» 03/15/2016, 19.03
Chinese steel workers the striking miners
In Heilongjiang province, thousands of miners are off the job to demand back pay. In Shanxi, workers are threatening legal action against employers. For now, the central government is standing by and watching things unfold, but a massive crackdown is possible. Millions of jobs are at risk.
Five new ministers bring new blood to cabinet
The cabinet reshuffle a few weeks before the party congress is not a showdown but an attempt to bring in new faces and increase the executive’s effectiveness. The Xinhua news agency gets a new editor. All is set for reconciliation between the Jiang and Hu clans.
12/03/2016 16:14:00 CHINA
China’s central bank reassures world that growth targets reachable
Governor Zhou Xiaochuan pledges not to use “exchange rates or other monetary policies to stimulate exports", nor resort to massive capital injections.
Kathmandu proclaims 8,000 Maoist martyrs
Maoist fighters who died during the civil war constitute most of the martyrs. Opposition parties as well as the ruling party’s junior coalition partners are against the move because it belittles those who “sacrificed their lives for the nation”. But the issue is also about money.
Li Keqiang calls 7 per cent growth the "new normal," pledges fight against pollution and corruption
Speaking before the National People's Congress, the prime minister promised to create 10 million new jobs and undertake painful reforms to stabilise an economy too dependent on exports and government investments. China's economy suffers from excess capacity, little innovation, and a weak agriculture. The "war on corruption" and "zero tolerance" will continue, as will support for clean technology.
For Wen Jiabao, economic and political reforms are an "urgent task"
The premier says another Cultural Revolution is a real danger. He admits to problems, such as the divide between rich and poor, the party's credibility gap and the corruption of its members. However, he has little to say about solutions. He reiterates the need for price controls to avoid a real estate bubble and promises that the yuan will float more freely. He acknowledges that he should have had direct meetings with people. Yet, hundreds of petitioners were recently either sent home or arrested.
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