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Several days ago, Hubei writer Deng Fuhua had his rights egregiously violated by Hubei Province Shiyan City authorities. He is using multiple channels to express his strong disagreement with this treatment. This includes drafting a letter to the people in charge of the Municipal Standing Committee of the National Peoples Congress, hoping that local and national legal and supervisory authorities will take it upon themselves to accord with the law and protect the personal and democratic rights of an individual citizen. With Deng Fuhua's permission, we enclose the content of his letter to the Shiyan Municipal Standing Committee of the National Peoples Congress Communist Party Leading Group Secretary and Standing Committee Deputy Director Guan Xiaolan. We hope that domestic and international media will distribute the message widely: Deng Fuhua's telephone number: 139-719-00079 Dear Director Guan: I will first summarize my situation in writing. I hope that you will make a formal inquiry into these matters. http://news.boxun.com/news/gb/china/2008/10/200810161534.shtml Professor Li Daokui who has returned from overseas to direct Qinghua University's Research Center for China and the World Economy, is a representative of the former view. On CCTV's Economic Channel, he proposed an offensive and defensive strategy for the crisis facing China, to change crisis into opportunity and ensure continued economic growth for 30 years. Li in fact offered no wisdom about how China would hold its own in this crisis; aware that expanding exports and investment is no longer viable, he blandly proposed the Government to go into deficit to stimulate consumption. On the subject of taking advantage of the plight others are undergoing, however, Li had a different idea to those who advocate buying up cheap overseas assets: foster, as a strategic investment, a segment of Chinese government officials to gradually gain entry to the boards of directors of Western financial institutions, gaining rights to information and even controlling shares, and leaving scouts and even Trojan horses in the Western financial system. However, most people in today's China have lost interest in these fairy tales told by "returnees," because it is clear to all endowed with a little common sense that the advent of the global financial crisis sharply increases the possibility of China moving into troubled times. In the short term, China is indeed in an relatively advantageous position in the global financial tsunami because China is a creditor, rather than a debtor trapped in a payment crisis. China's frustration, however is that, as a creditor, it unable to take the opportunity to obtain its debtors' good assets at low cost, because the Chinese bureaucracy is incapable of identifying or managing them. Above all, the Chinese government totally lacks either the confidence or ability to prevent its own bureaucrats from turning against it and pursuing personal benefit at significant cost to national interests. As a result, China had no choice but to allow the United States and other Western countries to issue a large amount of currency to dilute Chinese's claims on them, significantly depreciating China's overseas financial assets. Of course, Wen Jiabao does not mind the huge devaluation of China's foreign exchange reserves at this time because he has bigger problems to face. In order to curb inflation, Wen carried out monetary tightening for 10 months, badly hurting the domestic economy. He must now make a U-turn in order to stop the economy from going into a disastrous recession. Everyone knows that the key to addressing China's economic problems is to raise domestic demand, especially to increase consumer demand from the peasantry. However, the problem of insufficient consumer demand among Chinese people is not new. Why then is it so difficult to solve? Given the global financial crisis, what is the ultimate meaning for the CPC regime of this long-standing major problem? A deep reason why China embarked on an abnormal development model that is highly dependent on export demand, was that the CPC leaders always adhere to the policy of "preferring to endow friendly nations, rather than give to household slaves." They would rather present developed countries with large amounts of purchasing power for nothing, than raise the basic rights of Chinese people, because they intuitively understand that enhancing these rights would eventually threaten their privileges and the Party's birthright. The problem is that without enhancing ordinary people's basic rights, it is impossible to raise the national share of consumption demand. The outbreak of the global financial crisis blocks the path of supporting growth by expanding China's exports, forcing the CPC regime to face the problem of basic rights of China's people, especially the peasants. That being the case, is the regime capable of enhancing peasants' basic rights? They couldn't achieve this even under favorable external economic circumstances in the past; what reason is there to believe that they are able to do so with the world in extreme economic circumstances? The communiqué of the just-concluded Third Plenary Session of the 17th Central Committee is full of empty castles in the air. Empty talk is tolerable in good times, but carrying on with nothing but empty talk in the face of adversity can't be called anything but ominous. It makes us aware that, in a time of crisis, the CPC is stuck with its mediocre and incompetent leadership. If this problem drags on and the global financial crisis continues to worsen, the outbreak of comprehensive crisis in China becomes entirely possible. 梁京： 席卷全球的金融危机对中国意味着什么? © Copyright 2008 by Boxun News Top of Page |
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