years. Potential risks in China doesn't regard the RCEP as a the Philippine economy must not means of competing with the U.S.- be neglected, especially since its June Los Cabos led Trans-Pacific Paftnership fiPP), Mexico economic structure makes its but it believes any sensible observer economy fragile in the face of will not ignore the voices within the Hovernber Cannes Fra nce external changes. Changes in in- United States opposing the TPP and ternational economic and political the facts that neither presidential environments will seriously affect candidate supports the TPP and its economy sooneT or later, espe- House Speaker Paul Ryan said on November Seoul South Korea cially domestic consumption and August 4 that the TPP doesn't have June Toronto Canada remittances from overseas Filipino support for a House vote this year. workers, which are of vital impor- Together with its trading partners, tance to the country's economy. September Pittsburgh United States China has the will and confldence The Philippines, suffering from to set up the RCEP as a regional free April London Britain economic and social uncertain- trade platform that is more stable. ties, needs a peaceful and stable But, one cannot clap with one Nosember Washington, D.C. United States external environment. Economic hand. China's will to share growth and trade cooperation with China opportunities also needs the col- can facilitate its sustainable laboration of its trading partners. (Conpiled byBeijing Review, designed by Pomelo Tobey) growth, and China can provide How active they are in developing the Philippines with such help. ln the Chinese market will decide the 20'1 5, the Philippines' trade deficit size of their share of the "China cake." The grew partly in 201 5, when China imported goods worth very rapidly, because its exports past decade has seen cases where different to China declined sharply. lts exports to $tU+.S billion and $ta3 bittion from South efforts in developing the Chinese market China in yuan-denominated terms dropped Korea and Japan respectively. have led to different economic outcomes. by 8.6 percent in 2015, and the decline ln the meantime Japan, once a "top-notch and South Korea provide the most grew percent in Japan studenf' among developed economies follow- to 13.1 the first four months typical example. of 2016. However, China's exports to the ing World War ll, also lagged behind the average Japan had been the largest source of ex- Philippines increase, growing level of per-capita GDP among high-income continued to ports to China for quite a while since former 1 percent 2O1 percent countries. ln 2000, per-capita GDP of high- from 5 in 5 to 2-7.4 U.S. President Richard Nixon visited China in in the first four months of this year. This income countries was $22,749, while that of 1972 and the embargo against trade with means that the Philippines cannot develop Japan equaled $37,292, over 6O percent higher China was removed. lt used to be unimagi- goods, than the high-income countries' average. ln without consumer capital and equip- nable that South Korea could replace Japan 2013, per-capita GDP of high-income coun- ment from China, but it is unable to take in exports to China someday. However, due advantage of the fast-growing demand in tries reached $AS,t t o, while that of Japan was to wrong decisions for political purposes, the Chinese market and rapidly expand its $:a.o:+. Japan got off the "train" of Chinese econom- Due to long-time close relations in econ- exports to China, as other ASEAN members ic growth in the first decade of this century, greatly omy and society, as well as historical and can. lt will be favorable news to the when China's foreign trade kept soaring. geographical connections, ASEAN members Philippine economy if the country can re- South Korea, sparing no effort to develop are China's frrst choice of partner in setting markably improve its relations with China. r the Chinese market, replaced Japan for the up free trade zones. There are disputes first time in 201 3 to become the largest ex- between China and some countries in the porter to China. ln that year, China imporled region, and China will make no concessions goods worth $183.1 billion from South on matters involving national territory and For more G20 afticles, please scan Korea but onty $t 62.3 billion worth of goods sovereignty. Beyond these disputes, though, Copyedited by Chris Surtees from The gap was further expanded Japan. China can still conduct mutually beneficial Comments to yushujunQbireview,com http;//www. bjreview.com AUGUy 25, 20r6 BE|Jrl{G Rtt,ltt/tI l5 AN EC(INOMIC COMPARISON OF EzO MEMBERS

Population GDP GDP per capita Debt-to-GDP ratio (current dollars) (current dollars) (Government gross debt as % of GDP) Argentina 43.098 mln $sBs.6 bln* gr3,5B9* 56.5%

Australia 24.016 mln $r,223.9 btn 36.8%

Brazil 204.451 mln $r,772.6 bln* $8,G70* 73.7o/"*

Canada $r,ssz.+ bln

China gz,9go

Fra nce $2,421.6 bln

Germany 81.900 mln . r, $e,esz.s bln

lndia 1.293 bln ,' . $z,ogo.z bln $Lorz* 67.zYo*

lndonesia 255.462 mln : $gsg.g bln* $3,362* 27.3"/o*

:. Italy 60.796 mln gt,Bts.8 bln

Japan 126.926 mln 1. :: $4,123.3 bln

Republic of Korea 50.529 mln . $r,376.9 btn* 35.9%*

Mexico 127.017 mln $r,r44.3 bln $9,009 54.0'h

Russia 146.3 mln ' $r,324.7 bln $9,oss 17,70/o*

Saudi Arabia 3I.386 mln $ose.z btn $2o,ot3* 5.8"/o

South Africa 54.957 mln $erg.o bln* $s,69s* 50.r%

Turkey 77.730 mln : $zse.s bln $9,437* 32.6"/o*

United Kingdom 55.097 mln . $2,049.3 bln

united States 32L601mln ....: :

EU 509.668 mln

*Estimated.

16 BEIJII{G REI,IEW AUGUST 25,2016 http://www.b jreview.com G20 encompasses nearly 85 percent of global GDP and two thirds of the world's population. Its members' economic performance has been essential to the global economic recovery and people's wellbeing. Howevet, development is not balanced, as each member carries its own burdens accumulated over decades. The chaft below illustrates recent performance in each of the 20 member economies.

Current account balance Unemployment rate Gross national savings lnflation (% change in (20I5 data) (% of GDP) average consumer prices)

-$rs.u btn li;:? c*ii,;tr:lq I',*:* i:Y:llt:: -.,o"*. __l -$ss.zo btn -< 6.08% 22.LSo/o r 1.53% Australia

- $se.gr btn 6.837"* Brazil ----+ i ll':l -$sr.ae bln -+ 6.99% r 1.11% Canada , +$293.20 46.000/" bln 4.05"h -L.44o/o China

-*.o1ol, j r0.09% l',,l.!: France +$285.20 bln 14.63oh* -r0:35.1o 27,320/0 10.L40/o Germany -y21z:bti iict t:tJt !i1n1. 4,930/0 lndia

-$u.76 btn 6.187.* - lndonesia -+ r''"': +$38.74 bln .rotoi^. | o.tr% Italy

+$137.47 bln -r 3.370/0 25.33"/. rO.79Yo Japan

+$tos.gz bln 13.64o/o* 35.66%* a O.lLoh Republic of Korea

ol" 14.25./" ,??t: Mexico l1i ll r! o'" l1'l --{ 5.58% a23.3t5oh Russia

t'::'t '':l)'l::': ,rr1io, z:tE"/o Saudi Arabia 11':il lll ': - 25.37"/"* -$13.67 bln rs:r47or

-$az.rg bln - - ll:'1': 7.67"/. I urkey -$rzs.+s bln -<5.38%-lo.zL"/:* L2.82"/. t0.0s% Un t.a f ngao, <529Y. T**1: I O.L20h United States +$392.36b1n *------r 2L.68'h 0 EU

-4ll] ,?r1* ij 7ti{i +*ri * 5 li i, 7ii 25 :il ri i* 2t }{.! 4{i ii ii 5 7fi i5 -9.4oo/" (Sources: Notionol Bureou of Stotistics of Chino, IMF World Economic lutlook, World Bonk, turosto! 0,20 officiolwebsite; designed by Po melo Tobey)

h[tp//www bjreview.com AU6U5T 25,2016 BEIJIilG REVIEW 17 TIME TO RETHINK

ince 2009, the G2O-the internation- al forum for economic cooperation- has become one of the key means by which global leaders can 8et together and work out ways to cooperate and ad- dress common themes. This year, the G2O Leaders' Summit takes place in Hangzhou, China, in early September. With its mem- bership spanning nations like China, lndia, Russia and the United States, as well as the EU, the group as a whole constitutes close to 85 percent of the global economy, and its decisions have potentially immense im- pact. The questions are, what can everyone agree on, and how can those decisions be carried forward?

Off target The problem with the G20 in the past was that it often seemed to miss opportuni- ties to address the most pressing issues at any one time. Discussion at the 2O14 G2O Summit held in Brisbane, Australia, was restricted because of the unwillingness of the host nation's government to prioritize talk of and the environ- ment. This was a great pity because the United States and China, at the Asia-Pacific Economic Conference in Beijing a few weeks earlier, had just agreed to a ma.ior accord in meaningful international agreement. ln that is experiencing what looks to be its most which both sides would restrict their carbon respect, the Brisbane event missed a big contentious presidential election in recent emissions over the next two decades. The opportunity. history, with Republican nominee Donald Brisbane summit also did little to prepare The pressure on this yea/s G20 to de- Trump standing on a vehemently anti- for the United Nations Climate Change liver something is heightened due to the globalist, protectionist platform. ln Europe, Conference held in Paris the following year, number of pressing issues facing the world the UK's decision in June to exit the EU has which resulted, to the surprise of many, in a and their complexity. The United States been ascribed by most experts to similar l8 BHJrl{G REI,TEW AUGUy 25, 2016 http://www bjreview.com (a largely ceremonial but hugely symbolic and Norway exhibit high levels of equality, role) is likely to result in another extreme with Gini coefficients of around 0.25, China right-wing success. comes in at0.46, the United States at 0.45, The revolt against globalization has and the UK at 0.32. spread across political systems, resulting in Although the phenomenon of increas- more-nationalistic and more-divided elec- ing inequality is recognized, how to deal torates and communities. Predicting where with it remains undecided. Redistributive tax all this might lead proves very diffrcult. One systems offer one method, but they have thing is certain, though. Given the levels of proved poor at coping with the upper levels anger and frustration, complacency is not an of wealth, and in the case of corporations, option. they have largely failed. One of the great controversies in both the United States and A catch-22 situation the EU in recent years has been the ability People rally in Dresden in Germany of transnational companies to seek out be- This year's G20 Summit gives global leaders on October 1 9, 201 5, to protest against nign tax regimes. ln an era in which so much the chance, from the perspectives the inflow of refugees of their trade occurs online, the issue ofthe physical different economies and political systems, location where business actually happens to paradox think about the central of the and where taxes accrue has become more current age: People have never lived longer, blurred and harder to manage. Outrage at enjoyed higher standards of living, or en- how major companies like Amazon, Apple joyed better health than present, they do at and Starbucks have been able to make huge yet levels of dissatisfaction are also sky-high. profits yet pay limited amounts of tax is one What can be done, however, when the of the factors contributing to public anger at very means to unlock more growth and globalization. stimulate moTe economic activity is also Another is weariness with austerity perceived by many as being the Source of all measures. For large sections of society in their ills? Free Trade Agreements and trade the United States and the EU, wages have deals are regarded with deeper and deeper remained stagnant, and job security has suspicion, and protectionist sentiment is been eroded. Many people in the UK blame intensiflTing despite the evidence from most immigration for their adverse economic economists that unless trade barriers are circumstances, despite academic studies removed and access to markets is increased showing that it usually stimulates growth. internationally, global GDP is likely to flatline. Fear exists that openness to outside markets Such stasis would almost inevitably cause means Breater insecurity at home. Almost a more unhappiness and dissatisfaction, there- decade has passed since the frnancial crisis by creating a vicious circle. So, what is the of 2008. Yet, its fallout continues, with public solution to this conundrum? distrust and anger at banks, international fl- nance and liberal market systems remaining Fear and loathing high. Common issues at the G2O will include inequity and inequality, issues that underlie The way forward the anti-globalization movement. Societies The G20 members all share the issue of how want to incentivize innovation; they want to deal with the beneflts and pains of glo- to encourage entrepreneurial individuals balization as well as the challenge of finding and to have dynamism in their economies ways to preserve the good things offered by and their companies. But studies-from unimpeded access to other markets while a famous one by French scholar Thomas protectinS their home markets and core Piketty to one by British economist Richard constituencies. Wilkinson a decade earlier-have shown While each nation has particularities that across the developed world, and now in its issues with globalization, from China in the developing one, inequality has never to the United States and Australia, the ac- been more severe. knowledgement that inequality, unequal The Gini coefficient is the most com- development and public uneasiness need to monly used measure of economic inequality, be addressed cannot be avoided. A new kind with one representing complete inequality of global dialogue about globalization and its (one person having all the wealth, for exam- impacts needs to start. What was regarded anti-globalist public anger elsewhere in an ple, and everyone else having nothing) and by some as unambiguously positive over era of trade deals and opening of markets zero representing absolute equality, with ev- most of the last two decades is now looking that have resulted in as many losers and eryone having exactly the same. According more complex. r winners. ln France, the radical right-wing to this measure, the United States, China, National Front, under Marie Le Pen, cur- and paris of Latin America, Africa and Europe rently enloys its highest ever position in the are now highly unequal societies. While north Cooyedited by Chris Surtees polls. ln Austria, a rerun for the presidency European countries like Sweden, Denmark Comments to liuyunyun@bjrevievr com http://www.bireview com AUGUST 25 2016 BEIJIIIG REI,IEW 19 AND

&y * ***

shocked the international community. After prosperous growth, as Slobalization and re- putting down the uprising Turkish President gional integration advanced in giant strides Recep Tayyip Erdogan announced the arrest of under the leadership of the United States- The author is an op-ed rebels involved. Since then, tens of thousands founder of the post-World War ll global order contributorto Beiing of people have been detained or dismissed or and winner of the Cold War. However, the Reviewand a researcher suspended from the military, judiciary and civil dream of peace vanished into thin air after at the Pangoal lnstitution service as well as from the education sector. the United States suffered terror attacks of September 11 , 2OO1 . After that, the world's Growing uncertainties sole superpower went to war in Afghanistan Since the end of the Cold War, the world has and lraq. global counter- I I I ith the soate of trouble witnessed undergone significant changes. Admittedly, Despite Washington's the relative decline of the United States' terrorism efforts, terrorism has become more W sn*y.i lx,;f i,[ i,'",T :# :::H power and global influence and its shrinking rampant worldwide. What is worse, U.S. inter- more chaotic. willingness to interfere in world affairs under- vention in South fuia, the Middle East and North ln the Korean Peninsula, the United lie the scenes of global turbulence. Africa has reduced many countries in these States and South Korea have pushed for- But, it is also worth pointing out that the regions to chaos. Religious extremism and ter- ward the deployment of the Terminal High current worldwide disarray stems from U.S. rorism have rapidly expanded to areas where Altitude Area Defense (THAAD) system, interventionist policies over the past several power vacuums exist due to the overthrow of despite strong resistance from domestic decades, during which the nation has sought regimes by Western powers. opposition parties as well as neighboring to export its values to regions that are not ready Today, the world is striving to maintain countries including North Korea, Russia and for them. achievements made over the last decades, China. A miniature, NATO-esque military The world economy enjoyed an era of but signs of reversal can be spotted in many triangle, led by the United States and incor- porating South Korea and Japan, is forming breaking the strategic balance in the region. Defeated in World War ll, Japan is now try- ing to rid itself of constraints laid down by the a"::: post-war order to play an aggressive role in in- ternational affairs. ln an election in July,Japanese Prime Minister Shinzo Abe and his ruling Liberal Democratic Party expanded their majority in the nation's parliament, sending the country futher down the road toward overthrowing its pacifist constitution. Last month, conflict and terror attacks continued in various parts of the world. ln war-torn South Sudan, two Chinese peace- keeping soldiers were killed on July 10 during fierce fighting between the opposing armed forces of the country's president and vice president. ln the south of France, at least 84 people were killed in Nice when a truck drove into a crowd celebrating France s National Day on July 14. Besides destrolng innocent livet the terror attack has also dented Europe's confidence and will damage its prosperity. A high-level tax symposium kicks off in Chengdu, southwest China's Sichuan Province, on July 23, servinB as The attempted coup in Turkey on July 15 preparation for the G20 Summit to be held in Hangzhou in September

20 BEUIT{G REI/IEW AUGUST 25, 20]6 http://www.bjreview com Protesters in Seoul on July 8 hold posters to oppose the decision to deploy the Terminal High Altitude Area Defense (THAAD) system in South Korea

places. Trade and new region- tacks in France and Belgium were local security competition and China's historic rise. al FTA initiatives, such as the Trans-Pacific citizens from immigrant families. They were China has realized that long-term peace Partnership (TPP) supported by the Obama born in Europe but eventually became ji- in the Asia-Pacific region depends mainly on administration, sideline the WTO framework hadists. the relationship between itself and the United for global trade. Britain's departure from the The United States, allegedly the most States. EU deals a heavy blow to the most successful reliable cornerstone for global Sovernance Under such circumslances, security has in- model of state-level economic integration. after the Cold War, has become the source creasingly become a concern for many regional The endless wars and conflicts in lraq, Syria of much uncertainty. lts ongoing presiden- countries. China has put forward new proposals and Libya continuously produce refugees tial campaign confuses many observers. By on building common and comprehensive secu- and iihadists. Even in the West, long-term any criterion, Donald Trump is not a typical rity with a cooperative approach, which differs economic stagnation and social problems politician. He doesn't even bother to hide markedly from the U.S.-led security system, are fueling populist politics. The geopolitical his obfectionable opinions about women, which is characterized by a zero-sum, exclusive confrontation between the West and Russia Muslims, minorities and immigrants, which and collective defense mentality. caused by the Ukraine crisis threatens the should be a critical defect in a presidential ln spite of the complicated security envi- security of the whole of Europe. candidate. Yet, he still won the Republican ronment, peace and development are the most Now, the world order faces the threat of Par!y's presidential nomination, leaving many ardently pursued objectives of all members of increasing fragmentation. The pursuit of build- wary about his foreign policy, should he take the international community. China will neither ing a 'Vorld government" to address global offlce. allow its legitimate national interests to be issues is deviating from its course. And, Western spoiled, nor resort to force to solve disputes civilization, having held a dominant position for China's role with other states. centuries, is now falling into comprehensive Modern-day global Bovernance needs decline. Change has also affected China, which has be- China's participation. More importantly, "China ln Western politics, it seems hard to come the world's second largest economy. For should and can offer the world a successful reach consensus on many issues. ln a ref- a long time, China was inward-looking. ln recent pattern in the exploration for a better social erendum held in 2014, Scotland voted to decades, though, it has gained a more inter- system," as Chinese President also remain in the UK. But in another historic vote national perspective and has become more General Secretary of the Communist Paty of in June this year, the UK decided to leave responsive to, and actively involved in, interna- China (CPC) Central Committee, said at the of- the EU, generating new divisions between tional afairs. ficial event held in Beijing on July 1 to mark the England and Scotland. The fuia-Pacific region has witnessed rapid 95th anniversary ofthe founding ofthe CPC. Divisions also exist among Britain's economic growth and sound relations over the China will keep opening to the world and neighbors in mainland Europe. EU unity last decade. But its peaceful tra.iectory has been working to promote communication between has been dampened by disagreements largely undermined by the Obama administra- its people and those of other countries. China on how to manage the refugee crisis. The tion's pivot-to-Asia strategy, which increases is making efforts to provide more public goods series of deadly terror attacks in recent regional tensions. Many Asia-Pacific states now for the international community and to work times not only reveals security flaws in have to take sides in the U.S.-China contest, together with other members to reform inter- Western Europe, but also reflects the racial an outcome that was obviously intended by national institutions. bias in Western society and the abject fail- Washington, and China has inevitably become ln September, the G20 Summit will take ure of successive European governments the center ofthe vortex place in Hangzhou, capital of east China's to properly manage immigration, create ln his book, The Pivot: The Future of Zhejiang Province. China will seize this opportu- genuinely inclusive societies and, thereby, American Statecrafr in Asia, KurL M. Campbell, nity to contribute its wisdom to the charting of avoid the deep-rooted social problems former U.S. Assistant Secretary of State for East a blueprintfora betterworld. r that have consequently arisen and now Asian and Pacific Affairs, said that the prosperity plague European states. Most terrorists and stability of the U.S.-led order rests in part on Copyediied by Chris Surtees who conducted the recent shocking at- how Washington manages Asia's intensiflTing Ccrnmenrs tc liuyunyunfd-b]review coin http//www bjreview.com AUGUY 25 2016 BEIJING REI,IEW 2I UNIVERSAL

The intention is to tighten Western political, capitalism, which undergoes various crises over The author is an economic, and military ties so as to maintain time because it is unsustainable. ln recentyearg educator and former global dominance. Western banks and financial markets owing to senior professional staff The vision regards the Atlantic stronghold rampant speculation and corrupt manipulation, member of the U.S. as the "center'' of power onto which the global triggered the crisis of 2007-08. Lack of effec- Senate Foreign Relations "periphery'' is linked and by which it is domi- tive national and international regulatory action Committee nated. Critics say this resembles the plantation facilitated the meltdown. systems of centuries past imposed on non- The financial crisis illustrated the conse- quences of permitting flnance capitalism to ill the upcoming G20 Summit mark Europeans in Africa, the Middle East and Asia. dominate national and international policy- a constructive new direction for the making and to preclude effective regulation international community? Clearly, the New international direction in the interests of stability and economic global situation today is in dire straits, and many Today, in the context ofthe new industrial revo- growth. see failed Western leadership and policies as lution, lessons from the past must be recalled The emphasis of the upcoming G2O responsible. lest yet another round of neoimperialism be un- Summit on economic groMh and development Many hope the G20 will play the leading leashed in the world. lt should not be forgotten is welcome and must lead to a new interna- role in fostering a new eTa of global growth and that the second industrial revolution of the late tional direction. lf not, the world will face ever development The crumbling post-World War ll 1 9th century caused a new wave of European sharper contradictions in the global economy. international financial and political architecture, imperialism particularly in Africa. The fundamental contradiction is between spreading international terrorism, and deep- Aside from military power, critics say the finance capitalism on the one hand and the ening social turmoil and poverty call for real central mechanism of such systems is finance productive forces of a modern industrial econ- change and new, constructive vision.

Repeating history? Almost three decades after the end of the Cold War, international tensions are increasing and the global economy is threatened by a lack of frnancial stability and productive economic de- velopment Critics say that the West has run out of ideas and solutions. Not only is Washington and the NATO alliance stuck in a Cold War mode, but they seem to be moving nostalgically back- wards to an updated version of 1 9th-century imperialism. The foreign policy establishment in the United States is now sharply challenged by Donald Trump, the blunt and bombastic Republican Party presidential candidate. The challenge resonates with the American people, who reject further unnecessary interventionism and seemingly endless wars. But the transatlantic elite in the United States, Canada, and Europe pursues a neoimpe- rial vision. For over a decade, this dominant elite has followed a geopolitical vision which takes note of the rise of China and the reemergence of Russia and seeks to build an Atlantic fortress.

22 BEIJII{GREVITW AUGUY25 20]6 http://www.b jreviewcom omy on the other hand. Certainly, finance must owing to continual development and mod- China wisely invited representative develop- serve industry, and not the reverse, as a basic ernization of infrastructure. The dense railroad ing countries to the G20 Summil All voices of principle of the real economy. infrastructure in the UKwas a primary factor. the international community should be heard, The lesson was not lost when the British and these representatives can bring a much Regulating'casino' capitalism went on to modernize the transportation infra- needed message and vision. Toleration of structure of lndia by building a massive railway cultural and political differences and of develop- The G20 process grapples with many pressing system as a key factor of integration and eco- ment models responsive to local characteristics issues on the financial side. lt is to be hoped nomic developmenL and values is essential to the international com- that concrete and effective measures and poli- The United States would never have devel- munity. Such toleration can foster a sense of cies will result Serious national and international oped into a modern industrial country without unity within diversity. reSulation of present-day speculative "casino" the systematic development of infrastructure China has advanced a historic proposal in capitalism is long overdue. which followed the British and French examples. the Belt and Road lnitiative, which is forward- ln fact critics say that the financial situation First came river and seaportt then canalg and looking and inclusive. lt brings mutual benefit to in Europe and the United States is worse than finally railroads. participants, not to mention a certain sense of just before the 2007-08 crisis. No significant The transcontinental railroad developed community, as did once the ancient Silk Road. steps have been taken to separate speculative under President Abraham Lincoln symbolized The United States has failed in its foreign investment banking fTom commeTcial banking. policy presidents the unity of the nation but also the integration under George W. Bush and Thus the world is more vulnerable today to an- pro- of the national economy. Although the United . Washington has failed to other severe crisis, they say. mote peace Rather, has States once had the leading railroad system in and development. it The G20s focus on development means promoted endless war and destruction. the world, it has declined greatly and now re- focus on the real economy, which some call the quires redevelopment It is time for new ideas and new leadership physical economy. This stands in contrast to in world affairs. The universal values of equality, ln today's world, modern seaports and the virtual economy of speculative "casino capi- mutual respect, and mutual benefit must be airports join railroads as being fundamental to talism." This means a focus on the productive restored within the international community. the real economy of productive forces. To its forces in industry and agriculture. The G2O mechanism may well be a key credit, the G2O is addressing such issues and It is essential to foster growth and develop- to a better future for mankind. ln a sense, the no doubt will spur a modern vision for global ment investment in productive forces. The hopes of the world focus on the upcoming development benefiting developed as well as present G20 emphasis on investment and summit hosted by China in the ancient city of developing countries. sustainable growth is welcome. lt comes none Hangzhou. The Grand Canal of many centuries too soon, given the challenges ofthe present ago is an enduring symbol of the central role of international economic situation and the socio- No country forgotten infrastructure in national development Perhaps economic challenges faced by many countries The G20 201 6 process aims at fostering inclu- that ancient symbol can inspire a new direction in today's rapidly changing world. sivity. This is essential as the world becomes for mankind today. r lnfrastructure is central to economic devel- more multipolar and polycentric. No country opmenL From its very beginning in the United should be forgotten or left out of the process of C0pyediteC Lry Franci3co Little Kingdom, the industrial revolution advanced suslaina ble global developmenL CLrminent: io lirvuny lnadbirevierr' com

(lefD 28-year-old Kadee lngram sits with her son outside a tent where she lives in Seattle, while trying to find work on October 1 3, 201 5

lapanese and U,S. officials hold a joint defense meeting in Tokyo on July 5 in an effort to strengthen their military alliance http://www bjreview com AU6U5T 25,2016 BHJI{G REI/TEW 2] AND

mitiSate its effects. Since that time, separate China will likely use the G20 as an opportunityto summits have allowed G20 leaders to discuss promote its own robust program of economic The author chairs the methods to stabilize the global financial system, reforms as well as its foreign policy objectives. Department of Political to coordinate national economic policies in China's leadership of the G20 occurs within the Science at the Universi\l order to steer the world toward recovery, and to first year of its 13th Five-Year Plan (201 6-20). of SLThomas in Houston, ensure that international financial institutions While the G2O itself will have no influence over United States were provided with the right underpinnings and either the content or implementation of the adequate resources. five-year plan, the summit provides a venue foT As an original member of the G20, China's China to use the G20 as a platform to both pub- involvement stretches back to the summits es- licize the plan's authoritativeness and to garner he annual G20 Summit will take place in tablishment in 1999. ln this respect, China has domestic support for iL Hangzhou in the midst of what is now a claim to a stake in the ownership of the G20 The G20 also provides China with an oppor- a relatively long-term lackluster perfor- process as equal as that ofthe United States or tunity to use the summit as a venue to leverage mance of the overall global economy. While any other GB nation, something which is both support for China's role in international affairs, the G20 garnered widespread praise in con- politically and symbolically importanL Given that particularly as a Ieader in shaping the world's taining the 2008 global financial crisis, it now the G7,/8 wrongly refuses to involve China as economic and financial policies and rules. faces issues related much more to long-term a member, leadership of the G20 is of historic President Xi has regularly demonstrated his economic than to crisis manage- Bovernance impoftance. The G2O provides China with an ment. The G20 faces questions about both its opportunity to shape global economic gover- effectiveness and its ability to address multiple nance. The nation's growing economic clout global economic challenges. With this in mind, and its experience in handling short- and long- the Hangzhou Summit comes at a time when term economic challenges make it an ideal China, now the world's largest economy in candidate to workwell with both developed and terms of purchasing power parity (PPP), will developing economies. likely seek a much more active role in shaping The G20 offers an opportunity for China, global economic governance. as chair of this yea/s summit, to demonstrate Announced at the closing of the 201 4 G20 its key roles in both relations and Brisbane Summit, the 201 6 G20 Hangzhou Blobal Blobal governance. Summit marks the first time that China will chair what has been described as '-the premier forum for international economic cooperation." For Great expectations those unfamiliar with the G20, it was established As Chinese President Xi Jinping has noted, the in the wake of the Asian financial crisis of the G2O Summit shows both the international com- late 1990s primarily as a venue for discussions munity's strong confrdence in China and China's between finance ministers and central bank wish to make a contribution to the international Bovernors. lts goals then, as now, were to bring community. But the G20 Summit comes at a stability to the wodd's financial markets and to time when China is making an uncomfortable promote economic cooperation. Membership transition from an export-led economy to a con- consists of both advanced and emerging econ- sumption-driven economy, while still producing omies from all regions of the world. gross domestic product data that almost all G2O During the global financial crisis of 2008, members would enly. the G20 was seen as the most efective forum Given the developments in China's econo- to lead global efforts to stem the crisis and to my, what can we expect from the G20 Summit?

24 BEIJIIIGREI|ITW AUGUY25 2OI6 http://www.bjreview com willingness to have China engage more actively and the coordination of both new and estab- non-traditiona I security. in economic diplomacy. China's G20 leadership lished economic governance management China will likely seek changes to the tra- can be viewed as a continuation of both the systems. ditional global economic governance model country's economic diplomacy and its peaceful Specifically, China will propose that the world development strateSy. Economic leadership is Why Hangzhou? move away from the exclusivity of monetary a key component of China's soft power cam- management by the Bretton Woods lnstitutions Choosing Hangzhou as the G2O Summit host paign, which seeks to counter the theory that (BWls), which, since the end of World War ll, city is the perfect way to highlight China's dra- China's rise threatens regional peace and securi- have been the primary source of the rules for matic transformation on the international stage ty and to promote instead a benign and positive commercial and financial reiations between since reform and opening up. ln many respects, image of the nation. ln this respect, leadership the United States, Canada, Western Europe, Hangzhou is the ideal city in China to showcase, of the G20 Summit fulfills an element of the Australia, and Japan. While BWls such as the because it both represents the nation's tradi- Chinese dream: soft power as a diplomatic strat- and the lnternational Monetary tional cultural values and exemplifies China's e$/ that not only promotes the renewal of the Fund have set up a qystem of rules, institutions current achievements and future plans. nation, but also enhances China's international and procedures to regulate the international As the capital ofthe prosperous province of appeal and, in turn, its stature in global relations. monetary qystem, China will contend that these Zhejiang Hangzhou expresses the nation's eco- Perhaps the four themes created by accords are not enough for a changing and nomic potential as one of its most promising China for the G20 can provide some context: diverse global economy, one in which China has technology hubs and a pioneer in education. "lnnovative, lnvigorated, lnterconnected and a preeminent role. lt will be within this context Hangzhou has been a leader in China's move lnclusive World Economy." These themes spell that China will push for experimenting with new toward a more consumption-based and seMce- out China's four priorities for the G20 agenda: global economic processes such as the BRICS oriented economy. lt was Zhejian$s flrst city to seeking new groMh models and opportunities forum and the Asian lnfrastructure lnvestment advance into a service economy, with its service from reform and innovation to uncover growth Bank (AllB). sector already accounting for more than half potential; strengthening global economic and China, like the United States, Japan and of the ci!y's GDP groMh since 201 2. lt is also financial governance and the representation Europe before it, has an incentive to pursue an example of the leadership of President Xi, and voice of developing countries to build up global economic rules that are more favorable since this was the province that,he led as he resilience; making trade and investment con- to itself. China also has an interest in retaining rose to the position of General Secretary of the tribute more to growth and building an open those aspects of the international system that Communist Party of China Central Committee global economy; and, facilitating inclusive and have facilitated the prosperity of both itself and and the state presidency. interconnected growth by following through on other nations. Simply stated, China's global the 2030 Agenda for Sustainable Development economic Bovernance preferences will shape by reducing poverty and pursuing shared pros- What China seeks the future character and distribution of global perity. During the G2O, China will focus on several ar- governance responsibilities, particularly be- As both G20 leader and host, China will eas for discussion: seeking new growth drivers; tween the G7,/8-dominated BWls and the more likely play a key role at the summit by mediating increasingthe power of emerging economies in diversified group of emerging 2'l st-century the interests of the developed and developing global economic governance; increasing global governance actors. members. ln particular, China's G20 leadership trade and investment and fostering growth in The G20 Hangzhou Summit affords in Hangzhou will be critical in fostering areas of developing countries. Also, look for a discus- President Xi with a unique opportunity to show cooperation and consensus in trade, investment sion about expanding the role of the G20 in that China is willing and able to advance its co- operation with economic partners and develop new standards for global governance. China's interest in reforming Slobal economic gover- nance, particularly by giving greater voice to the developing world, has been a key part of China's foreign policy since the establishment of the G2O in 'l 999. As China assumes leadership of the G20, that foreign policy objective remains unchanged. Multilateral economic processes like the AllB, the New Development Banh and the Silk Road Economic Belt and 21st-Century Maritime Silk Road (Belt and Road) lnitiative demonstrate China's interest not only in giv- ing greater voice to the developing world and emerging economie5 but also in creating a win- win environment for both the developed and developingworlds. The G20 Hangzhou Summit will enhance China's global standing as it pushes for further reform of the BWls, pursues newly emerging global economic processes, and carves out a greater role for Chinese-created development bodies. r

Copyedited by Chris Surtees Comments to liuyunyunG-bjreview com http://www.bjreview.com AUGUY 25, 2OI6 BTIJIIIG REI,IEW 25 A (IPP(IRTUNITY

ing on a more development-favorable global well with China's economic transition and The author is director ofthe policy environment, China can also put ef- the subsequent huge demand for further lnternational Economics fort into developing the G20's potential in reforms. China's GDP growth has slowed Research at Chatham furthering domestic structural reform within down since 20'l 'l , reflecting to a large House, an independent member economies to lay the market and extent the slowing down of global growth policy institute based in institutional foundations for sustainable pro- as well as difficulties with China's own London ductivity groMh. structural adfustment. As with the global Since the realistic room for global eco- economy, China can no longer revert to the nomic policy coordination varies from one Srowth model before the crisis, because it hina, now the world's second largest issue to another, due to their different game will only exacerbate the overcapacity issue economy, is still growing at a relative- structures in essence, it will be far from ob- and the risks in the financial system. Two ly robust pace-at least compared jective if we have similar expectations for all. features from China's own experience- with the G7 economies. lt has attracted With the growing importance of China one external and the other internal-can considerable international attention as the in the world economy, the country has be drawn on in addressing these issues: host of this year's G2O Summit. China's become an important partner in global externally, the integration with the global hosting of the G2O presidency comes at a economic governance. Before the flnancial economy through moTe openness in trade moment when its leadership has begun to crisis of 2008, the rising trade surplus in and investment within a stable internation- take a more active role on the global stage. China to a large extent reflected a mir- al financial and monetary system; internally, China should seize this opportunity ror image of the widening trade deficit deepening reforms to facilitate resource to lead by tapping the G20's potential to in the United States. China's exchange allocation and encourage entrepreneurship address fundamental Blobal economic chal- rate arran8ement and current account and innovation, while promoting fiscally lenges, with which China's own interests are adiustment suddenly assumed global sig- sustainable public investment in both infra- increasingly embedded. Most challenges nificance and was no longer just its own structure and human capital. facing China's economy are not just China's business. While China was pushed into the Leading a moTe global effort on pro- own, but exist in different forms for both center stage of global economic policy moting economic openness in trade and advanced and emerging economies. Having discussions by events, its authorities were investment will not only be in China's inter- benefited from market-oriented reform, in- reluctant to take too strong a leadership est, but also in the interests of most other tegration with the global economy, and the role too soon, as the country was still a de- countries. Specifically, how to promote resulting technological catch-up, China pro- veloping economy with still many people trade and investment in a more balanced vides a most recent relevant case for other living under the official poverty line. and inclusive way will be a very relevant developing economies. However, China also Given the rotating mechanism for the issue for a large number of developing faces great external and internal challenges G2O presidency, the country hosting the countries. Considering disputes around the ahead in advancing its economic progress. presidency can play a very critical role in Trans-Pacific Partnership and other region- terms of agenda settinB and leading the al free trade agreements in recent years, Policy coordination concerted policy effort. How China handles this is an area where the G20 can explore the presidency will showcase China's top possibilities for more global cooperation or More economic openness and financial leadership's view on the global economy, even coordination. resilience constitute a key driver of further global economic governance and China's Strengthening the resilience of the expansion of global value chain and technol- role in both. lt will also be a good opportu- global financial and monetary system is also ogy diffusion. China can help strengthen the nity for China to develop its own leadership an area where more work should be done by G20's legitimacy by bringing more of the roles in global economic policy dialogues. the G20, in which China will have a special aspect of fair access and distribution of op- ln recent years, there has been also interest due to the internationalization of portunity in trade, investment and finance a gradual evolution in the G20's agenda the renminbi. Some of the key issues here to relevant policy dialogues. Through this from short-term focus to medium- to long- include progressing with reform in the global initiative, China can also show its willingness term focus, since the Los Cabos Summit fi nancial infrastructu re, establishin g an ex- to support the development of developing [in Mexico] in 2012. This shift of focus in tensive, multilayered and adequate global economies outside the G20. Besides work- agenda in the G20 countries corresponds safety net while controlling moral hazard,

26 BEtJtilG Rtt,ttl/ll AU6U5TA, 2016 http://www bjreview.com E,=pJB+ r-+t - +iy YOUTH 20 rIriiNA ,

The Youth 20 China 20'16 meeting one of the outreach programs of this year's G20 Summit, opens in Shanghai onJuly 27 and promotin8 a multicurrency international tating or selection mechanism for the chair growth model while productivity growth monetary system. of some working groups, or how to ensure remains weaker than the pre-crisis period, Pushing forward a structural reform the coherence of the work in different work- China can draw from its own development agenda pivoting around promoting poten- ing groups when overlaps are inevitable in experiences and lead more global effort on tial growth and productivity will also be an most cases. More innovative mechanisms promoting economic openness in trade and important area where China's core interests or improvement of existing mechanisms investment in a more inclusive and system- intersect with those of other G20 countries can also be considered to promote policy atic way to ensure more opportunities for all, as well as other non-G20 countries. lf the effort across the board. The peer pressure including non-G2O countries. China can also G20 can lead on structural reform and set mechanism, enabled through the Mutual strengthen the G20 structural reform effort good examples for non-G2O countries, it will Assessment Process approach to policy by focusing on the market and institutional also provide strong testimony for the G20's collaboration, needs more refinement and foundations for higher and more sustain- efficacy. better assessment, for which international able productivity groMh. By contributing to organizations' technical support is necessary strengthening the G2O's role in steering the global policy Mechanism improvement but may not be enough. Beyond the internal economic agenda, China can pressure mechanism, which is largely opaque also stren8then its role in the global policy To ensure the G2O's work in various areas to the public, external pressure mechanisms arena. r to deliver solid steps ahead, China could can also be considered, like encouraging also initiate an agenda on streamlining G2O more involvement of think tanks in assess- processes and enhancing the group's ef- ments of the relevance, implementation and Ihis article is evcerp'red lrcm an original versior fectiveness and legitimacy. There are lots impact of policy commitments. pi:bllshed it G2a and Global Governance of issues that can be challenged about the Amid a g,eneral recognition that the Copyedited by Chris Surte€s status quo; for example, why there is no ro- global economy cannot revert to a pre-crisis Comments to liuyr:nyuirG-bjreview"conr http//www.bjreview.com AUCUY25 2016BHJING REI,ITW 27 he United Kingdom is experiencing Furthermore, the UKs Office for National its worst identity crisis since the end Statistics said on August '16 that import prices of World War ll, according to panelists for metals oil, food and other products grew by discussing the repercussions of the British 6.5 percent year on year in July, the fastest rate vote to leave the EU. What role will China in five years, prompting fears of inflation. play in the UK's efforts to redeflne itself fol- However, Jorg Wuttke, President of the EU lowing its historic referendum? Chamber of Commerce in China, was doubtFul fu the 2016 G20 Hangzhou Summit looms of claims that China could offer the UK assis- on the horizon, experts convened in Beijing tance in the short term. "l don't see that actions on August 1 1 to discuss the future ofthe UK, on China will move fast forward, in particular Europe and those regions' relationships with because hhe UK authoritiesl have to completely China. At the meeting Jiang Shixue, Deputy change their storyline. Britain has been selling Director of the lnstitute of European Studies at London and the UK as the entry-point into the the Chinese Academy of Social Sciences, said EU-thafs not the case anymore." that China hopes that the bilateral relationship it has with the UK will continue to move fonivard despite Brexit Great expectations creating the one-to-one relationships on Jiang was steadfast in his belief that China Brexit is believed to be a hot topic during the growth wants to go global and wants to go anywhere G20 Summit, especially considering the frag- which economic depends. So it's there is money to be made, highlighting the ile state of the world economy and its tepid the right forum, the right time-you know, just have a fact that the UK is still a popular destination recovery prospects. Clare Pearson, Chair of we've had Brexit in the UK, we government is in China, and for Chinese investment. Nonetheless, Brexit the British Chamber of Commerce in China, that confident I just good people to has somewhat tarnished the UK's image, was nonetheless optimistic about the G20 think it is a time for Teassess relationships with since its economic ties to mainland Europe meetinS, claiming that it would be good for their bilateral world," she said. were one of its main drawing points. the world economy. countries around the The G20, which collectively accounts for 85 "The UK will not be as sexy as before," ln an exclusive interview with Beijing percent of the world's domestic product said Jiang, "But on the whole, the UK still Review, Pearson declared that the upcoming Sross and B0 percent of global trade, was designed is one of the best places for Chinese in- event would be the right forum, at the right to be a platform to address problems that tran- vestment to go to, since [it has] very nice time, in the right place, because ifs bringing scend any one nation's responsibilities. Pearson ma nufactu ri n g capacity, infrastructu re, legal together countries with some diverse issues said that rather than just looking at issues from system and one ofthe best financial systems and real common problems. the selfish point of view of a single country, in the world-China is ready to offer a help- As the world muddles through the dol- 'What the conference does is that it wakes you ing hand if its economy is in trouble." drums of economic recovery eight years on up to the bigger picture. This is what I think The economy does face uncertainty as after the 2008 global financial crisis, nations we need our politicians to do-show less self- the Bank of England's decision earlier this are faced with obstacles composed of ter- interest and more mutual consideration for the month to cut interest rates to depreciate the rorism, climate change and developmental spillover effect of their domestic policy on the British pound could backfire on the UK, since issues in contentious areas such as the global stage." it requires increased investment from abroad Middle East and Africa. in order to succeed. This is a hard sell since Pearson said that although there are the country is expected to undergo ma.jor some things that divide those 20 countries, Free trade agreement? political and economic changes for the fore- there is more that unites them. "l think the Following the Brexit vote, Chancellor of the seeable future. G2O will stimulate the global economy by Exchequer Phillip Hammond has begun

28 BEUII{G REI/ITW AUGUST 25, 2016 http//www.bjreview com As China looks to shift its main economic engine from traditional manufacturing indus tries to investment targeting consumption and innovation, an FTA with the UK could also be a boon for the nation's creative industries. "ln the future, we'll be branding not just for the European and the U.S. consumer, but for the Chinese consumer," said Pearson, who claimed that the Chinese consumer market will probably become the biggest, eventually. Nonetheless, Wuttke noted that achiev- ing such an agreement would not be a walk in the park. "How interested will China be in deepening links with the UK in a period of time when anything is in total uncertainty?' Adding to conceTns of instability, the UK side also has to reconsider what leverage they have before engaginS other countries in such talks. "What is their bargaining power against the second largest economy in the world in real GDP terms? What do you have to Bive except good will?'Wuttke was reserved on the UK's prospects of an FTA, saying that, "to get something sensible out of China these days is very, very difficult. Britain has to find its feet with the European continent first and foremost."

Becoming a bridesmaid Regardless of the future relationship between the two countriet opportunities and losses for businesses in China and the UK are likely to continue. But China's business environment is filled with impediments for foreign com- panies looking to take a slice of the lucrative market composed of '1.3 billion people. Earlier in August, one of the world's most valuable discussions for a free trade agreement (FTA) markets and financial sectors. startups-ride-hailing company Uber-folded with China. The chancellor told the BBC on Pearson told Beijing Review that what under market pressure after bleeding $Z Uittion )uly 24 that it was the right time to explore she'd like to see from a potential FTA is in China and merged with home-grown rival "new opportunities" with China and the rest greater ease of access to the Chinese market Didi Chuxing. What can foreign companies do to of the world. China is one of the UK's most for services like insurance, banking law, pro- get a leg up in one of the world's most challeng- important trading partners, as it is its sixth fessional services and in return, greater ease ing markets? largest export partner, and its second largest of access to the UK for China-manufactured "The one bit of advice I give to British in terms of imports, after Germany. goods and investment in infrastructure. businesses is to 'learn to be the bridesmaid'," Hammond said UK should that the deal But aside from these areas, what else said Pearson, who asserted that you have with Brexit in a way that minimizes the eco- can both parties offer each other in terms of to lose somewhat to win in China. Pearson nomic impact on the economy in the short socioeconomic exchanges? coined this concept as "parallel opportunity "l term and maximizes the benefit in the long think the UK has been global for cen- for profif' after realizing that the way to win "We term. have hugely increased our trade turies, so I think they can help Chinese banks in China is to lose-by grafting yourself "But with China, investment both by British com- to think globally," she said. in return, onto people in China in a mutually beneficial panies into China and by Chinese entities Chinese banking can Bive the UK system manner. "lf you want to access the Chinese into the UK," said the chancellor during the an awareness of the Chinese market, which markeL get with the program! Britain has to meeting of G2O finance ministers which took they sorely lack. How people like to do in- realize that the center of economic gravity is place in July in Chengdu, China. "Once we are vestment in China is completely different to now closer to Shanghai than Sheffield." r out ofthe EU, then I have no doubt on both how they like to do it in the UK." sides we will want to cement that relation- For example, based on a report in May ship into a flrmer structure in a bilateral way by the Rosen Consulting Group and the Asia thafs appropriate." Society, a non-profit educational organiza- A free trade deal between China and the tion, between 2010-15, Chinese buyers For more G20 articles, piease scan UK could become a multi-billion pound af- invested upward of $:OO billion in the U.S. Copyedited by Chris Suriees fair involving a large number of commercial real estate market. http://www.bjreview com AUGUST 25, 20]6 BHJII{G REVIEW 29 W()RI.D

The Japanese guards and supervisors gave us only two meals a day, and the food was too poorto eat We were always hungry," Yan said. 'A total of 189 Chinese, including me, were brought to the coal mine in Lizuka. When we were free to return home, there were only 166 left; 23 died of inhumane treatment within a year," Yan said. According to statistics released byJapan's Ministry of Foreign Affairs after WWll, at least 39,000 Chinese people were forcibly brought Than to 1 Never and Japan between 1943 945 to assume exceedingly hard labor in Japan's mines and su jectin inese to factories. Today, historians identiflT such ac- tion by Japan's militarist government during the war as mass-kidnapping and human traf- ficking. Among the forced Chinese laborers, 7,000 died during their hellish internment I I lorld War ll OVWII) finally ended when for their suffering in Japanese labor camps. "On due to the rigors of labor, squalid conditions W Jurun announced its unconditional our part, we've come to a conclusion that we and lack of basic essentials like food and 'l y45. U U ,rrr"noer on Augusr t5, But will extend our apologies and offer the money water. Some who tried to escape from labor the battle waged by Chinese victims for com- as a proof of these apologies," a Mitsubishi camps were shot to death. pensation and apologies from the Japanese Materials spokesman said. The Mitsubishi Mining Corp., a former part Government and Japanese companies involved The company also promised to continue to of Mitsubishi Materials received a total of 3,765 in the war has never ceased. seek a comprehensive and permanent solution Chinese workers during the war. They worked as On August 15 this year, the 71st anniversa- with all of the former laborers and their families slaves, suffering from hunger, cold and violence. ry of the end of VlMll, 87-year-old Yan Yucheng and pledged to build a memorial to honor the By the end of the war, 722 Chinese workers had a Chinese survivor of forced labor, released the victims. Furthermore, the company said it would died in Mitsubishi's mines. entire text of the settlement between himself continue trying to track down forced wartime "l don't care about the amount of com- and Japan's Mitsubishi Materials Corp. regarding laborers who remain unaccounted for in official pensation," Yan said at the compensation compensation and an apology for Yan's suf- records. agreement signing ceremony held in Beijing on fering in a forced labor camp in Japan during The settlemenl ne8otiated between repre- June 1, "1 do care ifJapanese companies recog- the war, the Beijing-based China Youth Daily sentatives of the company and the victims was nize feel guilty, .l the facts of their crimes if they reported on August.l 5. formally signed on June by senior Mitsubishi and if they are willing to apologize for what they Yan was one of the Chinese victims who Materials executive Hikaru Kimura and three did in the past" reached settlement deals with Mitsubishi survivors, including Yan, on behalf of more than 'We have been fighting for the apology for 'l Materials on June this year. The Japanese 3,000 of the company's wartime forced labor over 20 year{' Yan said. company has now completed actlons to com- from China. pensate and apologize to Yan. Efforts forjustice Tong Zeng the activist who initiated de- Untold sufferings Not all Chinese victims, though, have agreed mands for compensation and apologies from As Japan expanded its military campaign in to Mitsubishi Materiald settlement Sixty-three Japan on behalf of Chinese slave labor victims, WWll, the island country was badly short of people have filed a lawsuit in Beijing. was authorized by Yan to release the text of his manpower to run its war machine. To meet Liu Shili, 91, who was forced to work for arrangement on August 15. the large demand for labor in heavy industry, a year in a coal mine operated by Mitsubishi Tongtold Chrha Youth DailylhatYan hoped particularly in coal mining and construction, the Mining told Xinhua News Agenry,'We refuse to the world could witness the completion of the Japanese Government and some of the nation's accept the company's reconciliation deal." agreement in which a well-known en- Japanese corporations conspired to force captive locals 'We will hold the Japanese accountable for terprise has finally begun to apologize and show to work as laborers. At that time, a large num- their war crimes in accordance with law and regret for the crimes it committed together ber of prisoners from the United States Britain fight for our rights," Liu said. with Japan's militarist government more than and China were forced to work in labor camps "The settlement deal is unfair to my late seven decades ago. for Japanese industrial and mining enterprises. father and thousands of other victims like him," "The deal offers a valuable example for Mitsubishi Materials was one of them. said Pan Ying whose father Pan Jingxiu tried Japan and other countries to make settlements Yan was only 15 years old when he was unsuccessfully to sue the company for two forwar crimes" Tong said. abducted by Japanese soldiers and trans- decades.'We demand real compensation and ln the document, Mitsubishi Materials ported to Japan in 1944 from his hometown will carry on our battle with the support of our recognizes the fact it forced nearly 4,000 in Qinhuangdao City, North China's Hebei country and our legal aid team," Pan said. Chinese to work in labor camps during WWll Province. Xu Jingbo, President of AS@IA, a Tokyo- and subjected them to inhumane treatmenL lt Yan told China News Agency that he was based news agency, told Shanghai-based is the firstJapanese company to offrcially apolo- taken to the city of Lizuka in Japan's Fukuoka ThePaper.cn that "l can feel that the words of gize to Chinese victims since the end of WNll. Prefecture to toil in a Mitsubishi coal mine until apology offered by Mitsubishi are not sincere The company has agreed to compensate December, 1945, when he was set free and and thorough enough." each of the Chinese victims, the deceased as repatriated to China. "But the apology itself is a significant vic- well as the survivors, 100,000 yuan $15,OOO) ln Japan,'We worked over 10 hours a day. tory for Chinese victims," Xu said, 'After all, a

30 BHJtilG RTI,TEW AUCUy 25, 2016 http//www,bjreview com WORl.D

Japanese company is eventually able to agree Chinese citizens. then agreed to follow the ruling and com- to apologize to Chinese victims for the crimes Tong said that in his experience over the pensate the plaintiff. that it committed 7'l years ago." past 20 yearg he has seen plenty of arrogance Behind the compensation case, China's Over the past 20 years, Tong has worked to and relection from Japanese government of- growing comprehensive national strength and help Chinese victims seek redress from Japan ficials and enterprises in numerous lawsuits and international status are important factors con- through legal means. negotiations which sought compensation for tributing to the success of the compensation "The process is very hard because it the Chinese victims ofJapan's war crimes. claims said Tong. involves China's domestic law, Japanese law With much effort, and assistance from To some extent, Mitsui's case can be and international law," Tong said,'The settle- lararyers in both China and Japan and many dedi- considered a commercial dispute. But, the ment gives us a way to start reconciliation cated professionals, Chinese victims and their settlement of Mitsubishi Materials should be between Chinese victims and otherJapanese families have made some progress in recent a milestone for Chinese victims demanding companies." years in claiming compensation. apologies and claimin8 compensation from Actually, the Japanese Government doesn't ln 2O14,.Japan's Mitsui Co. agreed to com- Japanese companies, Tong continued. support Mitsubishi Materials' decision to pensate Chinese ship owner Chen Shuitong for 'Today, there remain about 20 Japanese apologize, Tong claimed. But the governmenfs his losses during WWll. Chen leased his cargo companies that enslaved Chinese workers but attitude puts the company in a dilemma dur- ships to Mitsui in 1930s. During the war, the have not apologized. Therefore, we need to ing its process of seeking business expansion ships were commandeered byJapanese impe- comment positively on Mitsubishi's settlement, in China. However, Mitsubishi Materials' board rial forces prior to eventually being destroyed in encouraging others to correctly face history," of directors decided to apologize, taking into the conflict Tong said. account the company's humanitarian and hu- Chen's descendants had pursued com- "Next, we will strive to seek the Japanese man rights responsibilities as well as its business pensation for near 70 years since the end of Governmenfs official apolory to Chinese forced future. WWll. ln 1988, the Shanghai Maritime Court laborers," Tong said, "Only a formal apology According to Tong as many as 35 Japanese accepted a lawsuit filed by Chen's family. made by the Japanese Government can initiate companies are believed to have been involved ln 2OO7, the court sentenced Mitsui to pay a new chapter of China-Japan relations." r in forced labor from 1937 to 1945, during compensation of 2.9 billion yen,($28.9t mlt- .lapan's invasion of China. Today, the Japanese lion). To enforce the ruling the court froze Government has still yet to apologize for its Mitsui's ship Baostee/ Emotion in Zhoushan Copyedited by Chris Surtees war crimes including the mass-abduction of Harbor, Zhejiang Province, in 2014. Mitsui Comments to baishi(Abjreview com

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for genetic diagnosis. Currently, He serves as director general of the China Alliance of Personalized and Precision Medicine and lndustry, which was set up in Shanghai on December'l.1,2015, to promote the application of precision medicine. The alliance is committed to promoting sharing of clinical experiences and other re- sources in personalized and precision medicine, popularizing relevant technologies and provid- ing consulting seruices. Genetic differences may lead to differ- ent reactions to health risks and treatments China promotes precision medicine to provide among individuals, said He. Citing an example of a 9-year-old boy with attention deficit and more rapid and accurate clinical diagnosis and hyperactivity disorder, who died after taking a common drug to treat the disease, he said that the same drug can have obvious healing effects on some patients, less obvious effects on other patients and adverse effects on the rest "Many factors can affect the effective- ness of a drug on an individual, while genetic polymorphism is the primary factor, and other factors include height, weigh! gender, age, concomitant diseases, organ functions and en- vironmental factors" said He. Precision medicine is an emerging ap- proach for disease prevention and treatment that takes into account people's individual variations in genes, environment, and lifestyle, according to the defjnition of the U.S. National lnstitute of Health. That approach is made possible by cutting- edge technologies such as sequencing ofthe human genome, biomedical analysis and new tools for analyzing large datasets. On January 20, 2015, U.S. President Barack Obama unveiled a Precision Medicine lnitiative during his State of the Union address. The promise of precision medicine, accord- ing to him, is to deliver "the right treatments at the right time every time, to the right person." He asked congress to invest $21 5 million into Scientists at a lab ofthe Hefei Institutes of Physical Science under the Chinese Academy of Sciences do experiments the project on August 10. The lab is engaged in making progress in precision medicine to combat malignant tumors Meanwhile, China has also begun to attach '1, imporhance to precision medicine. On March 1 village in Yicheng County, Shaanxi Professor He identified the gene caus- the Ministry of Science and Technology con- Province, is home to a strange medical ing the disorder of the family, which was later vened the first expert meeting on precision phenomenon. A family, dating back at named He-Zhao deficiency after him and two medicine strategy. China decided to invest 60 least generations, six has no teeth. One of the locals of Shaanxi-doctor Zhao Shuangmin billion yuan ($9 billion) in precision medicine family elders told local media his that late moth- and teacher Zhao Wanli-who first reported by 203O one third of which will be paid by the er and his great-grand father were toothless, and studied the phenomenon in the family. Central Government, and the rest come from as are his and grandchildren. children Afflicted local governments and enterprises. family members usually had primary teeth, but National strategy A number of precision medicine alliances their permanent teeth failed to grow after their have sprouted up across the country. The He and his team have mapped and cloned baby teeth were lost. As a result, they have to sev- Clinical Research and Application Alliance of eral other important genes progress eat food paste and liquids for the rest of their and made Precision Medicine in China was founded on genes lives. in hunting candidate of schizophrenia December 24,2015. The alliance, initiated by The mystery of the toothless familywas un- and other mental disorders. the China-Japan Friendship Hospital (CJFH), raveled in the 200Os by He Lin, Director of the Now, He is applying gene technology to comprises more than 20 renowned hospitals Bio-X Center of Life Sciences at Shanghai Jiao clinical diagnosis and treatment. On )uly 27, in various parts of the country. lt aims to pro- Tong University and President of the lnstitutes he signed a letter of intent to cooperate with mote precision medicine in clinical research of Biomedical Sciences at Fudan University. Xiamen City No.5 Hospital to set up a laboratory and diagnosis.

]4 BHJIIIG REI,IEW AUGUsT D, 2016 http://www.bireview.com 1{ATI()N

Some institutions and teams in the alliance started their clinical research and applications of pharmacogenomics around the beginning of the 21st century, said Wang Chen, an academi- cian and President of CJFH. Since 2004, Wang has been working on genetic testing to determine the clinical signifi- cance of genomics in some commonly used drugs and exploring ways to treat diseases by precision medicine. Wang said that by December 2015, 12-7 quality hospitals nationwide had established precision medicine centers or individualized drug treatment centers. Thus, a provider network with a moderate scale for clinical ap- plication of precision medicine has been set up. On June 2-l, the presidents of 'l 5 cancer hospitals across the country formed an oncol- ory precision medicine alliance.

Diagnostic advantages Southwest Hospital, which is affiliated with the Third Military Medical University in Chongqing Municipality, plans to conduct gene testing on Tong said. Now with gene testing a patient can velop a medicine, she said. 2,0O0 types of hereditary disease next year. learn about the optimal dose within 24 hours of Currently, the cost of gene screening is 'Through gene sequencing technology, we having a blood test he said. mostly not covered by medical insurance, so can screen for genetic disease genet prevent when doctors advise patients to undergo a Senetic diseases and provide personalized dis- gene test, patients often refuse, according to ease treatment and effective drugs for patients, Bottlenecks . reducing the toxic and other side effects of Despite progress in precision medicine, Tong Lack of large gene databases and weak drugs and the economic burden of patients," thinks that currently, for ordinary Chinese ability in analyzing big data are problems also said Yuan Zhihui, Director of the hospital's cen- citizent precision medicine is no more than a facing the development of precision medicine ter of hereditary diseases. concept He believes the dawn of the precision in China, said Zeng Changqing a professor with Yuan said the effectiveness of drugs for medicine era is still some way off. the Beijing lnstitute of Genomics under the some commonplace diseases is only around Currently, precision medicine is primarily Chinese Academy of Sciences. 50 percent Precision medicine is expected to used for disease diagnosis and helps people Li Jinming Vice Director of Clinical Test chan8e this situation. learn about future health risks but after diagno- Center under the National Health and Family At a forum on world future science and sis, precision intervention is much needed, said Planning Commission, told Xinhua that current- technology on June 25, Cheng Jing a medi- JiJianxin, Executive Vice President of Diao Group, ly, more than 200 independent medical testing cal professor at Tsinghua University, told the a pharmaceutical group based in Chengdu, centers can do gene testin& yet the results of audience that a patient suffering from fevel di- capital of Sichuan Province. quite a number of laboratories are not precise, arrhea and respiratory difficulty was diagnosed Tong said that some basic medical science and that those of some top hospitals are not with severe pneumonia in a hospital and paid findings are yet to be converted into clinical satisfactory either. close to 1,500 yuan ($225.5) in medication therapies. Moreover, most people in China do not expenses daily, however the patienfs condition Zhu Hanqing a strategic planning manager have complete personal medical records, got worse and worse, Then the hospital used with Shenzhen-based BGl, a leading genomics there are no national standards on medical a gene chip to identi! the source of infection research center, said that today, developing information, and hospitals usually do not share more precisely, treated the patient with e$hro- targeted drugs is the biggest challenge in oncol- information, said Wang Shan, Deputy Director of mycin, and cured him at a daily expense of ogy. Although some targ,eted anticarcinogens lust the Chinese Medical Doctor fusociation. 1o yuan $1 .5). have been developed, to date no medicine has Zhu believes the establishment of data- Precision medicine has been used in several been found for many targeted spots, she said. bases will also raise concerns over privary and departments of Beijing Chao-Yang Hospital and Another challenge for precision medicine is ethical issues. Standards should be made to has made it easier for doctors to find the appro- the cost for gene sequencing and other proce- protect privacy and avoid discrimination against priate dose of warfarin for patients who suffer dures such as setting up gene data banks and patients she said. from cardiac infarction, said Tong Zhaohui, the sharing data, Zhu said. Despite these challenges Zhu is confident hospital's vice president She said that the development of medi- that precision medicine will play a more and Wafarin is an anticoagulant used to prevent cine is a very long and expensive process, more important role in cancer treatment 'We clots in blood vessels and their migration in the which means that treatment is expensive for have reason to be full of hope for the future," body. Too high a dose of the medicine might patients. Targeted cancer therapies currently she said. r cause a patient to bleed, while too low a dose is cost more than 100,000 yuan ($15,050) per insuffrcient to protect against blood clots. A pa- year, and most can only prolong a patienfs tient usually needs to be monitored for one to life by a few months. The cost-effectiveness Copyedited by Francisco Little two months for doctors to find the right dose, is an issue when justifying whether to de- Comments io vr'anghairongQbirevle\ry com http://www bireview.com AUGUST 25, 2016 BEIJII{G REVIEW 35 BUSINESS %.k

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The AG600, China's flrst homemade amphibious aircraft, rolls off the production line in Zhuhai, south China's Guangdong Province, on.July 23

headlines around the world, as the country attempts to detach itself from a dependence :l on foreign aviation firms. It has always been China's airplane in- *,i, dustq/s dream to be able to produce big planes independently. ln November 20'l 5, China's first homemade large passenger air- craft, the C919, was unveiled in Shanghai. lt was developed by the Commercial Aircraft Corp. of China. ln July this year, the Chinese Air Force welcomed the first homegrown heavy transport aircraft, the Y-20, to enter military service. The Y-20 has a maximum takeoff weight of around 200 tons, and it can carry cargo, large-scale vehicles and personnel over long distances. Developing and making the AG60O amphibian aircraft is a new milestone for the industry. T h mphibious aircraft, ufacturinS. I a ane, rolled off the More than 60 years ago, the American I p ate July in Zhuhai, Hughes Aircraft Co., the leading airplane A sea monster South China's Guangdong Province. The manufacturer in the world at the time, The AG60O is around the same size as -137. event, which took place in front of an audi- designed a similarly colossal amphibious a Boeing The aircraft, which is an ence from industry, Bovernment and military plane-the Hughes H-4 Hercules-which amalgamation of a plane and a boat, is 37 contractors, underpinned a hard-to-achieve ended up being shelved after testing. China's meters in length and has a wingspan of result for China, a latecomer in aircraft man- plane, designated the AG600, has made 3B.B meters. The plane's chief designer

16 Btu[{G Rtt,tEl/ll AUGU$25. 2016 http://www,bjreview com BUSINESS

Huang Lingcai was quoted by Xinhua News Agency as saying: "The AG600 is like a ship that can fly, with advanced gas-water dynamic engineering and underwater Wingspan: 38.8 m Functions of AG600: corrosion-resistance technology. I Material transportation The Aviation lndustry Corp. of China I Fighting forest fires GVIC), the AG600 maker, told Shanghai- i Height: based daily China Business Neuzs that the i12.1 m I Marine rescue plane can take offfrom and land on a stretch I Marine environmental monitoring of water 1 ,500 meters long 200 meters wide and marine resources detection and 2.5 deep. The meters AG60O's maximum Four WJ6 turboprop engines, takeoff weight, flight range, cruising speed, each with 3,216 kw of power and endurance are 53.5 tons, 4,500 km, 500 km per hour, and 'l 2 hours, respectively. Airborne frnished products That means it can fly non-stop from China's made in northern-most city of Mohe in Heilongjiang China Province to Sanya of Hainan Province in the i: south. i Length:36.9 m :

Versatility Maximum takeoff weight: Flight range: Structural and system Currently, amphibious planes are used 53.5 tons 4,500 km components supplied by mainly for sea sightseeing both in China Chinese companies Flight crew: and overseas, so they are usually small. The J AG600 is developed to construct a large July 23,2016: and special-purpose civilian airplane, which First AG600 is regarded as a necessary part of China's aircraft rolled off national facilities for emergency handling. 2 pilots l mechanic production line. The new plane is mainly designed to flght forest frres and perform marine rescue End of 2016: missions. As such, the AG600 can collect 12 : September 5,2009: i Mid-March 2014: Maiden flight is tons of water in 20 seconds, and transport : Research and development i Manufacturing expected before up to 370 tons of water on a single tank of i of AG600 kicked off. i process started. the end of 2016. fuel. With extTa maneuverability and a rela- tively large scope for searches, it is capable of rescuing up to 50 people located far off- shore, AVIC told Xinhua. China is a large ocean-bordering coun- (Conpiled byBe'rjing Review, designed by Pomelo Tobey) try, with its total coastline stretching for 32,000 km, including over 18,000 km of continental coastline. More than 6,500 "making islands dot its sea areas. The new amphib- principle of an amphibian aircraft, that the AG600 will undergo systematic and ian aircraft fills a void in marine service, making different types of the aircraft, and very strict testing this year. lt is expected that rescue and transportation. ln addition, developing a series of the product." lt also its maiden flight will take place before the minor modifications can be made to allow required that the technology of the plane year is over, though with a stress on safety. it to do marine environmental monitoring, be state of the art, on a par with advanced Since the AG600 is an amphibian aircraft, resource detection and marine law en- aircraft manufacturing standards. the testing procedure is much more com- forcement, according to AVIC. According to the MllT information plicated than that for other ordinary planes. The AG60O will excel in its sea service bulletin, the AG600 is made up of more For example, its water surface testing will with "hard work and by standing fast to its than 50,000 structural and system com- not only be conducted at lakes and Chinese ponents, responsibilities," Huang told Xinhua. consisting of 1.2 million standard territorial waters offshore, it is also necessary parts. Thanks to the national capability for to test the aircraft on the high seas in fierce technical development, 98 percent of the weather conditions. Nationalproject components and parts and 9O percent ofthe AVIC told Xinhua that the AG600 According to an information bulletin issued plane's equipment are provided by domestic will mainly target the domestic market. by the aviation management division under suppliers. Nonetheless, '17 orders of intent from over- the Ministry of lndustry and lnformation The engine used on the AG600 is also seas customers have already been received. Technology (MllL the development and a focus of widespread attention. The AVIC lsland countries, such as lndonesia and some creation of the AG6O0 was an important spokesman lold China Eusrness News that Caribbean states, have also shown interest in national pro.iect urgently needed for the four turboprop engines which power the purchasing. r China's emergency management system. AG600 are made in China and have already Since the project was approved by the been used on other planes. State Council in 2009, AVIC has been con- Zhang Shuwei, AVIC's AG600 deputy Copyedited by Bryan Michael Galvan ducting R&D and production based on the proiect manager, told China Business Neuzs Comments to yushujun@bjreview,com http//www.bjreview com AUGUST 25, 2OI6 BEIJIIIG REI,IEW37 BUSINESS MARKET WAICH

OPINION Shenzhen-HK Stock Connect: Another Step Forward

ince July, there's been much discussion over the imminent Shenzhen-Hong Kong Stock Connect program, focus- ing to a large extent on which companies will benefit the most from the scheme. However, as another major step in China's efforts to open up its capital markets after the Shanghai-HK Stock Connect scheme, the Shenzhen-HK Stock Connect program, which was approved on August 16, has far more significance beyond .just benefiting stocks. The program is a vital step in connecting Chinese mainland stock markets to Hong Kong's capital markets and an important measure of China's financial reforms. lt will not only open a new window connecting China's securities markets with the world, but also facilitate the internationalization of the yuan and underpin Hong Kongs status as an offshore yuan hub. To start with, it will open up a new chan- nel for China's capital markets to connect to the world. Following the Shanghai-HK The exterior ofthe Shenzhen Stock Exchange Stock Connect program, the launch of the Shenzhen-HK Stock Connect scheme will investment currency should be fortified, variety, and tradlng is not active enough. The further increase the number of overseas in- besides being a settlement and reserve cuT- launch of the Shenzhen-HK Stock Connect vestors in China's A-share market, improving rency. The launch ofthe Shenzhen-HK Stock will increase investment channels for off- the investment structure of the market. Connect will further cement the yuan's shore yuan products and help cement Hong While connecting two markets, the scheme status in global investment and promote its Kong s status as an offshore yuan hub. can promote the integration of their respec- convertibility under the capital account, a Last but not least, the scheme will lay a tive philosophy, investment valuation systems vital link in the internationalization process. solid foundation for China's A shares to be and transaction modes. lt will also expand the ln the meantime, the stock connect scheme included in the MSCI index. Latest regula- two-way opening up of China's capital mar- will make it easier for overseas institutions tions released by China's central bank and kets by offering overseas investors with more to issue yuan-denominated bonds in China securities regulator have demonstrated to investment channels and targets. Further, and simplif,T foreign exchange administration global investors China's firm determination in conlunction with the Shanghai-HK Stock under the capital account. in steadily opening up its capital markets. ConnecL the scheme will realize better con- Third, the scheme will fortify Hong However, the A shares failed in June to gain nection of the mainland and Hong Kong capital Kong's status as an offshore yuan center. inclusion in the MSCI index for the third time. markets to offer global investors a one-stop Compared with the Shanghai-HK Stock At this critical moment, the launch of the solution to investing in China. Connect, the Shenzhen-HK Stock Connect Shenzhen-HK Stock Connect will further Second, ifs a vital step in pressing ahead will have a larger impact in that regard, fortiflT investor confldence in China's capital with the internationalization of the yuan, which as the two markets in the latter program markets and once again convey to the world is a systematic project that requires a certain interact much more closely-with person- China's firm stand in opening up its markets. depth and scale ofthe currency's use. nel exchanges, economic and trade links A critical premise for China's A shares to For years, China's central authorities and policy connectivity-than those in the be included in the MSCI index is that global have been actively opening up the nation's former program. lnvestors in Shenzhen and capital can invest in stocks in both Shanghai capital markets in a bid to promote two-way Hong Kong also understand each otheis and Shenzhen exchanges. Therefore, the flow of the currency, such as by introducing market more deeply, and therefore the pro- launch of the Shenzhen-HK Stock Connect schemes such as QFll (qualified foreign in- gram is quite appealing to them. is bound to attract more international inves- (q stitutional investor), QDI I ua I ifl ed domestic Furthermore, the Shenzhen program will tors and capital, laying a solid foundation for institutional investor), RQFII (Renminbi quali- be more effective in connecting the yuan the A shares'inclusion in the MSCI index. r fied foreign institutional investor) and RQDII with overseas markets and pushing fonrrard (Renminbi qualified domestic institutional an adequate flow of overseas yuan capital This is an edited excerpt of an article published in investor). back and forth between Shenzhen and Hong E co n o m i c I n form ation D a i Iy ln order to speed up its internationaliza- Kong. Although Hong Kong has the larg- Copyedited by Chris Surtees Comments to yushujunQbjreview com tion process, the yuan's status as a global est yuan capital pool, its yuan products lack

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The,"Chinese" Classics" series published by Foreign Languages Press is a coltection of ancient Chinese sics and great works of modern Chinese authors. The first set comprises nine ancient classic wolks ineluding Selected ELegies of the State of Chu, SeLections from Records of the Historian, Tao Yuonming Selected Poems, Du Fu SeLected Poems, and SeLected Tang Dynasty Stories, and five works by Lu Xun (1881-1936), a leading figure of modern Chinese Literature, which include Dawn Blossoms P_tucked at Dusk, WiLd Grass, Lu Xun Selected Poems andThe True Story of Ah Q. The translators are all internatjonaLly-recognized Leaders in the fie[d, incLuding Yang Xianyi (1915-2OOg), Gl-adys Yang (1919- i999), Rewi Altey (1,897-1,987), W.J.F. Jenner (1,940- ), and Fang Chong (1902-1,991,), among others.

th.,inese Classics" offers a channelfor Western readers to learn about Chjnese Literature, and provides va[uab[e references for transLators and those studying EngLish in China.

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Awakens in China British choreographer brings his hit ballet to Beijing for the f irst time

atthew Bourne, a renowned British choreographer and director, will bring his ballet Sleeping Beauty a Gothic Romance to the Tianqiao Performing Arts Center in Beiling in early September. Having dis- played his work only once before in China--- i'n Shanghai in 2014 during his international Sr,tran Lake tour-Bourne will debut his work in the capital. 'We are very happy to be invited to perform in China. lfs excitingfor us to come somewhere new. lfs exciting that China has now opened up for different kinds of theaters to come and be seen here," Boume told Belrng Reiew. Sleeping Beauty, originally a fairy tale by French writer Charles Perrault in the late 'l7th century, centers on Aurom, a princess cursed into a lengthy slumber by an evil fairy. One hundred years later; she is awoken by the kiss of a prince who upon first sight falls in love with the princess. The story was first produced as a ballet adaptation by Russian composer Tchaikovs(y (1840-93) and French choreographer Marius Petipa (1 81B-1910) in 1890. Bourne's ver- sion, premiered in 2012, marks the final piece in his trilogy of Tchaikovsky ballets, following Nutcrackel and Swan Lake in 1992 and 1 995, respectively. When consulted on which work he consid- ers to be his greatest achievement to date, Bourne picks S/eeprhg Beauty. "lfs a most recent piece. I do think it works as a piece of dance, a story, and an alternative way of telling the story through this incredible music," he told BeijingReiew.

New twists Bourne has added Gothic elements into his adaptation, exemplified by the presence of vampires. When asked why he chose such a theme, the choreographer explained,'The mu- sical was written in 189O and thafs the height of the Gothic movement and literature."

42 BHJrilG REvrrW AUGUy 25, 2016 http//www.bjreview.com CUI.IURE

Matthew Boumewas born in 1960. He created a numberof award-winningworks, including Spitfre (1 988), N utcracked (199), Swan Lake (1 995) and Cinderella (997, as artistic director of his first company, Adventures in Motion Picturet from 1987 to 2@2. He co-founded theater company NewAdventures in 2@2. Since then, he has produced new works such as Eolaza rd Scissorhands Q@9, Doian Gny (2@8) and S/eeprng BeautyQOlD. ln 2008, he established Re:Boume, the charitable arm of New Adventures and an important mechanism forfinding and nurturing the next generation ofdancert choreographers and audiences. ln 201 O, he created the New Adventures Choreographer Award to enhance oppor- tunities and showcase the talents of emerging choreographers. He received a knighthood for services to dance from the Prince of Wales at Buckingham Palace in May and was awarded the Queen Elizabeth ll Coronation Award, one of the most coveted accolades in the world of dance, in recognition of his outstanding services to the art of ballet in June. (Sou rce: new-adven tu res neD

According to Bourne, fairy tales are often Bourne transforms her into a rebellious persona the present day, are incorporated to reflect the macabre, and he is making them the way they in his version. "l just thought she's the lead char- characteristics of different time periods. really are. "The original version of Sleeping acter. She needs to have a personality. We need Fifty-six-year-old Bourne embarked on Beauty, for example, is very dark, very explicit to Bet to know her a bit" he explained. his dancing career at the age of 22. He stud- sexually, and very violent" said Bourne. Though, "l want her to be a bit wild and unruly. I want ied dance theater and choreography at the despite its dark elements, he reasoned that ifs her to cry a lot, so that we get a sense of who London-based Laban Centre how Trinity Laban still a romantic love story. this girl is. lfs made clear she's not really the Conservatoire of Music and Dance), graduating Based on the ballet adaptation that has run daughter ofthe king and queen. She could be a in 1985. through to the present day, the director wove stolen child, a gypqy child," he added. "l honed in on dance because I became new twists into his version, adding layers of Another notable change is substituting quite self-conscious in my teenage years and complexity and fascination. Aurora's prince with a more lowly born gar- didn't like speaking veryr much. So I expressed Bourne is not convinced by the original's dener, whom the princess already knows. "l myself more through movement" he said. romance, in which the prince belatedty shows up, want there to be a love story across time. I want Over the past three decades Bourne, a fve- kisses the princess and falls in love. "l think it was her to be already in love with somebody, who time Olivier and two-time Tony award winner, needs save her try to a bad love story. I wanted a story that kept the then to and find her in the has created and directed dance for musicals, future. I think thafs a nice theme," Bourne said. opera, and drama going right through to the end," he said. theater, films. To thicken the plot, he created new char- He is renowned for his unconventional ap- proach to adapting classical works. For instance, acters. For instance, Caradoc, the wicked fairy's The art of dance he introduced male swans to his version of son and a suitor to Aurora, and Leo, a gardener Although the storyline is of chief importance, Swan Lake. "l like playing around with gender, if and the princesd childhood sweethearL dance sequences are also integral to his shows. ifs relevant Sometimes it really works. lfs quite Princess Aurora was simply a motionless Various dance styles ranging from classical bal- interesting' he said. baby in a cot in the first act of the original ballet let to more gestural and edgy movements of Additionally, Bourne is audience-conscious, being prepared to chanBe his work according to audience responses. ln the instant world of social networking and smart phonet theater faces a challenge to maintain its appeal. The director reminisces of the days before TV, when cinema was a majorform of entertain- ment He believes engaging youth is critical to keep theater alive. 'The important thing is that there's a young audience becoming interested in theater. lf there isn't, the art form just dies out" he lamented. Thankfully, he is able to keep his theater company afloat primarily through ticket sales, though government funding and private in- vestors play a part However, if sales drop off, financial difficulties could force the company to disappear. r

Copyedited by Dominic James Madar Comments to tijingQbtrevlew,com

http//www. bjreview.com AUGUY 25, 2O]6 BEIJIl{G REI,IEW 4] (Ul.IURE

Learning keyrrrords is one of the best ways to keep abreast of the latest developments in a country. The China Academy of Translation, a research institute affiliated with the China lnternational Publishing Group, the country's leading international publisher regularly analyzes prevailing Chinese terms in various sectors and translates them into a number of foreign languages ranging from English to Arabic. ln each issue Beirhg Review presents a selection of these keyrrrords to help readers know more about China.

Addressing the Flfth Plenary Meeting of the 18th Central Commission for Discipline lnspection of the CPC onJanuary Political development under socialism with Chinese charac- 13,2015, President Xi Jinping coined the term "political teristics has evolved over time as the Chinese people made rules," which soon drew public attention. sustained efforts to build a better society under the leader- The political rules applicable to CPC members include, ship of the Communist Party of China (CPC) by integrating inter alia: the basic tenets of Maxism with China's specific conditions. 1. the Constitution of the CPC, which is the overriding The key features of such a process comprise leadership statute that all members of the Party must observe; by the CPC, ownership by the people, and the rule of law. 2. Parly discipline, which is mandatory and binding It is informed by continued efforts to improve the qystem requiring all members of the Party to strictly abide by the of people's congresses, multiparty cooperation and politi- guidelines and principles of the Party when making speech- cal consultation underthe leadership of the CPC, regional es ortaking actions of a political nature; ethnic autonomy and community-level self-governance. 3. state laws which exempt no CPC member or official; Its objective is to continuously improve and develop the 4. the traditions and working practices developed socialist political qystem. Sreat by the Party overthe years, which must be maintained.

China's political party qystem is different from two-party or multiparly qystems of Western countries or one-party systems in some other countries. lt is based on multiparty cooperation and political consultation underthe leadership of the CPC. There are at present nine politi- cal parties in China. They are, in addition to the CPC, the Revolutionary Committee of the Chinese Kuomintang established in 1948; the Chinese Democratic LeaBUe, founded in 1941; the China National Democratic Construction Association, founded in 1945; the China Association for Promoting Democracy, established in 1945; the Chinese Peasants' and Workers' Democratic Party, established in '193O the China Zhi Gong Party, founded in 1 925; the Jiu San Society, established in 1 945; and the Taiwan Democratic Self-Government League, established in 194-7. China's political party qystem is prominently characterized by the CPCs leadership role in governing the country with cooperation from and participation of all the other parties. Rather than being opposition parties or parties not in power, the other parties work closely with the CPC as partners and participate in government They are involved in decision-making at all levelt consultations on national priori- ties and guidelines and the selection of candidates for state leadership positions the manaSement of state affairs, and the formulation and implementation of state policies laws and regulations. The CPC always cherishes its long-time partnership with the other partiet a partner- ship reinforced by mutual oversight and mutual trust and inspired by a shared desire to forge ahead together through thick and thin.

Comments to yanwei@bjreview com

44 BEIJIT{G REI,IEW AUGUsT 25,20I6 http//www.bjreview com China Africa Industria! Forum

Held under the banner of the Forum on China-Africa Cooperation, the China Africa Industrial Forum (CAIF) is committed to promoting development and cooperation between China and African countries. It aims to encourage rapid and sound eeonomic development in China as well as African countries and boost exchanges and cooperation in politics, the economy, culture, science and technology, and tourism.

rum has been held four times, witnessing the an 300 investment and procurement projects. inese enterprises start business in Africa and t China. F0RUl'l

a

he Central Government has recently an- managed in China has undermined scientistd unpredictable and that respecting the will of nounced a series of new measures to motivation to engage in research. Up to now researchers is crucial to the development of relax its stringent control over funding for equipment and materials have soaked up the scientific research and innovation. scientific research. lion's share of funding. The reform aims to Zhang Tianwei (Beijing Youth Daily)t For decades government funds for science increase the proportion of funds allocated to The current management of scientific in China have been allocated on the basis of ad- researchers and to give them more freedom in research funding is quite ineffective, as ministrative regulations. Researchers have had howthey use the money. demonstrated by two aspects. First, scien- to spend huge amounts of energy and time, While this round of reform is generally tific funds are disproportionately allocated either annually or monthly, filling in various welcomed, doubts also exist about whether in favor of equipment and materials, while expense claim forms in great detail to ensure relaxing control too much will simply fuel cor- researchers receive only a minor share. they receive reimbursement of the costs as- ruption. Second, scientific funds are managed and sociated with their research. The rigid reins on operated in the same way as government scientific funding have even affected normal More discretion for administrative funds. Under the rigid rules, research activities. Worse still, given the strict researchers have to spend quite a lot of time control, scientists sometimes resort to claiming scientists getting all kinds of expenses reimbursed. funds deceitfully in order to be able to conduct Yue Qian (news.sina.com.cn): ln China, the Leaving insufficient discretion to research- research as they Wsh. management of scientific research is conduct- ers over how to use funding has dampened On the whole, the way science funding is ed according to a planned model. The applicant their enthusiasm, and sometimes hinders nor- must detail every plan and arrangement for mal scientific research. As a result, some have how funding will be spent Having been Sranted tried to acquire more funds by falsely claiming the money, users can spend it only within the that they have conferences to attend and im- Dear Readers, framework imposed by the provider. portant trips to take. Perhaps, only two people These detailed plans are necessaryr in some will attend a certain activity, but have asked for Forum is a sense. lt makes administrative management four places. Actually, this has already become column that easier, while effectively preventing abuse of the an open secret Such behavior not only dam- funds and scientific research-related corruption. ages researcherC initiative for, and belief in, their provides a space All modem scientific research requires planned wor[<, but also exposes them to risks. for varying management ln 2012, for example, a professor from the The problem is that if the rules are too Renmin University of China was investigated perspectives on harsh, they might restrict scientists' creativity, and accused of using funds under false pre- contemporary which in turn goes against the inherent nature tenses, The professor claimed that as part of his Chinese society. ofscientific research. research, he needed to survey sex workers in Scientific research does have rules to follow south China's Guangdong Province. To gain the We invite you to but in essence, it is a creative activity. lt needs cooperation of those involved in prostitution, submit personal to break through cunent scientific frameworks which is illegal in China, he had to pay them viewpoints on past and modes to achieve new outcomes. lt should some money, for which, naturally, he was un- be carried out in an independent and free at- able to get invoices. Following the investigation, and current topics mosphere. the professor was demoted. (in either English Overly strict control affects the kind of To some extent the proper management independence and freedom that are key to of scientific research funds may be an intema- or Chinese). scientific creativity. ln particular, in many cases, tional headache. Scientific programs, particularly plans put by administra- highly sophisticated ones are not easily under- \/ yanweifdbjreview.com research are to8ether tive authorities according to their own priorities stood by non-specialists. How much money Please provide your name and preferences. does a program really need? Where should the and address along with Properly relaxing funding control neces- money go? your comments sitates accepting the reality that some factors Under China's current scientiflc research in scientific research are uncontrollable and system, most programs are financed by the

46 BHJI]IG REIIIEW AUGUSI D, 2016 h ttp//www.bj review.com F0RUI'l

Bovernment Preventing deception, embezzle- follow which is not conducive to facilitating sci- through many time-consuming procedures. ment and corruption is crucial to the success of entific research. Sufficient financial input should This round of reform of science budget a program. lfs also important because the gov- be a strong driver of innovation and creativity, management aims to stimulate scientists' ernment is responsible for taxpayers' money. but flaws in the management system block enthusiasm to undertake research by relaxing Therefore, reining in funding seems to be the scientific progress. Targeting these problems, control on funding to some extent The funds only choice. the cunent reform stipulates detailed and prag- can be used across a more extensive range of Nevertheless, scientifrc research is, after matic measures. areas and in a more flexible way. all, based on researchers' belief in science Its most significant feature is the delegating Meanwhile, it must be pointed out that and their free will. Excessively strict con- of power to universities and scientific research although stringently controlling funding is not trol over scientific funds places additional institutions to manage funds for conferences, good, loosening the reins too much is not burdens on researchers, and constant super- travel, scientific equipment purchases and infra- good either. We should always be alert to cor- vision sometimes forces them to conduct structure construction. ruption stemming from scientific research. actions under the table. Consequently, the Conferences highlight the issue. Under the Statistics from the Ministry of Education show whole of China's scientific circle is infused current system, if a foreign scientist is invited that scientific research-related malpractices with a utilitarian atmosphere. to attend a conference in China, daily expenses are a significant part of corruption in colleges The negative consequences have actually that can be reimbursed may not exceed 800 and universities. Without effective restrictions, already begun to unfold. Hopefully, this new yuan ($120), which may be insufficient to cover abuse of funds occurs easily. While relaxing the reform will be able to reverse the trend, help im- the cost of a standard hotel room in a large city. rules on scientific research funding a blind eye prove the environment for scientific research, Such embarrassing situations, caused by the should not be turned to conuption. and rebuild respect for science in the nation. We rigid travel expense regulations, often arise in The new measures have increased need drag payments to the scientific cause back to the the course of academic activities. to, and rewards for, researchers, normal path and encourage those engaged in The purpose of this round of reform is to but if their accounts are not reviewed or science to renew their passion and belief in the easily be stimulate scientific researchers' creativity. lt rec- checked carefully, the funds could endeavor. purposes scientific ognizes and respects their hard work by making embezzled for other than Ke (Economic Daily): ln recent years, research. We happens often li it easierforthem to use science funding know that this we have often heard complaints from the nowadays, so more attention should be paid frontlines of scientific research. Some scientists to this issue. say they spend a third of their time filling in all Hard nut to crack The authorities concerned have a hard kinds of application and reimbursement forms. Zhang Songchao (China Youth Daily): For nut to crack in deciding how to boost scientific Others say the complicated reimbursement years S,ovemment-allocated scientific research researchers' creativity and morale while making procedures and long drawn-out process have funds have been under such strict control sure that funds are properly and fully used. r distracted scientists from their research. The list that it's said that researchers have to turn of complaints goes on. themselves into accountants. Expenses often China's science funding is managed in a cannot be reimbursed smoothly. ln order to Copyedited by Chris Suftees traditional administrative style with rigid rules to get expenses reimbursed, scientists have to go http//www bjreview.com AUGU$ 25,20]6 BEIJIIIG REIJIEW 47 EXPAT'S EYE

The Cover Up y'Frare*6s** LEkkEe

T H,,':'$ of Shandong Province in east China at least. Fear pervaded the air as the mysterious agents broke into high-pitched laughter. Distinctive female laughter. Wait a minute- if this isn't an invasion, could it be the set of a horror movie or a maritime version of Halloween? Suddenly, the creatures were swarming the beach in dozens, as I beat a hasty retreat to the sanctity of an umbrella- covered icecream stand. Welcome to iust another day on Number 1 Beach Qingdao, the coastal city renowned as the home of the Tsingtao beer brand, China's favorite brew, and the yachting venue for the 2OO8 Olympics. The city now adds the invention of the face-kini into its repertoire of bragging riBhts. What these sartorially challenged items do is ostensibly cover the entire head and neck of the wearer like a ski mask, leaving holes only for the eyes, nose and mouth. Saving face-from sunburn; Qingdao's face-kini fashion accessory It's like the balaclava masks used in bank robbery movies or by some wrestlers in the kini wearers terrorized young beach visitors. summer selfie opportunities that venues such ring---but designed to protect the head and "ln the past, I really wanted to do eve$hing as an attractive stretch of beach have to offer. face from direct sunlight. I could to avoid scaring people. lf I were to Somehow, posting selfies of yourself encased The face-kini, as it is known, is made of make a face-kini, I wouldn't make a black in a scary face-kini on social media seems to be nylon and comes in a range of bright colors one, a white one, or use any dark colors. That the perfect way to lose followers by the dozen. that makes them easy to spot as they float still didn't stop it from scaring people," she And there's more. For those who want a total about in the sea. This is one giant leap up from can help said, I can definitely attest to thatl shut out of the vitamin D that the sun sun-screen. lfs a wellknown fact that the vast Zhangs designs have gradually evolved stimulate, the face-kini can be worn with a com- majority of Chinese women favor pale skin as a gloves-hardcore and her latest offerings are based on the more plete rubber bodysuit and sign of beauty, not to mention economic and child-frlendly designs of Peking opera masks- body protection indeed. social status. ln China, rather than being a qym- post and in something which Chinese have grown up with Watching from my lookout bol of the time spent relaxing on a beach or at I that despite and which gives beachgoers no incentive to go icecream heaven, thought an outdoor spa, as in many Western countries fashion being fickle, it seems the rushing to a safe place to cower in terror. Or so trends tanned skin is often associated with working face-kini has found a long-term market and long hours in the sun doing hard manual labor we are led to believe--l saw little evidence of is here to stay. lt also makes sense in a global such intention. and is way down on the list of what is desirable climate where the detrimental damage of The face-kini has also gone international orfeminine. the sun's ultraviolet rays has pushed skin after receiving exposure in a sr,vimwear photo- lfs that very fact that led the owner of cancer levels to record highs. Now, if only shoot wherein models wore the item for a 201 4 a local swimwear business, Zhang Shifan, the masks could be less frightenin& a trip to edition of biannual magazine CR Fashion Book, to try her hand at the fashion design indus- the beach wouldn't feel as if you'd be held up try-that, together with the protection it a publication founded by Vogue Pans' Editor in at 8un point at any moment. r could offer against jelly fish stings and algae. Chief Carine Roitfel. The face-kini inventor and designer told The face-kini is cheap to buy, at around Shanghai Daily lhal back in 2004, her first $3, and appears to be favored more by older ii""",n", .d sourhArr,canwor\nB;r Beiirng roughly stitched designs didn't go down too women. Perhaps younger women feel it gets copyedited by Bryan Michael Gaivan well with children. To put it simply, the face- in the way of the endless number of pouting commerlts lov:lv"'9?i:'l:1.t"

48 BEIJII{G RTUIEW AUGUST 25, 2016 htto:/iwww,bjreview.com An Africa-oriented English monthly covering China and Africa published by BEUING REVIEW, ChinAfrica is the leading publication in China featuring news, views and analysis for an African audience, WWW.CH INAFRICA"CN Sept. th-tr'Xth, 20"'[ , Xianren, Chrna

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