用户名:   密码:



Beijing struggles to curb poverty and pollution as it keeps markets open
译者:unknown     发布时间:2018-06-04     超过 0 位网友阅读



There is a steel toboggan run offering rides down the side of the Great Wall of China that would fail the UK’s most basic health and safety tests. It could be a metaphor for the Chinese economy if as many people believe Communist party leaders allow a credit bubble to run out of control in a desperate attempt to maintain an electrifying 7% growth rate. 



The Chinese are not alone when they turn a blind eye to excessive borrowing. Most nations depend on large and growing amounts of borrowing to fund everything from investment to the most basic services. In China’s case much of the debt is being used to offset the transition from a state that manufactures iron steel and cheap electronics textiles and consumer goods to one that embraces hi-tech industries attuned to environmental concerns. This creates millions of losers in traditional smoke-stack industries lots of them in the north and west of the country.


It’s a story that is familiar in Europe where governments spent the 1980s racking up huge debts to support dying industries while the UK spent its oil revenues funding the unemployment benefits of steelworkers and miners. But the scale of China’s industries is such that when a transition is under way the borrowing is colossal and the threat to the rest of the world is unnerving.


The International Monetary Fund warned last week that the debt building up in China’s state-owned industries was a threat to the country’s stability. Private debts are also stratospheric mainly from a property boom that has left many people with sky-high monthly mortgage payments or dizzying rents. Erik Britton director of Fathom Consulting an economic consultancy says he is concerned that China’s debt-fuelled growth is building towards a major crash some time in the next five years.

国际货币基金组织上周警告说,中国国有工业的债务积累对国家的稳定构成威胁。 私人债务也是也是同样的情况,它主要来自房地产热潮,给许多人带来了高额的月付按揭和令人眩晕的房租金额。据华顿咨询(Fathom Consulting)——一个经济咨询公司的主管艾瑞克·布雷顿(Erik Britto)称其担心中国债务的持续激增将会在未来五年内酿成大祸。

Diana Choyleva a China expert who runs Enodo Economics a consultancy says that in answer to the growing crisis the Communist party is exerting greater influence over indebted state-owned industries ending a long period when competition with foreign companies was considered a solution.

经营nodo Economics公司的黛安娜·乔伊列娃(Diana Choyleva)是一个中国问题专家,她表明为应对日益严重的危机,中国将与国外公司进行竞争作为长期债务结束的解决方案,这将使它(中国)对负债累累的国有企业发挥更大的影响力。

In August Reuters reported that more than a dozen top European companies operating in China had met to discuss their concerns about the growing role of the party in joint ventures with state-owned enterprises. One executive told the news agency that party officials wanted state-owned enterprises to have the final say in joint decisions and allow the local party secretary to be the joint venture chairman.


Choyleva believes that Beijing’s challenge over the next couple of years is to exert more control to deal with bad debts built up by state-owned enterprises without scaring off foreign banks and joint venture partners which could take on some of the debt themselves.


Keith Burnett vice-chancellor of Sheffield University is a regular visitor to China and a mainstay of UK delegations to Beijing. He says he is struggling to persuade UK businesses to enter joint ventures with Chinese partners despite the obvious opportunities of selling to a country of 1.4 billion people.

谢菲尔德大学副校长基思·伯内特(Keith Burnett)是中国的常客,也是英国驻北京代表队的支柱。 他表示,尽管有将(企业)卖给14亿人口国家的大好机会,他正在努力劝说英国企业与中国成为合作伙伴进行合资企业。

“There is a real push at senior levels in Beijing to get manufacturing higher up the value chain. They know they need to expand in aerospace electric cars pharmaceuticals. This is coupled with a worry that many people are being left behind in steelworks and basic manufacturing plants.

 “北京的高层人士真的推高了制造业在价格链上的价值。 他们知道自己需要在航空航天,电动汽车和药品等方面进行扩张。 不过他们也存有很多人将被遗弃在炼钢厂和基础制造厂里的担忧。

“British companies are fearful they will lose their intellectual property. They are happy to sell their wares in China but they say ‘we don’t want to share information with you if it means losing our crown jewels’” he says.

 “英国公司害怕他们将失去知识产权。 他们很高兴在中国卖他们的商品,但他们说“如果这意味着失去我们的皇冠上的珠宝,我们就不想和你分享信息”。

However a courts system that offers an independent arbitration service seems a distant prospect. Companies remain sceptical about their hopes of pursuing intellectual-property theft claims; foreign investors are wary of buying the shares and bonds of companies that might arbitrarily be declared bankrupt. It is the courts that hear bankruptcy petitions and Choyleva says there is little consistency over why some are declared bankrupt and others not.

然而,提供du立仲裁服务的法院制度似乎是个遥远的前景。 公司对于追究知识产权盗窃的索赔仍然持怀疑态度。 外国投资者对在购买那些可能会宣布破产的公司的股票和债券上十分谨慎, 法庭会受理破产申请,Choyleva说,为什么有些公司被宣布破产,而另外一些公司则没有,(法院的受理结果)很不一致。

In 2013 the party’s third plenum reform statement said the market should play a “decisive” role in resource allocation while reaffirming that the state must play a “leading role” in the economy. It seems clear that as the population gets older and generating previous levels of growth gets harder the state is grabbing back key levers of power. The market is still useful but difficult times and competing aims call for more direction from the centre. Somehow Xi must keep raising 10 million people a year out of poverty promote a green economy and open Chinese markets to foreign competition and collaboration. It appears that the first two are incompatible with the third.

2013年,党的第三次全会改革声明说,市场应在资源配置中发挥“决定性”作用,同时重申国家必须在经济中发挥“主导作用”。 很明显,随着人口的老龄化和维持先前的增长水平越来越难,国家正努力抓回权力的关键杠杆。 市场依然有用,但艰难时期再加上目标冲突,意味着中央必须发挥更大的指导作用。 不管怎么说,中国必须每年使千万人口脱贫,促进绿色经济,开放中国市场与国外竞争与合作。但看起来前两个论述与第三个不兼容。

thegreatfatsby 2d ago
Growth growth growth. Nothing grows forever. Not even the universe. To imagine that global capitalism can continue to grow on a planet with finite minerals space water and land is the height of lunacy.


Alan Rowe  thegreatfatsby 2d ago
The bit about the universe is an unknown no matter how conceited science has become.As for growth well even life itself demands this surely ?China’s debt is internal it is a stress on itself.The US is approaching $ 20 Trillion if debt most of this is held by US institutions. The other rarely talked about side of this coin is the US is owed $17-18 Trillion.Debt is often used to manipulate people even the poor old UK is owed £ 2.5 Trillion yet all we hear on the news is the staggering national debt.It is indeed a funny old world !


PonyBoyUK  thegreatfatsby 2d ago
Apparently they would call you the naïve left; that you're living in a bubble....


It helps them sleep at night...


FTWftw  vonZeppelin 1d ago
I'd say we're in the process of doing that. Have you noticed the state of this planet? It's in the process of sending us to extinction.


vonZeppelin  FTWftw 1d ago
State? Where's the benchmark? It's polluted possibly but who says it means the end of mankind?


JeanClawedBrexit  Alan Rowe 1d ago
Who owes the UK £2.5tn ?
Do they owe it to the UK government or private interests ?


Argent61  thegreatfatsby 1d ago
Global business will hollow out the planet before it will stop its blind pursuit of profit. We should leave a share of the Earth's resources for future generations.


FTWftw  vonZeppelin 1d ago
I suppose you could call the benchmark how it was before we industrialised..possibly polluted?? It is without doubt horribly polluted. 
Something's going to end us cause nothing lasts forever. Running out of resources. Climate change effects over the next 50 years and our capacity for stupidity are all pretty good candidates to be that cause.


globalgypsy  thegreatfatsby 1d ago
To imagine that global capitalism can continue to grow on a planet with finite minerals


Fortunately living in an infinite universe we are not limited to the resources of Earth alone.


LordMorganofGlossop  Argent61 24h ago
The 'blind pursuit of profit' has helped enable you and I to have plentiful cheap consumer goods - such as the computers we type on - and it provides jobs across the world and also generates tax receipts which fund our welfare state and public services.


gtegte  Alan Rowe 22h ago


Social security debt and medicare in the US is $220 trillion on top of the borrowing
State and civil service pensions are £10 trillion on top of the £1.5 trillion borrowing.


So lets see. US defaults on its borrowing. What effect on China? Lots of Chinese savings disappear.
US puts trade sanctions in and you have 10 20 million Chinese unemployed overnight. Stock market tanks savings go and you have massive instability.


Equally look at buildings at night in the new towns. No lights. All built on debt. China has the weak hand.
So your £2.5 trillion for the UK what debts are those and what's your source? My bet is that the big debts are excluded.


GutsandGlory 2d ago
Party leaders have allowed a massive state and private sector borrowing binge


A policy that history reveals is as naive and selfish as it is ruinous well for those who are left to pick up the pieces. When Corbyn's crack squad implement their "new politics" (new to anyone under the age of 40 perhaps but an old failed ideology nonetheless) it will be the exception I'm sure and definitely work this time there are chants and all sorts.


(注:杰里米·科尔宾:立场较为激进,是英国工党著名的“老左派”,现任工党党魁, 主张国有化,反对君主立宪制)

LondonEpicurean  Gelion 1d ago
We’re all a lot richer than we would have been 40 years ago. Free markets have lifted billions out of disease and poverty. Socialism invariably fails when people realise they will not receive the true value of their labour they stop working. So how do you make them work? By force. Socialism leads to death. Yippee.


Argent61  LondonEpicurean 1d ago
In today's terms Epicurus would have been deemed a socialist.

(注:伊壁鸠鲁(希腊文:Z4;π^3;κουρο`2;,英文:Epicurus,公元前341 - 前270年),古希腊哲学家、无神论者(被认为是西方第一个无神论哲学家),伊壁鸠鲁学派的创始人。他的学说的主要宗旨就是要达到不受干扰的宁静状态,并要学会享乐。)

LizCardiff  LondonEpicurean 1d ago
Rubbish. No city streets were full of homeless. Young people had the chance of further and higher education with no debts and the chance of paid apprenticeships with skilled well paid jobs at the end of their training. Also other full time jobs were plentiful and did not have to be subsidised by the state.


Renting rooms or houses was easily affordable for anyone in work or training and buying a house was something that we all could do if in full time work in our early twenties.


I know. I was there.


FTWftw  LizCardiff 1d ago
Globalisation and overpopulation are the reasons things are not like that now.


russian  FTWftw 1d ago
Nearly 50% of our politicians/government are private landlords. They're quite happy with the status quo re housing.


HappyExpat50 1d ago
Just China ?


Is this phenomenon not endemic throughout most of the World ?
What is the cause of this phenomenon ?
That magic word '' Growth ''


How are the magicians that conjure up this magical illusion of '' Growth ''


The World Bank The IMF Central Banks et al.


Picture starting to come into focus yet ?


What does that '' Growth '' require ?
Rampant Capitalism which in turn requires rampant Consumerism which in turn requires rampant population growth which requires rampant debt when cold hard cash runs out.
Which all makes a complete mockery of the fake fight against Climate Change.
You cannot fight Climate Change whilst demanding growth.


FTWftw  HappyExpat50 1d ago
You can't fight climate changewith over a billion people having a high standard of living. Nor by getting the poor of this world out of poverty.


BruceMullinger  HappyExpat50 1d ago
One day mankind will understand the folly of perpetual growth.


LordMorganofGlossop  HappyExpat50 1d ago
What do you mean by "growth" though?! Why is growth bad now all of a sudden - it's been the motor of progress throughout our history (the industrial revolution for example).


How can environmentalists green lobbyists or political parties sell us 'anti-growth' policies if they cause reduced standards of living less jobs worse public services etc?


匿名发表  用户名: 密码: 验证码:

英国译帖 - 热门推荐
双语美文 - 阅读榜
英国译帖 - 最新收录
国外优秀论坛 - 为您推荐
经验分享 - 阅读榜