After the happening of the 2007-2008 global financial crisis, a number of economists and even famous businesspersons had predicted that the next global crisis would stem from China because of the fear about the slower economic growth, large fiscal deficits and real estate bubble. For example, as early as 2013, Hong Kong property tycoon Li Ka-shing had been selling his assets in mainland China and Hong Kong and moved his family wealth to UK. Many believed that Li’s withdrawal from China showed the market fear of a possible hard landing of the Chinese economy. However, similar to the fact that economists always failed to predict a financial crisis, China is actually NOT on the edge of a financial crisis for the below reasons:-
35 years after China placed strict limitation on its population growth by adopting the so-called one-child policy (initiated in the late 1970s), China has finally abandoned one-child policy and substituted it with a two-child policy which allows the married couples in China to have up to 2 children starting from Jan 1st, 2016. According to the government statistics, the implementation of the stringent birth control policy has effectively prevented over 400 million births (allgirlsallowed.org 2016). The falling of fertility rates has contributed greatly to the economic miracle in China during the past two decades. Why China abandons its one-child policy now?
In August 2015, the People’s Bank of China announced a surprising decision to depreciate the Chinese Yuan by 2% against the U.S. dollar. The central bank said in a statement that “The reform of Chinese Yuan exchange rate formation mechanism will continued to be pushed forward with a market orientation, the market powers will play a bigger role in exchange rate determination to assist the balancing of international payments” (cnn.com 2015).
Beginning in the early spring of 2011, the Syrian Civil War which is a multi-sided armed conflict with international interventions has caused one of the biggest refugee crisis. As a result, approximate 5 millions of Syrian people left their country seeking for better security in other countries and Europe. The rush of refugees into Europe also lead to various social problems including xenophobia, crimes, nativism and etc.
Last year, Chinese President Xi Jinping addressed at the opening ceremony of the Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC) and announced that China will roll out 10 key programs with its African counterparts to strengthen tie with Africa in the later 3 years. One key program is that China-Africa peace and security program, China will denote 60 million U.S. dollars to the African Union to build and train its army, both its regular army and crisis response, as well as assisting UN peacekeeping in the continent.
As of 2015, People’s Republic of China has held 15 times of national military parades in Beijing’s Tiananmen Square. The most recent one was carried out on 3rd Sep 2015 to celebrate 70th Anniversary of the World Anti-Fascist War and War of Resistance Against Japanese Aggression. China’s national wide military parades happened in the below years:-
Pterosaur (Yi-Long or Yilong, 翼龙) is a low-altitude, military-civilian dual-use and long-endurance Chinese UAV developed by AVIC (Aviation Industry Corporation of China). Pterosaur is equipped with reconnaissance device, laser light, electronic warfare equipments, light space-based strike weapons (SBSW), the UAV can be tailored to various missions such as peacekeeping, anti-terrorism, border patrols as well as disaster monitoring and atmospheric research.
Today, the The Third Plenary Session of the 18th Central Committee of the Communist passed a “Decision” in which the long existing and highly controversial “re-education through labor system (laojiao)” is announced to be abolished as part of a major effort to protect human rights.
The Third Plenary Session of the 18th Central Committee of the Communist decided to set up a new “State Security Committee”, which is expected to play a very important role in China’s internal and external security affairs. Its main functions include:-