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Politics : War -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (676)	1/21/2001 1:02:40 AM
From: Rolla Coasta	Read Replies (1) \| Respond to of 23908

After NATO's Chinese Embassy Bombing, China Responds with High-Tech Defense Spending Increase chinaonline.com (6/8/99) China is calling for a dramatic increase in high-tech defense spending in the wake of the "surprise attack" on the Chinese embassy in Belgrade, the June 2 Zhongguo Jingji Shibao (China Economic Times) reported. An analyst from China's State Council Research and Development Center, Dr. Wei Jianing, issued the call at a May 31 seminar on "Innovations in Science & Technology, Investment Risk and the National Defense" sponsored by the Chinese Academy of Sciences' Investment Risk and Science & Technology Research Center. Dr. Wei proposed the government boost military spending, diversify funding channels for high-tech defense development, accelerate military R&D and devise a technology transfer mechanism between the military and the civilian economy (to take advantage of product spin-offs). Dr. Wei's recommendations were based on his analysis of the global and domestic political and economic situation after "USA-led NATO" bombed the Chinese embassy, the newspaper reported. The seminar was attended by 30 specialists from China's General Equipment Department, the State Development Planning Commission, the People's Bank of China, the Chinese Academy of Sciences, the Chinese Academy of Social Sciences and the State Council. The main topic of discussion was how to integrate the military industrial complex with the civilian economy. One group of specialists proposed the best way to foster high-tech development in the civilian economy is to increase defense spending. This would boost demand for high-tech R&D which would in turn foster scientific and technological innovations in the economy as a whole. Once military spending goes up, the only other problem to address would be how to go about funding the high-tech R&D startups. The specialists advised the government to look into this immediately and recommended that a "multiple channel" approach be adopted with regard to financing development of dual-purpose technologies (with both military and civilian applications). Other seminar attendees pointed out that boosting military spending is also a low-cost way of increasing production and providing more jobs. It was also posited that the creation of a high-tech defense industry would reduce competition between large state-owned enterprises (SOEs), village and township enterprises and private enterprises for the same pool of low-tech, low-cost defense goods. SOEs would concentrate on the manufacture of high-end, sophisticated defense goods, leaving locally-owned and private companies to produce low-tech items. See related article(s): Shanghai Stock Exchange to Introduce New Index to Track High Tech Growth in China China's Five Military Corporations are Each Split in Two to Foster Competition