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China’S Commitment To Growth Will Drive The Global Economy

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Gordon Brown was Prime Minister of the United Kingdom from 2007 to 2010. He is currently the UN Special Envoy for Global Education. His opinions are his own.

http://blogs.reuters.com/great-debate/2013/09/12/chinas-commitment-to-growth-will-drive-the-global-economy/

From outside China, the Bo Xilai trial looks like the Chinese news event of the year, one of the preoccupations of Western media, along with corporate corruption and the clampdown on American and European companies. Yet these issues are no more than sideshows to the most important economic event of recent times, the unveiling and ratification of a major program for reforms for the next decade, which will occur at the Chinese government’s third plenum in November. The reforms promise to bring another great leap forward in China’s dramatic ascent.

Chinese officials will reveal how long China will need to make the transition from an investment-led, middle-income country to an innovative, consumer-driven, high-income one — and thus when it will become the world’s largest economy. Can China circumvent what we know as “the middle-income trap” that has for decades denied high-income status for Latin America and Asian countries like Malaysia and Thailand?

The challenges that China’s new leadership faces in pushing for rising levels of innovation, entrepreneurship and skills will be the main discussion points this week at the New Champions summit in Dalian, China, organized by the World Economic Forum under the leadership of executive chairman Klaus Schwab. The summit recognizes the important truth that China’s degree of success will determine global growth: it will determine whether the twenty-first century will be the Asian century, and whether by mid-century Asia — which not long ago represented just 10 percent of the world economy — will represent half or just a third.

..

Now with the third plenum focusing on China’s next challenge — the shift to a high-productivity, high value-added, consumer-based economy — the aim is to double average incomes by 2020, to achieve 70 percent-plus urbanization by 2025 and to have the world’s largest supply of graduates. If it succeeds, China will quickly surpass America as the world’s largest economy. By 2025 it will probably move from middle-income status to high-income status and make around 1 billion of China’s 1.3 billion population “moderately prosperous” middle-income citizens on their way to realizing what President Xi Jinping has called the “Chinese dream.”

And all based around faked and manipulated data with at least 64m empty properties.

Still Gordon saved the world so we all know we are in safe hands.

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Only an un-elected globalist could possibly speak good of the fact that a merciless and cruel autocratic committee is at the helm of global recovery. The real message behind the spin is that you're all going to be like Chinese workers when the bankers and technocrats have finished demolishing what was left of democracy. Enjoy the illusion of wealth that your high house prices bring while you can, and watch as your grandchildren become serfs.

Edited by Pindar

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Only an un-elected globalist could possibly speak good of the fact that a merciless and cruel autocratic committee is at the helm of global recovery. The real message behind the spin is that you're all going to be like Chinese workers when the bankers and technocrats have finished demolishing what was left of democracy. Enjoy the illusion of wealth that your high house prices bring while you can, and watch as your grandchildren become serfs.

Quite, no mention of the pauperization of the large parts of west that is nececessary for the chinese to become even relatively rich. Second stage of their progress into higher value markets well on its way, wonderfully assited by debt driven misallocation of money for which the likes of brownhole must be congratulated.

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