Understanding China, One Blog at a Time

An American in China

Archive for March 3rd, 2010

Beijing

Posted by w_thames_the_d on March 3, 2010


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3 March, 2010 13:58

Posted by w_thames_the_d on March 3, 2010


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China’s Best- Qing Dynasty’s Dynasty- China Fact

Posted by w_thames_the_d on March 3, 2010


Peking University one of China’s best was created by the last dynasty, the Qing, in 1895.

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No Class- China on Confucius

Posted by w_thames_the_d on March 3, 2010


Ancient china was influenced by Confucius, who hadnt set up universities but small schools- like family gatherings, in which to teach.

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90% of China’s Billionaires are Children of High Ranking Officials

Posted by w_thames_the_d on March 3, 2010


Here:

In China, discussions about the business dealings of the ‘princelings’ or taizidang -offspring of political leaders -are considered taboo. People might whisper about them over dinner tables, but will never discuss them in public.

Some princelings, such as Vice-President Xi Jinping, become public figures after being drawn into politics, but their counterparts in the corporate world shy away from the limelight. Nevertheless, they are a force to be reckoned with.

A 2006 study by several Chinese research institutions showed that almost 90 percent of the country’s top leaders in sectors encompassing finance, foreign trade, property development, construction, and stock trading were princelings.

And about 90 percent of China’s billionaires are the children of high-ranking officials.

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Porn isn’t the only thing they are blocking- China’s President’s son investigated for Corruption

Posted by w_thames_the_d on March 3, 2010


The Princelings” and China’s Corruption Woes”

» August 5th, 2009 7:33 am by Catherine Tai

Last week, the Communist Party’s Propaganda Ministry blocked all internet keyword searches relating to a Namibia corruption investigation involving a firm by the name of NucTech. NucTech, as it so happens, was led by Hu Haifeng, the 38-year-old son of President Hu Jintao, until his recent promotion to party secretary of Tsinghua Holdings, a conglomerate that oversees state-held high-tech firms (including NucTech) that have been spun out of the prestigious Tsinghua University. According to a news article in AFP Nuctech won a $55.3 million Namibian contract for airport scanners in 2007. Namibia’s Anti-Corruption Commission recently discovered that $12.8 million of payments for this work were diverted from Nuctech to Teko Trading, a Namibian consulting firm. This has resulted in speculation that Teko Trading helped NucTech win the large government contract through bribery.

Observers note that when Chinese companies embrace globalization, they often continue the murky practices – bribery, kickbacks, extravagant banquets – that are so familiar at home. Indeed, in China, money and political power often go hand in hand with wealthy businessmen relying on their close bonds with powerful politicians. In December 2006, for instance, Junior Hu’s NucTech won a multi-million dollar contract with China’s aviation authority to supply security scanners for all the 147 airports in China due in large part to strong political backing.

The attention brought to this case has focused the media spotlight on the unfair privileges of the “princelings” – the offspring of the Communist Party elite. Many of these princelings went into business as the country started to open up, enjoying positions at the top of large state-owned-enterprises controlling much of the country’s resources. For example, the son of current Premier Wen Jiabao, Wen Yunsong, is CEO of Unihub Global Networks, a large Chinese networking company. The daughter of former premier Li Peng, Li Xiaolin, is chairman of China Power International Development Ltd., an electricity monopoly. Li’s son, Li Xiaopeng, was chairman of state-owned Huaneng Power International, the country’s largest independent power company, until his promotion to Deputy Governor of Shanxi Province. Most (in)famously of all, Jiang Mianheng, son of former president Jiang Zemin, controlled a telecommunication empire when senior Jiang was in power. While several corruption investigations indicated his involvement, he and the other princelings appear to be beyond the reach of the legal apparatus.

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70% of Assets in China owned by 0.4% of the People- Maybe Dog will be Back on the Menu

Posted by w_thames_the_d on March 3, 2010


From the Same blog as the previous one:

"…An article in Nandu Daily, The same Nandu article notes another study which indicates that a tiny 0.4 percent population controls 70 percent national asset in China, no doubt among the most striking ratios in the world."

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91% of Multi-millionaires in China are offspring of Communist Party Elite!

Posted by w_thames_the_d on March 3, 2010


Great blog here:

excerpt:
An article in Nandu Daily, one of China’s most liberal and popular news outlets with a circulation 1.7 million, reports that 91 percent of multi-millionaires are the offspring of the party elite according to research from the Chinese Academy of Social Sciences. The growing affluence of this group follows the wider national trend of the growing disparity between the poor and the rich.

My take is that it seems odd that the kids of people who make around U$36000 per year can amass such wealth, can anyone say ‘corruption’?

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Princelings- Choosing Successors and Making money in China

Posted by w_thames_the_d on March 3, 2010


"Since the CCP came into power, in order to secure their hold, their top leaders have been paying great attention to the problem of selection of "successors." A tiny percentage of their former subordinates and many children of the top CCP leaders–the princelings–have been chosen as candidates. The princelings, beginning from a young age, have enjoyed various kinds of privileges, from attending the top universities to choosing the best occupations. After a period of training and practice, many of the princelings have been promoted to heads of CCP organizations or to heads of important government departments. Today, the leading members in the CCP central committee, the top-level central government officials, the highest-ranked military officials, the heads of the provincial governments and the heads of the major state-owned enterprises, except for a very tiny percentage, are all members of this privileged class.

Although a privileged group member may be incompetent and may have low IQ, his position nevertheless makes him an important figure in political and economic affairs. To the paramount CCP leaders, he is their reliable representative in a state department or in a local region of the country, monitoring the public for them; to the ordinary people working in his department or living in his region, he is the law.

The state grants him many special benefits in exchange for his loyalty, providing him and his family with cars and drivers, nurses and housekeepers, and even paying most of his expenses, although his salary is much higher than any ordinary employee. While these high-ranked off icials firmly control the power of making decisions, many of the real administration duties are actually done by their secretaries and their subordinates. Thus what they exploit from society by far exceeds what they actually contribute to it. We will refer to this as implicit corruption. We call this "corruption" because it leads to social unfairness and destroys economic efficiency. We use the adjective "implicit" because the utility received by a privileged group member to some extent reflects his important role in decision making, given a CCP political and economic environment."

Posted in Big brother..., China Fact, Cultural oddities, Let me educate you..., News From China- Whats hot | Leave a Comment »

200 Workers Die Per Day in China Due to Accidents

Posted by w_thames_the_d on March 3, 2010


Yeah, 200 per day day, and we do nothing. Remember when everone boycotted Nike as they employed little kids to sew soccer balls. This to me seems a little worse…

excerpt:
In 2009, 83,196 people died from accidents in China, or more than 200 deaths a day, Huang Yi, spokesman for the State Administration of Work Safety, told Xinhua on Tuesday .

Throughout the past year, the country witnessed 380,000 accidents, or more than 1,000 a day, said the official.

Posted in China Fact, Cultural oddities, Let me educate you..., News From China- Whats hot, Ranting in general | Leave a Comment »