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China will pursue reforms stretching from finance to the environment China sent its strongest signal yet that its days of chasing breakneck economic growth were over, promising to wage a "war" on pollution and reduce the pace of investment to a decade-low as it pursues more sustainable expansion. In a State of the Union style address to an annual parliament meeting that began on Wednesday, Premier Li Keqiang said China aimed to expand its economy by 7.5 percent this year, the highest among the world's major powers, although he stressed that growth would not get in the way of reforms. In carefully crafted language that suggested Beijing had thought hard about leaving the forecast unchanged from last year, Li said the world's second-largest economy will pursue reforms stretching from finance to the environment, even as it seeks to create jobs and wealth. After 30 years of red-hot double-digit growth that has lifted millions out of poverty but also polluted the country's air and water and saddled the nation with ominous debt levels, China wants to change tack and rebalance its economy. "Reform is the top priority for the government," Li told around 3,000 hand-picked delegates in his first parliamentary address in a cavernous meeting hall in central Beijing. "We must have the mettle to fight on and break mental shackles to deepen reforms on all fronts." Idle factories will be shut, private investment encouraged, government red-tape cut and work on a new environmental protection tax speeded up to create a greener economy powered by consumption rather than investment, Li said. (news) |
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China has to be careful about a pure capitalist system, because the phase change within capitalist systems, is Plutocratic process, which can easily turn to a Plutocracy, which is as bad as a totalitarianism system. If fact it may well be far worst, because the dictation of the monarchical elements within a plutocracy can exact crazy policies upon the masses. They can make it so crazy, until people will hunger to return to Totalitarianism. China is right, they have to be VERY careful how they move ahead. Already they have built up more infrastructure than they can afford to maintain, they still have massive improvements which are needed in their health care system and they need huge systems to be implemented which is a security net for a mass of aging citizens. They pushed an agenda to thrust that back upon the children, but the way wealth and greed works, some children will find ways to not give and support their elders once those kids get a taste of the extravagant self indulgent mentality. The double digit growth that China experiences, it is and was always going to come to a decline. The rest of the world cannot afford it to continue, nor can China afford it. It's pollution is so bad, until China does not have a grasp on what it will cost for environmental clean up. They have Trillions of Dollars of clean up needed. They also have a Fresh Water issue, which they need to truly work on. They have a huge issue with 'waste disposal" and sewage processing and disposal. the level of toxicity in the sea waters around their major cities has big issue, which have not began to be addressed in the levels that it needs to be. Over fishing, also is a issue, because the less sea life, the less the sea life can consume some aspects of things which help process an keep the water usable and breed more sea life. I would suspect in some area's of China, the rate and % of birth deformities is quite high, as well as pockets in various area which has a dramatic rise in various types of cancers. I'm sure the Official are well aware of these things, but they will not be published for wide spread information sharing. The public stampede would be overwhelming in some area of people lodging complaints. China should have long know, the world would not have sit back an allowed this expansive growth to endure for so long, if they did not know there were cost too great to bear. But the global system sit back while China polluted its nations, in pursuit of quick growth and capital inflow. But at the same time, compounding this problem, is to have created wealth in some sectors and deep depression in other, and now, it has to draw upon the wealth created to cover the cost of the clean up. Some will profit greatly from the clean up business, but others will carry a burden, as automation and cleaner systems will require less manpower to operate. There is no easy answer, there is only a process that must be engaged.
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China has stated they will tighten the grip on Pollution, and develop stronger environmental controls. I guess we can wait to see how the aim for money will "delay" many of those implementations.
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