Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1335)	11/10/2003 7:35:53 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

More on Wen Jiabao's task and Zhu Rongji's legacy: What Wen is doing right now is trying to correct some Zhu Rongji's mistakes: 1. Zhu has been famous for high state revenue income. This has been done at the expense of millions of XiaGang (a form of unemployment with minimal social security income) workers in cities. And also at the cost of Chinese farmers. Plenty of local gov. brutally taxed farmers, and caused social instability. These local gov. were complaining that the Central gov. took away their income, so they have no choice but heavily tax farmers. 2. Zhu has strongly supported large SOEs, but ignored small enterprises owned by local governments. 3. Zhu has underinvested in education and health care. 4. Zhu has overemphasized the GDP growth rate, thus resulting in too much fixed asset investment (example: the current real estate bubble), but hardly any investment in much needed service and manufacture sectors. Wen has promoting the revitalization the manufacturing industry of three Northeast provinces.