Building a Modern Infrastructure System - 20th Party Congress Propaganda Campaign - Karachi Terror Attack - Zhong Sheng: China-US-EU Triangle - Sun Lipeng on US' Economic Weakness & 'Selfish Recovery'
Here are the stories and pieces that I found noteworthy in the Wednesday, April 27, 2022, edition of the People’s Daily.
Page 1: It’s quite a busy front page today. Let’s begin with a report about the 11th meeting of the Central Committee Financial and Economic Affairs. Along with Xi Jinping, Li Keqiang, Wang Huning and Han Zheng were in attendance.
The report informs that:
The NDRC, the Ministry of Industry and Information Technology, the Ministry of Transport, the Ministry of Housing and Urban-Rural Development, the Ministry of Agriculture and Rural Affairs, the Ministry of Water Resources and other departments presented reports on comprehensively strengthening infrastructure construction during the meeting. In addition, the NDRC, the Ministry of Science and Technology, the Ministry of Ecology and Environment, the Ministry of Agriculture and Rural Affairs, the Emergency Management Department, the People's Bank of China and other departments presented reports on the implementation of the decisions and arrangements made by Central Committee for Financial and Economic Affairs since the 19th Party Congress.
“the meeting deemed the country’s infrastructure still incompatible with the demand for national development and security. Strengthening infrastructure construction in an all-round way is of great significance to ensuring national security, smoothing domestic circulation, facilitating the "dual circulation" of domestic and overseas markets, expanding domestic demand and promoting high-quality development.”
Xinhua English has a really good wrap of the key paragraph from the report. I am using that and filling some of the gaps from the PD report below.
The country needs to bolster the construction of network-based infrastructure in fields such as transport, energy and water conservancy, with efforts made to improve efficiency.
China should improve the planning of waterways and the building of coastal and inland ports, and upgrade water transport facilities nationwide, the meeting said, while a smart grid must be developed, a series of new green, low-carbon energy bases built, and the oil and gas pipeline network should be fine-tuned.
Efforts should also go into strengthening the infrastructure construction for industrial upgrades in information, sci-tech and logistics, as well as building facilities for a new generation of supercomputing, cloud computing, AI platforms and broadband networks.
A host of regional, general and freight transport airports will be constructed nationwide, the meeting said, calling for efforts to promote the transport integration of urban agglomerations, build convenient and efficient intercity railway networks, and develop urban railways and urban rail transit. In addition, the report talks about strengthening the construction of urban flood control and drainage systems, sewage and garbage collection and treatment systems, disaster prevention and mitigation systems, public health emergency facilities, and intelligent infrastructure, such as intelligent roads, intelligent power supply and intelligent public transportation.
It is necessary to strengthen the construction of agricultural and rural infrastructure, improve farmland water conservancy facilities, strengthen the construction of high-standard farmland, improve the rural transportation system, speed up the construction of urban and rural cold chain logistics facilities, implement large-scale water supply projects, strengthen the construction of rural sewage and garbage collection and treatment facilities, and promote agricultural and rural modernization through infrastructure modernization.
It is necessary to strengthen the construction of national security infrastructure and accelerate the improvement of our ability to deal with extreme situations.
The next paragraph adds that “under the unified leadership of the Party Central Committee, establish a coordination mechanism for major infrastructure construction, coordinate the planning and construction of infrastructure in various fields and regions, and strengthen the guarantee of the use of resource elements, such as land, sea, and energy.” 在党中央统一领导下，建立重大基础设施建设协调机制，统筹协调各领域、各地区基础设施规划和建设，强化用地、用海、用能等资源要素保障. In addition to this, “the meeting called for broadening the channels for financing and encouraged the participation of social capital in the investment and operation of urban infrastructure. The country should also adhere to its innovation-driven strategy, putting more efforts into the research and development of core technologies to shore up the technological independence of infrastructure construction.”
The report then talks about the need to strengthen the leadership of the CPC Central Committee over economic work. To do so, it argues that what is needed is to attach importance to political guidance, overall development and security, scientific formulation of strategic strategies, practical and theoretical innovation, an approach that combines perspectives on the near and long-term and one that tackles symptoms and root causes along with focusing on implementation. 加强党中央对经济工作的领导，要重视政治引领、纲举目张，重视统筹发展和安全，重视科学制定战略策略，重视实践创新、理论创新，重视远近结合、标本兼治，重视狠抓落实.
Next, there’s a report about the new Work Regulations of the Military Personnel Committee/Commission - 军人委员会工作规定. The regulations, the report informs, are guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement Xi Jinping Thought on Strengthening the Army, focus on strengthening the development of the armed forces’ grass-roots organisational system, consolidate and develop the unique political advantages of the ‘three democracies' (三大民主), implement the mass line, focus on reform and innovation, and standardise and improve the work of the military committee in the new era. 新修订的《规定》以习近平新时代中国特色社会主义思想为指导，深入贯彻习近平强军思想，着眼加强我军基层组织体系建设、巩固发展“三大民主”特有政治优势，贯彻群众路线、突出问题导向、注重改革创新，对新时代军人委员会工作进行系统规范完善.
Third, there’s a report about the CPPCC’s biweekly session, which this time focussed on promoting healthcare in rural areas. Wang Yang spoke at the meeting. PD says that he “emphasised that it is necessary to deeply understand General Secretary Xi Jinping’s important expositions on promoting the healthy development of rural medical and health care, adhere to the combination of top-level design and encourage grassroots exploration, increase investment, and build a fair and accessible structure that adapts to the new stage of development. 中共中央政治局常委、全国政协主席汪洋主持会议。他强调，要深入领会习近平总书记关于促进乡村医疗卫生健康发展的重要论述，坚持搞好顶层设计和鼓励基层探索相结合，坚持加大投入和完善机制相结合，构建适应新发展阶段、公平可及能持续的乡村医疗卫生体系，筑牢农民群众健康的“第一道防线”，为全面推进乡村振兴、建设健康中国提供有力支撑.
Ten political advisors spoke at the session, with almost 80 more voicing their opinions via a mobile platform. They argued that the “unbalanced and inadequate development of the rural medical and health care system remains a prominent problem.” In addition, it is important to “enable close coordination of medical services, medical insurance and medicine supply, and build a strong team of medical workers.”
Xinhua English summarises the next bit well:
“Attendees made suggestions such as planning and making use of healthcare resources in an integrated manner across an entire county, highlighting the functions of primary-level medical facilities in monitoring, preventing and treating age-related diseases, chronic diseases and endemic diseases, as well as spurring the enthusiasm of medical professionals at the primary level with incentives such as career growth and wage increases.” In addition, the PD report has them calling for greater investment in healthcare development in key rural revitalisation counties, investing in telemedicine or ‘Internet plus diagnosis and treatment’ and increasing the list of essential drugs in township hospitals and establishing a system for providing community-level TCM services.
Fourth, there’s a report informing us that the Central Propaganda Department has issued a notice for mass activities based on the theme “强国复兴有我” I am part of the rejuvenation of a strong country or, more literally, the rejuvenation of a strong country has me. This is expressly to build positive momentum heading into the 20th Party Congress.
The notice emphasises that under the guidance of Xi Jinping Thought on Socialism with Chinese characteristics for a new era, we should fully implement the spirit of the 19th Party Congress and all previous plenary sessions of the 19th Congress, deeply understand the decisive significance of the ‘Two Establishments, strengthen the ‘four consciousnesses’, the ‘four self-confidences’, achieve the ‘two safeguards’, carry forward the great spirit of party building, and extensively organise and carry out mass publicity and education activities with the theme of ‘I am part of the rejuvenation of a strong country’; fully publicise and display the historic achievements and changes in the cause of the Party and the country, further invigorate the spirit and gather strength, and inspire and mobilise the whole Party, the armed forces and the people of all nationalities to unite more closely around the CPC Central Committee with comrade Xi Jinping at the core…《通知》强调，要以新时代中国特色社会主义思想为指导，全面贯彻落实党的十九大和十九届历次全会精神，深刻认识“两个确立”的决定性意义，增强“四个意识”、坚定“四个自信”、做到“两个维护”，弘扬伟大建党精神，以“强国复兴有我”为主题，广泛组织开展群众性主题宣传教育活动，充分宣传展示党和国家事业取得的历史性成就、发生的历史性变革，进一步振奋精神、凝聚力量，激励和动员全党全军全国各族人民更加紧密地团结在以同志为核心的党中央周围，不忘初心、牢记使命，锐意进取、勇毅前行，满怀信心迎接党的二十大胜利召开.
The next paragraph lists the different types of activities to be carried out. These include:
First, learning experience activities at the grassroots levels so that people experience and understand the rapid development and changes that have taken place during the new era. So this covers activities such as tours and site visits.
Second, holding public events, open ideological and political classes, thematic lectures, etc.
Third, activities related to learning from advanced role models and outstanding cadres. This covers selecting and promoting role models.
Fourth, red gene inheritance education activities. These include talking about the Party’s spiritual development and focusing on the “great spirit of party building” by using red resources, such as red sites and memorial facilities in order to promote and upgrade patriotic education bases.
Fifth, focus on the ideological and moral education of the youth.
Sixth, a media campaign around the propaganda initiative. This includes having an online presence, conducting interviews and doing reports, etc.
Seventh, carrying out cultural activities such as poetry singing, calligraphy, painting, essay writing, knowledge contests, photo exhibitions, etc.
二是开展主题宣讲活动。举办思政公开课、主题宣讲会、形势报告会等，持续举办“核心价值观百场讲坛”，广泛组织开展百姓宣讲活动，讲足新时代伟大成就，讲透当前形势任务，讲清光明发展前景。三是开展先进模范学习宣传活动。精心做好覆盖不同领域、来自不同群体的榜样模范选树推介，推出一批“时代楷模”“最美人物”等先进典型，使“奋斗正当时”“奋斗成就梦想”的思想观念深入人心。四是开展红色基因传承教育活动。广泛宣传阐释以伟大建党精神为源头的中国共产党人精神谱系，推动各级爱国主义教育基地提质升级，用好红色遗址、革命文物和纪念设施等各类红色资源，激励干部群众传承红色基因、赓续红色血脉。五是开展青少年主题教育活动。准确把握青少年的特点和习惯，贴近青少年需求，将“四史”特别是党史作为思想道德教育的重要内容，纳入日常教育教学和校园文化活动中，引导青少年知史爱党、知史爱国。六是开展网上主题教育活动。设立“强国复兴有我”专题网页，进行网上宣讲、视频展播、访谈交流、人物报道等。主动设置议题话题，创新话语表达方式，推出一批既有内涵、又接地气的新媒体产品，展示好新时代建设成就、新时代人物风采。七是开展各类群众性文化活动。立足基层实际，组织诗词歌咏、书法绘画、演讲征文、知识竞赛、摄影展览等群众喜闻乐见的文化活动，举办文化进万家、广场舞展演、灯光秀、快闪等活动，开展主题影视剧展播展映，深化“我们的节日”活动，引导人们体悟新时代的幸福底色。
The final paragraph says that “all localities and departments must adhere to the correct political direction, educate people with Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, nurture people with socialist core values, inspire people with the historical mission of the great rejuvenation of the Chinese nation…” It also talks about the importance of focussing on the nature of the messaging to ensure that people are receptive to the propaganda. So, it calls for using language that will be familiar to the people and basing activities in real life circumstances.
Finally, there’s a report about the progress in delegate recommendation and nomination work in Anhui ahead of the 20th Party Congress. At present, Anhui has successfully completed the recommendation, nomination and inspection of candidates. Next, the election will be carried out, the report informs. To ensure that the quality of candidates that were being chosen was maintained, the report says that there was a focus on outstanding party members and advanced role models. There was also strict control on issues related to politics, integrity, identity and the legal record of candidates. Among other things, “the Organisation Department of the Provincial Party Committee, together with the Provincial Commission for Discipline Inspection, put in place six inspection teams, established six positive lists and 17 negative lists, and resolutely implemented them.” 省委组织部会同省纪委组成6个考察组，列出6项正面清单和17项负面清单，坚决把好关.
There’s also a commentary on the page drawing from Xi’s comments at Renmin University.
Page 2: A report about Xi’s speech at Renmin University arousing “enthusiastic responses” from colleges and universities and the youth around the country.
Second, a report on Hu Chunhua talking about the need to rectify all irregularities found in a national evaluation on the consolidation of poverty-alleviation achievements. The report says that between December 2021 and February 2022, the government had launched an initiative to evaluate the work on aligning the efforts of consolidating and expanding poverty-alleviation achievements with rural vitalization endeavors. The results of the evaluation are now out. Xinhua English says:
“The vice premier urged related departments to conduct thorough investigations and make a full list of the remaining problems and drawbacks, and formulate rectification plans accordingly. Local authorities involved in rural vitalization should perform their duties proactively, and seek to consolidate poverty-alleviation achievements by advancing rural development and increasing the incomes of those having shaken off poverty, Hu said. Hu added that these authorities should focus on speeding up the development of counties that have been lifted out of poverty and steadily raising the bottom-line social assistance.”
Third, a 仲音 commentary stressing on adhering to the zero-COVID or dynamic clearing policy. The commentary talks about the improving situation in Shanghai. It says that the rate of new infections is declining and the number of people being discharged from makeshift hospitals is increasing. “At present, Shanghai is in the critical stage of epidemic prevention and control, and the social clearing campaign has achieved important phased results, and some positive changes are emerging. This offers full confirmation of the scientificity and effectiveness of dynamic zero- COVID policy, and it is also proof of our ability to realise dynamic clearing.” 当前，上海正处在疫情防控关键阶段，社会面清零攻坚行动取得了重要阶段性成果，一些积极变化正在显现。这是对动态清零科学性、有效性的充分印证，也是对我们有条件、有能力实现动态清零的充分印证.
The article reiterates that Omicron is not the flu, that its impact on vulnerable populations and the healthcare system can be tremendous and that dynamic clearing is the best approach for China. “It can be said that insisting on dynamic clearing is not only an inevitable requirement of upholding the supremacy of people and life, but also a powerful embodiment of respecting science and the law. “可以说，坚持动态清零，既是坚持人民至上、生命至上的必然要求，也是尊重科学、尊重规律的有力体现.”
Anyway, the piece also says that the policy has three prongs – controlling the epidemic, ensuring the normal life of the people, and ensuring the necessary economic and social operation — all of which are indispensable. It adds that these three objectives are not in opposition to each other; rather they are complementary and dialectical. 抗击疫情是个系统工程，需要同时考虑三个方面：一是控制疫情，二是保障老百姓正常生活，三是确保经济社会必要运行，三者缺一不可。疫情防控和正常生产生活、经济社会发展绝不是非此即彼的“单选题”，绝不是对立的，而是相辅相成、辩证统一的关系。
Page 3: A couple of stories to note. First, a report about Turkmen President Serdar Berdimuhamedov meeting visiting Chinese State Councilor and Minister of National Defense Wei Fenghe. Xinhua reports:
Berdimuhamedov said that Turkmenistan attaches great importance to its relations with China, and the two countries have carried out high-level cooperation in the fields of politics, diplomacy, trade, culture, humanitarian and people-to-people exchanges, and established a strategic partnership. China is one of Turkmenistan's largest trading partners, the president said, adding that there are more than 1,400 Turkmen students studying in China, and students can major in the Chinese language in many Turkmen universities. Berdimuhamedov expressed the hope that the two militaries will strengthen practical cooperation in equipment technology, personnel training and other fields, and continuously push forward bilateral relations with new development.”
Wei said that “China firmly supports Turkmenistan’s permanent neutral status, firmly supports its pursuit of a development path suited to its national conditions, and firmly opposes external interference in Turkmenistan's internal affairs…In recent years, military-to-military relations between the two countries have been developing steadily and their pragmatic cooperation has been deepening day by day, he noted. The Chinese military is willing to further expand areas of cooperation with Turkmenistan, enhance the effectiveness of cooperation and strive to elevate military-to-military relations to a higher level, Wei said.”
Wei also met with Turkmen Defense Minister Begench Gundogdyev. They talked about “international and regional security situations as well as the Ukrainian and the Afghan issues, and both agreed that the two militaries will continue strategic communication, conduct personnel training, and strengthen anti-terrorist and equipment technology cooperation.”
Second, a brief report (English report) about NPCSC vice chairman Ding Zhongli attending a virtual seminar with 22 Francophone countries in Africa under the theme “Exploration and Practice of Democracy in the Legislatures of China and Africa.”
Third, a report on the Foreign Ministry’s statement following the terror attack in Karachi, which killed three Chinese nationals. SCMP reports:
“Three Chinese nationals were among four people killed in Pakistan’s southern port city of Karachi on Tuesday, when the van carrying them exploded. Police officials said two Chinese men and a Chinese woman were killed in the explosion near the University of Karachi’s Confucius Institute. China’s network of Confucius Institutes in universities around the world offer a form of cultural outreach and Chinese language teaching overseas. Responsibility for the attack was claimed by the Majeed Brigade, the suicide squad of the Baloch Liberation Army – an ethnic Baloch separatist group responsible for several recent attacks on Chinese nationals working in Pakistan. A spokesman for the University of Karachi identified the Chinese victims as Huang Guiping, the director of the institute, and Ding Mufang, a lecturer. A third Chinese national named Chen Sa was killed along with the van’s Pakistani driver. Another Chinese national, Wang Yuqing, was injured, the university spokesman said, without offering details.”
The Chinese foreign ministry said that:
“The blood of the Chinese cannot be shed in vain, and those behind this incident will surely pay the price…China expressed its strong condemnation and great indignation at the attack, as well as deep condolences to the victims and sincere sympathy to the injured and the bereaved families, the spokesperson said.”
“Chinese Assistant Foreign Minister Wu Jianghao has made an urgent phone call to the Pakistani Ambassador to China to express extremely grave concern. He demanded that the Pakistani side should immediately make thorough investigation of the incident, apprehend and punish the perpetrators to the full extent of the law, and take all possible measures to ensure the safety of Chinese citizens in Pakistan and prevent such incidents from happening again, according to the spokesperson. After the terrorist attack, Pakistani Prime Minister Shahbaz Sharif visited the Chinese Embassy to express his condolences, saying that the Pakistani government will conduct an in-depth probe into the incident, give exemplary punishment to the perpetrators, and strengthen security of Chinese personnel, projects and institutions in Pakistan in an all-round way. Sharif said his government will never allow any force to undermine Pakistan-China friendship. Local authorities in Sindh and Karachi have launched a full-scale investigation to hunt down the perpetrators, according to the spokesperson.”
Finally, there’s a Zhong Sheng commentary essentially pushing back on Deputy Secretary of State Wendy Sherman’s comments during her trip to Europe. The commentary says that:
“While adding fuel to the fire and creating obstacles for peace talks, the United States has tried to prolong the Russia-Ukraine conflict, engaged in coercive diplomacy, spread rumours about China, sought to fish in troubled waters and realise its strategic goal of containing and suppressing China in the Asia-Pacific region and around the world. Who is responsible for world peace and stability and who is undermining peace and stability with the Cold War mentality? The answer is self-evident.” 美国一边拱火浇油、为和谈制造障碍，试图将俄乌冲突长期化，一边大搞胁迫外交，造谣甩锅中国，企图浑水摸鱼，实现其在亚太地区和世界范围内遏制打压中国的战略目的。谁在为世界和平稳定尽责，谁在以冷战思维破坏和平稳定，答案不言自明.
The next paragraph criticises the US for engaging in cliques and block politics and says that the notion of the rules-based order is designed to protect its own interests and American hegemony.
“The United States should understand that China’s development and growth is an inevitable trend of history, and no force can stop it. How to get along with a China that has the courage to shoulder its responsibilities as a major power and is more confident and enterprising is a lesson that some American politicians must learn. The United States should understand that the era when world affairs were controlled by a few countries is gone forever. There is only one system in the world, that is, the international system with the United Nations as its core; there is only one order, that is, the international order based on international law; there is only one set of rules, that is, the basic norms of international relations based on the principles and purposes of the UN Charter. The United States should understand safeguarding the international system with the United Nations as the core and the international order based on international law is being on the right side of history.” 美国应该明白，中国的发展壮大是历史必然趋势，任何势力都无法阻挡。如何与一个勇于承担大国责任、更加自信进取的中国相处，是美国一些政客必须要补上的一课。美国应该明白，世界上的事情由少数几个国家操纵的时代已一去不复返了。世界只有一个体系，就是以联合国为核心的国际体系；只有一个秩序，就是以国际法为基础的国际秩序；只有一套规则，就是以联合国宪章宗旨和原则为基础的国际关系基本准则。美国应该明白，维护以联合国为核心的国际体系和以国际法为基础的国际秩序，才是站在历史正确的一边。
The next paragraph says that “if any country is challenging the international order and trampling on international rules, it is the United States.” The examples here are of the NATO’s bombing of the erstwhile Yugoslavia, the invasions of Iraq and Syria, “ignoring Russia's security concerns and using NATO as a tool to aggravate regional tensions” and the imposition of “unilateral sanctions,” which hinder the global economic recovery and impact people’s livelihood across all countries. The next paragraph pushes back against American criticism of the human rights situation in China, terming it as a “hypocritical performance of politicising human rights.”
The article criticises the “genocide against indigenous people,” the US’ management of COVID-19, interference in the internal affairs of other countries, launching of “wars under the guise of ‘democracy’ and ‘human rights’, and the fact that the US in March took in only 12 Ukrainian refugees, “leaving thousands of Ukrainian refugees stranded on the border between the United States and Mexico.”
The next two paragraphs are really noteworthy to understand some of the thinking in Beijing with regard to Europe.
“Who is providing opportunities for Europe and who is threatening its security and prosperity? Facts speak louder than words. China has become the EU’s largest trading partner since 2020. In the first two months of this year, the EU became China’s largest trading partner…In sharp contrast to the mutually beneficial cooperation between China and Europe, the United States has tried to hold Europe hostage through the Ukrainian crisis. It has not only turned a blind eye to the influx of more than 5 million Ukrainian refugees into Europe, but also deliberately encouraged Europe to expand its sanctions against Russia, which has led to the deterioration of many economic indicators in Europe. The inflation rate in the eurozone broke historical records, soaring to 7.4% in March. At the same time, the share price of American military giants has risen dramatically, a large amount of European hedge funds have flowed to the United States, and the United States is preparing to sell more high-priced LNG to Europe.” 谁在为欧洲提供机遇，谁在威胁欧洲安全与繁荣？事实胜于雄辩。中国2020年起就成为欧盟第一大贸易伙伴。今年前两个月，欧盟成为中国第一大贸易伙伴...与中欧互利合作形成鲜明对比的是，美国试图借乌克兰危机绑架欧洲，不但对超过500万乌克兰难民涌入欧洲视而不见，还一意鼓动欧洲扩大对俄制裁，导致欧洲多项经济指标恶化，欧元区3月通胀率打破历史纪录飙升至7.4%。与此同时，美国军工巨头股价涨幅惊人，大量欧洲避险资金流向美国，美国还准备向欧洲出售更多高价液化天然气.
“China and Europe are two major forces to safeguard world peace, two major markets to promote common development, and two major civilisations to promote human progress. The stability of China-EU relations helps to cope with the uncertainty of the international situation, the open cooperation between China and the EU helps to promote the in-depth development of economic globalisation, and the solidarity and cooperation between China and the EU helps to cope with global challenges. The United States has fabricated the so-called ‘China threat’ lies, hyped its competition with China, and advocated for a ‘systemic rivalry’, which are all the embodiment of its zero-sum thinking and hegemonic nature that cannot bear to witness the stable development of China-EU relations. As an important force in the process of multi-polarisation, Europe should form a more independent, objective and rational understanding of China and promote and deepen mutually beneficial cooperation between the two sides based on the principle of strategic autonomy, which is in line with the fundamental and long-term interests of Europe.” 中国和欧洲是维护世界和平的两大力量、促进共同发展的两大市场，也是推动人类进步的两大文明。中欧关系的稳定性有助于应对国际形势的不确定性，中欧开放合作有助于推进经济全球化深入发展，中欧团结协作有助于应对全球性挑战。美国编造所谓“中国威胁”的谎言，炒作对华竞争，鼓吹“制度性对手”，是其见不得中欧关系稳定发展的零和思维和霸权本质的体现。作为多极化进程中的一支重要力量，欧洲应早日形成更为独立、客观、理性的对华认知，本着战略自主原则推进并深化双方互利合作，这符合欧洲的根本和长远利益.
With this, also note that EU foreign policy chief Josep Borrell’s blog post from yesterday has this bit on China.
“All countries, especially the most powerful ones, must contribute to preserving and strengthening this rules-based international order. Some have specific international responsibilities. China is a permanent member of the United Nations Security Council and has always stated its attachment to protecting the sovereignty of countries and the inviolability of borders. Bearing in mind its important economic relations with the European Union as well as with Ukraine, it would be logical for China to use its good relations with Russia to help bring President Putin to a path of law and peace. Unfortunately, we do not see any sign of this happening at the moment.”
Page 9: On the theory page, the lead piece is by Chen Gang, Party Secretary of the All-China Federation of Trade Unions. I am not really interested in the article to do a deep dive. But it’s worth noting that he talks about “guiding the workers and masses to deeply understand the decisive significance of the ‘Two Establishments’, and unite more closely around the Party Central Committee with Comrade Xi Jinping as the core” and calls for publicity activities around work leading to happiness, the beauty of labour and celebrating artisans, etc. In the final paragraph, he writes:
“It is necessary to implement the decision-making arrangements of the CPC Central Committee on solidly promoting common prosperity, promote the situation that those who work more receive more benefits and those who are highly skilled receive more benefits, increase the proportion of labour remuneration in the initial distribution, and increase the labour remuneration of workers, especially front-line workers. We will do a solid and effective job in safeguarding the rights and interests of employees, focus on safeguarding the legitimate rights and interests of workers in new employment forms, migrant workers, urban workers with difficulties and other groups…”
Page 17: There’s a piece by Sun Lipeng from CICIR on the US economy.
He writes that the US economy is facing the challenge of the ‘three highs’, i.e., high inflation, high debt and high risk of asset bubbles.
Sun writes that inflation in the US is "currency-driven", "demand-driven", "cost-driven" and "structurally driven." “Therefore, it is difficult for the Federal Reserve to fundamentally achieve the goal of price stability and the inflation rate returning to the 2% range by tightening monetary policy in the short term. This problem will plague American economic recovery in the next 1-2 years or even longer.”
“At present, the total debt of the U.S. federal government is about $30.3 trillion, far exceeding last year's GDP of about $23 trillion. As the U.S. enters the interest rate hike cycle, the cost of paying interest on its debt increases sharply, which will have a ‘crowding out’ effect and weaken the U.S. government's ability to cope with future economic risks.” “二是高债务风险。大规模财政刺激的另一代价是美国联邦债务飙升。目前，美国联邦政府债务总额约为30.3万亿美元，远超美国去年约23万亿美元的国内生产总值。随着美国进入加息周期，其债务付息成本陡增，这将产生“挤出”效应，削弱美国政府应对未来经济风险的能力.”
The Fed’s loose monetary policy has “caused a large amount of funds to enter the American capital market, which has led to a surge in the price of financial assets. Once the Fed tightens its monetary policy more than expected, the financial risk of the bubble being punctured will increase.” 三是高资产泡沫风险。美联储采取的“大水漫灌式”宽松货币政策，使大量资金进入美国资本市场，催生金融资产价格高涨。一旦美联储超预期紧缩货币政策，泡沫被刺破的金融风险将增加。
He later adds that looking back at the history of the Fed, it has “never succeeded in curbing serious inflation and maintaining economic growth simultaneously.” Sun adds that “fundamentally, the problem with the US economy is that it lacks the endogenous impetus for long-term growth.” Since the 2008 crisis, he writes, plans such as those to double exports or to bring back manufacturing enterprises to the US have not been effective. In addition, he argues that America’s “scientific and technological innovation transformation ability is also weakened by factors such as the monopoly of large enterprises. Instead, economic growth mainly depends on fiscal policy and monetary policy.” At the end of 2021, a number of important pandemic relief measures adopted by the US government expired one after another. With the ‘tide’ of fiscal stimulus receding, the United States still hasn’t found a new economic growth point, and the slowdown of economic growth seems inevitable. In addition, the abuse of sanctions by the United States and the West against Russia will not only increase the cost of cheap global financing in the United States in the long run, but will also continue to overdraw the credibility of the US dollar, which will definitely bring a long-term impact on the US’ financial hegemony and economic strength.” 从根本上看，美国经济的问题在于缺乏长期增长的内生动力。自2008年金融危机以来，“出口倍增计划”“制造业回流计划”等经济转型措施均效果不彰，而美国科技创新转化能力因大型企业垄断等因素也在削弱，经济增长主要依靠财政政策、货币政策来支撑。2021年底，美国政府多项重要的疫情救助措施相继到期，伴随财政刺激的“潮水”退去，美国仍然没有找到新的经济增长点，经济增长放缓似乎不可避免。此外，美西方对俄滥用制裁措施，长期看不仅会增加美国全球廉价融资的成本，而且持续透支美元信誉，必将给美国金融霸权和经济实力带来长远冲击.
Finally, Sun writes:
“The negative spillover effect of American economic policy adjustment can not be ignored. It will bring challenges to global economic and financial stability.
First of all, American inflation has the characteristics of being exported, global inflation will persist for a long time, and export-oriented emerging markets and developing countries will continue to face the pressure of imported inflation.
Second, the potential financial risks have intensified. Emerging markets will face the pressure of capital outflow, and the economic and financial environment will deteriorate.
Third, the current economic transformation policy of the United States is a kind of selfish recovery - 自私性复. Policies such as the ‘Buy American Plan’ and others are intended to limit the economic stimulus effect to the domestic economy, while the rest of the world deals with inflation and other negative effects.
Fundamentally, the United States is trying its best to maintain its own economic hegemony and weaken the global industrial division of labour. Its irresponsible and self-serving policies policies will cast a shadow over the prospects of global economic recovery.”
美国经济政策调整的负面外溢效应不容忽视，将给全球经济和金融稳定带来挑战。首先，美国通胀具有向外输出的特点，全球通胀将在较长时间内存在，外向型新兴市场和发展中国家将持续面临输入性通胀压力。其次，潜在金融风险加剧。新兴市场将面临资本外流等压力，经济金融环境将恶化。再次，美国目前的经济转型政策是一种自私性复苏，通过“购买美国货计划”等政策，有意将经济刺激效果留在国内，而让全球承担由此产生的通胀及其他负面影响。从根本上看，美国极力维持自身经济霸权，削弱全球产业分工合作，其不负责任、自私自利的政策将给全球经济复苏前景蒙上阴影。