Thread: China’s $1 Trillion Plan to Shake Up the Economic Order

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In China today, poverty refers mainly to the rural poor as decades of economic growth has largely eradicated urban poverty.[1][2][3] The dramatic progress in reducing poverty over the past three decades in China is well known. According to the World Bank, more than 500 million people were lifted out of extreme poverty as China’s poverty rate fell from 88 percent in 1981 to 6.5 percent in 2012, as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing price parity terms.[4]

Since the start of far-reaching economic reforms in the late 1970s, growth has fueled a remarkable increase in per capita income helping to lift more people out of poverty than anywhere else in the world: its per capita income has increased fivefold between 1990 and 2000, from $200 to $1,000. Between 2000 and 2010, per capita income also rose by the same rate, from $1,000 to $5,000, moving China into the ranks of middle-income countries. Between 1990 and 2005, China’s progress accounted for more than three-quarters of global poverty reduction and a big factor in why the world reached the UN millennium development goal of halving extreme poverty. This incredible success was delivered by a combination of a rapidly expanding labour market, driven by a protracted period of economic growth, and a series of government transfers such as an urban subsidy, and the introduction of a rural pension.[5] Independent studies by Gallup indicate the poverty rate in China fell from 26% in 2007 to 7% by 2012,[6] although World Bank extrapolations suggest that the percentage of the population living below the international poverty line continued to fall to 4.1 percent in 2014.[4]

At the same time, however, income disparities have increased. The growing income inequality is illustrated most clearly by the differences in living standards between the urban, coastal areas and the rural, inland regions.[7][8] There have also been increases in the inequality of health and education outcomes,[9] and increased attention to unequal outcomes for ethnic minorities.[10] To alleviate the situation, the Chinese government shifted its policy in recent years to encourage urban migration, fund education, health, and transportation infastructure for poor areas and poor households.[11] In addition the government is attempting to rebalance the economy away from investment and exports toward domestic consumption and public services, to help reduce social disparities. Relocation of the poor from poverty stricken regions to more developed urban areas is also being implemented as part of the holistic plan to tackle rural poverty.[12]

https://en.wikipedia.org/wiki/Poverty_in_China

China has done a good job fixing its massive problems. It did so by protecting its wealth, industry, jobs and money supply. The wealth transfer from our nation to theirs was a huge part of it as was moving from a purely communist nation to a much more capitalist system in China. Time to stop our giving of ours to theirs, turn it back around to America First with much more balanced trade and that is in the works now thanks to DJ Trump. I think it's great that we're off to a good start with a good relationship with China while turning things back our way for a more fair and balanced trading relationship, and I like seeing China step up to make investments like the ones in this thread article that will help other nations in their region and connected areas.

Originally Posted by Judy

...

China has done a good job fixing its massive problems. It did so by protecting its wealth, industry, jobs and money supply. The wealth transfer from our nation to theirs was a huge part of it as was moving from a purely communist nation to a much more capitalist system in China. ...

China remains a communist nation that runs the capitalist economy. The Communist Party continues to run the country and all political and governmental power rests in the Communist Party.

It is amazing how many people refuse to see this, even while vilifying the Russian Federation as if it were still the Soviet Union. The Russian Federation is a real capitalist society run by "oligarchs" as proclaimed by the West. The Communist Party is practically dead in the Russian Federation, even while it runs China.

The economy is privatized in the Russian Federation. The economy is not privatized ​in the People's Republic of China.

Yes, that's right, and a great point you made, pkskyali.

This economic plan has been in the works since 2013 and Trump had nothing to do with it.


The Silk Road Economic Belt and the 21st-century Maritime Silk Road
(simplified Chinese: 丝绸之路经济带和21世纪海上丝绸之路; traditional Chinese: 絲綢之路經濟帶和二十一世紀海上絲綢之路), also known as the Belt and Road Initiative, the Belt and Road (abbreviated B&R), or One Belt, One Road (abbreviated OBOR, simplified Chinese: 一带一路; traditional Chinese: 一帶一路) is a development strategy, proposed by Chinese president Xi Jinping that focuses on connectivity and cooperation among countries primarily between the People's Republic of China and the rest of Eurasia, which consists of two main components, the land-based "Silk Road Economic Belt" (SREB) and oceangoing "Maritime Silk Road" (MSR). The strategy underlines China's push to take a bigger role in global affairs, and its need for priority capacity cooperation in areas such as steel manufacturing.^[1][2]

The Logo of the Belt and Road Forum, 14-15 May 2017, Beijing

It was unveiled in September and October 2013 in announcements revealing the SREB and MSR, respectively. It was also promoted by PremierLi Keqiang during the State visit in Asia and Europe.

It was the most frequently mentioned concept in People's Daily in 2016.<sup>[3]

https://en.wikipedia.org/wiki/Belt_and_Road_Initiative</sup>

Mon May 15, 2017 | 12:28am EDT

China adds 4.65 million new urban jobs in January-April: stats bureau

China's economy is growing within a reasonable range, with 4.65 million new urban jobs created between January and April, National Bureau of Statistics spokesman Xing Zhihong told a news conference on Monday.

(Reporting by Kevin Yao; Editing by Shri Navaratnam)

http://www.reuters.com/article/us-ch...-idUSKCN18B0CD

What China Has Been Building
in the South China Sea

By DEREK WATKINS

UPDATED October 27, 2015
China has been rapidly piling sand onto reefs in the South China Sea, creating seven new islets in the region. It is straining geopolitical tensions that were already taut.点击查看本文中文版

ASIA

PACIFIC OCEAN

South China Sea

AFRICA

AUSTRALIA

The speed and scale of China’s island-building spree have alarmed other countries with interests in the region. China announced in June that the creation of islands — moving sediment from the seafloor to a reef — would soon be completed. Since then, China has focused its efforts on construction. So far it has constructed port facilities, military buildings and an airstrip on the islands, with recent imagery showing evidence of two more airstrips under construction. The installations bolster China’s foothold in the Spratly Islands, a disputed scattering of reefs and islands in the South China Sea more than 500 miles from the Chinese mainland.China’s activity in the Spratlys is a major point of contention between China and the United States and was a primary topic of discussion between President Obama and President Xi Jinping of China during the Chinese president’s visit to the White House in September. On Monday, the United States sent a Navy destroyer near the islands, entering the disputed waters.

Hanoi

PACIFIC OCEAN

SOUTH CHINA SEA

HAINAN

Manil
Vietnam claims the Paracel and the Spratly Islands. yanmar

LAOS

Paracel Islands

PHILIPPINES

Claimed by the Philippines

China has long marked its claim with a “nine-dash line” that skirts the coasts of other countries.

VISAYAS

THAILAN

Yango

SULU SEA

CAMBODI


Fiery Cross Reef

100 MILES

Ho Chi Minh City

Phnom Penh

CELEBES SEA
Claimed by Brunei

GULF OF THAILAND

MALAYSIA

ANDAMAN SEA

Claimed by Malaysia

BRUNEI

INDONESIA

SULAWESI

Claimed by Indonesia

BORNEO

Islands are colored by occupying country: China, the Philippines, Malaysia, Vietnam or Taiwan. Lines in the same colors show the extent of territorial claims.
Sources: C.I.A., NASA, China Maritime Safety Administration


The new islands allow China to harness a portion of the sea for its own use that has been relatively out of reach until now. Although there are significant fisheries and possible large oil and gas reserves in the South China Sea, China’s efforts serve more to fortify its territorial claims than to help it extract natural resources, said Mira Rapp-Hooper, formerly the director of the Asia Maritime Transparency Initiative at the Center for Strategic and International Studies, a Washington research group.Though too small to support large military units, the islands will enable sustained Chinese air and sea patrols of the area. The United States has reported spotting Chinese mobile artillery vehicles in the region, and the islands could allow China to exercise more control over fishing in the region.

Dredgers
Sediment stream

Dredgers pump sediment onto Mischief Reef, March 2015.

Image by DigitalGlobe, via CSIS Asia Maritime Transparency Initiative

Several reefs have been destroyed outright to serve as a foundation for new islands, and the process also causes extensive damage to the surrounding marine ecosystem. Frank Muller-Karger, professor of biological oceanography at the University of South Florida, said sediment “can wash back into the sea, forming plumes that can smother marine life and could be laced with heavy metals, oil and other chemicals from the ships and shore facilities being built.” Such plumes threaten the biologically diverse reefs throughout the Spratlys, which Dr. Muller-Karger said may have trouble surviving in sediment-laden water.

Sediment is broken up and sucked from the seabed.

Material is transported through a floating pipe.

Dredged material is deposited on the reef.

Anchor pole

Submerged reef

Ocean floor

The Chinese were relative latecomers to island building in the Spratly archipelago, and “strategically speaking, China is feeling left out,” said Sean O’Connor, principal imagery analyst for IHS Jane’s. Still, China’s island building has far outpaced similar efforts in the area, unsettling the United States, which has about $1.2 trillion in bilateral trade go through the South China Sea every year. Defense Secretary Ashton B. Carter criticized China’s actions in the region in May, asserting that, “The United States will fly, sail and operate wherever international law allows, as we do all around the world.” The United States reinforced that assertion on Monday and angered the Chinese when it sent the Lassen, a guided-missile destroyer, within 12 nautical miles of the islands, the conventional limit for territorial waters. According to statements from David Shear, the top Pentagon official in charge of Asia and the Pacific, the last time the United States sent ships or aircraft that close to the islands was in 2012.

Buildings under construction at Fiery Cross Reef, September 2015.

Image by DigitalGlobe, via CSIS Asia Maritime Transparency Initiative
What Is on
the Islands?


PHILIPPINE CLAIM

REED BANK

EXISTING AIRSTRIP

n Reef

M

Johnson South Reef

Hughes Ree

SOUTH CHINA SEA

UNDER CONSTRUCTION

PHILIPPINES

SPRATLY ISLANDS

West Reef

MALAYSIAN CLAIM

Sulu Sea

50 MILES

CHINESE CLAIM

Islands and reefs that have undergone recent construction are shown with a white ring. Colored rings show whether the feature is occupied by China, the Philippines, Malaysia, Vietnam or Taiwan.

Sources: C.I.A., NASA, China Maritime Safety Administration

Vietnam, Malaysia, the Philippines and Taiwan have all expanded islands in the Spratlys as well, but at nowhere near the same scale as China.

2011Island expansio

Land reclamation at Vietnam’s Sand Cay.

Image by DigitalGlobe, via CSIS Asia Maritime Transparency Initiative

For China, the Fiery Cross Reef is the most strategically significant new island, with an airstrip that is long enough to allow China to land any plane, from fighter jets to large transport aircraft. But China’s airstrip is not the first in the region — every other country that occupies the Spratlys already operates one as well.

Dredging pipes

Construction on Fiery Cross Reef, April 2015.

Image by CNES distributed by Airbus DS, via IHS Jane’s

China’s reefs hosted smaller structures for years before the surge in construction. By preserving these initially isolated buildings, China can claim that it is merely expanding its earlier facilities, similar to what other countries have done elsewhere in the region.

Possible radar facility

Harbo

Image by DigitalGlobe, via CSIS Asia Maritime Transparency Initiative

In recent months, China has nearly completed two of its largest island building projects, at Mischief Reef and Subi Reef. Current imagery shows that China has likely started building airstrips on long, straight sections of each of those islands, which would give the country three airstrips in the area.

Half a mile

Airstrip under constructioAccess channel

hina’s land reclamation efforts and airstrip construction at Subi Reef, September 2015.

Image by DigitalGlobe, via CSIS Asia Maritime Transparency Initiative

Sources: C.I.A., Congressional Research Service, CSIS Asia Maritime Transparency Initiative, IHS Jane’s, NASA, China Maritime Safety Administration

https://www.nytimes.com/interactive/...china-sea.html