Ramping up its export juggernaut and taking full advantage of WTO entry, China’s economy in the first decade of the new millennium was “boom with no bust.” The information revolution fed more growth, as hundreds of millions of Chinese came online. But the Internet also became a forum for discontent, and the new leadership team of Hu Jintao and Wen Jiabao acknowledged growing environmental and social justice concerns with their call for a more harmonious society. Then, as the credit crisis in the US spread into a global economic crisis, China’s export-dependent growth appeared in jeopardy, and fears of a Chinese crash surfaced. But, as in 1998, China weathered the storm, and emerged in 2010 as the world’s largest exporter, largest foreign creditor, and fastest growing major economy, poised to soon surpass Japan and eventually eclipse the United States as the biggest economy on the planet.
Mao Yushi, is the chairman of Beijing's Unirule Institute of Economics. In 1958, he was labeled a rightist and later was sent to labor at the Datong Locamotive factory during the Cultural Revolution. In 1975, he started research in Macroeconomics and in 1979 he worked out the mathematical method of the Principle of Optimal Allocation. Professor Mao currently holds various titles including: certified consultant for the Asia Development Bank; consulting editor for the China Economic Review; and Honorary Professor at Mineral College in Shandong, Foreign Language and Trade University in Guangdong, and Northwest University in Xi'an. Professor Mao has run a poverty alleviation mini-credit foundation in Shanxi since 1993, and a Vocational Training School since 2003 for rural girls seeking employment in Beijing. Mao’s areas of research focus on institutional economics, energy and environmental economics, transportation, policies on economic reform and poverty alleviation.
We have an expression, "after 80s," which refers to people who were born in the 80s, twenty-somethings or thirty year olds. Today, these people are making up a larger and larger portion of the population. These people have no concept of what China was before. They complain a lot about the current situation, about social justice, social disparity between the rich and the poor, corruption; they are quite angry about these things. This is one cause of social instability. At the same time, the government conceals the details of past events. These "after 80s" have no idea about the three years of famine which has caused the deaths of 30 million people. Only a few people know about this huge event that the government prevents people from learning about, so the younger generation thinks that life under Mao was better. This is a very dangerous thought. The fact that the government conceals the facts about, not only the three years of famine but, a lot of important history from the people is a big problem in China. It is very dangerous that these people believe that things were better in Mao Zedong's time. This is a big problem that China is facing. The Chinese government doesn't tell the truth. Nobody trusts them. Foreigners don't trust them, the general public doesn't trust them, that's why, when the Chinese government, such a powerful group of people, negotiates with Dalai Lama, a single person, they cannot get what they want. Because they always lie, nobody trusts them. Not only in the international community, but also within China, nobody believes the Chinese government. This is a political crisis. Prime Minister Wen encourages people to tell the truth, but the atmosphere is not favorable for people to tell the truth. He, himself, does not dare tell the truth either. Let him try, he won't tell the truth about the Tiananmen incident. Nowadays, it is so dangerous to tell the truth in China and it is this atmosphere that creates a lot of problems. It's very hard to predict what lies ahead for China. How can a government for which its people have no trust continue to function? Although the economy has developed, improving people's lives, if there were no economic development, the Chinese government would have already collapsed. The Chinese government has been successful in terms of economic development, but has failed spectacularly in the protection of individuals and in setting a common goal for the people.
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