Dear Mrs. Madeleine Korbel Albright,
Mr. Kofi A. Annan,
President Jiang Zemin has for several years campaigned stridently
State-controlled media regularly report cases of government
officials imprisoned or executed for corruption.
However; there's nothing to stop the corrupt officials, the
state-controlled news media are limited in their ability to
In communist China; a backward legal system and political power
concentrated in few hands gripes about corrupt officials are
common in China. But a daring author has taken the
complaints a step beyond blaming the political system that allows
sleazy bureaucrats to get rich at the expense of ordinary people.
He Quing Lian's book punctures government propaganda built
up during China's celebration of the 20th anniversary of economic
reforms that moved the communist nation toward a market economy
and urged Chinese to become wealthy.
Her book, the pitfalls of modernization, also hits a nerve
because a large population of people are still poor and resent
officials who profit from special privileges. "Most
got rich through corruption, and not by producing anything"
he said in an interview.
Economic reform is not enough for communist's system. The competition
of democratic free economic system; is the only way for terminal
In our view; Beijing leaders know devaluation would itself
be painful, particularly for companies importing raw materials,
and machinery overseas conventional wisdom among reasoned China-watcher
in Hong-Kong. Learned, no doubt, with large dose of domestic
market the Renminbi's lack of total conventibility and Beijing's
tight control of the financial system will enable China to escape
most of the fall out from the crisis ravaging the rest Asia
or at least so goes the argument. But the reality is that China
can no longer isolate itself from global economic forces.
Beijing need your observation in which concerning about mainland
financial crisis in the near future.