CRI 中国国际广播电台 2010-03-20

Hello and Welcome to News and Reports on China Radio International.

In This Edition:

Analysts 1 warn the United States that any move to put additional pressure on China to revalue the Renminbi will only hurt American consumers and the overall global economic recovery.

China will export advanced high-speed railway technologies around the world, and plans to connect the country with other parts of the world through new high-speed rail links.

US Secretary of State Hilary Clinton says Washington and Moscow are making "substantial progress" in negotiating a deal to replace the expired treaty on limiting their strategic nuclear arsenals 2.

And the Chinese government is set to knock some state-owned enterprises out of the real estate sector 3 in this country, as their land purchases are blamed for fuelling the rise of urban housing prices.

Hot Issue Reports

Renminbi Revaluation will Harm the Interests of US Consumers and the World Economic Recovery

Both Chinese and foreign analysts are now warning the United States that any move to put additional pressure on China to revalue the Renminbi will only hurt US consumers and the overall global economic recovery.

Li Ningjing has more.

Reporter:

Some U.S. senators have proposed legislation to press China to allow an increase in the value of its currency. The bill threatens China with duties on some of its exports, and pressures the Obama Administration to label China a currency manipulator.

Jim O'Neill, Chief Economist 4 of Goldman Sacks, says the move is unjustified based on his research.

"The model that we used, I created 15 years ago, suggests that the Renminbi used to be undervalued. But actually it isn't particularly undervalued anymore. I think it's rather unfortunate that we have so much political angst around this issue persistently 5."

Some U.S. politicians have long alleged 6 that the Renminbi exchange rate is a key factor behind the trade imbalance between China and the U.S. They claim that the currency's exchange rate is undervalued, which has benefited China's exports.

But Yi Xianrong, a researcher at the Chinese Academy of Social Sciences, says a possible rise in the Renminbi's exchange rate will harm the interests of U.S. consumers.

"The products that China exports to the U.S. are mainly daily necessities for American consumers. The low-priced and good-quality Chinese goods have reduced the cost of living for common U.S. citizens. If their prices go up due to revaluation of the Renminbi, the U.S. consumers will be faced with higher costs of living."

He adds that Renminbi revaluation will also have a detrimental 7 effect on the recovery of the world economy.

"The key problem of the world financial market is that it faces many uncertainties 8. So a stable Renminbi is very important to the stability of the international financial system and the recovery of the world economy. Substantial fluctuations 9 of the currency's exchange rate will bring about additional uncertainties and harm the rebounding 10 world economy."

Yi Xianrong says that the U.S. should lift its control on the exports of high-tech 11 products to China if it really wants to solve the trade imbalance problem.

The U.S. Treasury 12 Department will decide whether to label China as a currency manipulator in mid-April.

Li Ningjing, CRI news.

China to Export High Speed Railway Technologies

Chinese railway officials now say they're planning on exporting their advanced high-speed railway technologies around the world, while at the same time are reportedly getting ready to connect China with other parts of the world through new high-speed rail links.

Zhao Yang has the details.

Reporter:

Wang Zhiguo, vice 13 minister of railways, says dozens of countries have shown interest in cooperating with China to build high speed railway networks. And state-owned Chinese companies are already building high-speed lines in Turkey and Venezuela.

The United States is also among those interested in cooperating, with American company General Electric cooperating with Beijing on technology to modernize 14 America's rail network.

U.S. President Barack Obama has pledged to spend eight-billion U.S. dollars for rail projects including the high-speed systems in California, Florida and Illinois.

Wang Zhiguo says Chinese companies are interested in bidding for contracts of building these networks.

"The Railways Ministry 15 has organized related companies to take part in bidding, and it has a signed memorandum 16 of cooperation with the railway authority in California."

The official says China has also reached agreements with Russia and Brazil on cooperation projects, while further preparation and research is still underway.

"Based on the principles of mutually beneficial and win-win cooperation, China wants to share our advanced and mature technology with other countries to promote the world's high-speed railway development."

Professor Jia Limin, the Chief Scientist for the State Key Lab on Railway Traffic Control and Safety, says that the Chinese high speed railway technology is an integration 17 of the existing advanced technologies with home-grown ones.

"Only such kind of technology proved in China could be suitable for the application of high speed railways in countries such as Russia and the US, because they have the same features (as China), (like) a large territory, a large variation of weathers. That's why the high speed technology used in China could be worldwide applicable."

Meanwhile, it's reported that China is planning on high-speed rail networks in the next decade between China, Europe and Asia, by which train passengers will be able to travel to Beijing from London's King's Cross station in only two days.

A member of the Chinese Academy of Engineering was quoted as saying that negotiations 18 have already started with 17 nations affected 19 by the projected networks.

The news hasn't been confirmed by any official sources and it is not clear how the massive project will be financed. If it is carried out, the project is likely to be the largest infrastructure 20 construction in history.

Zhao Yang , CRI news.

New US-Russia nuclear deal 'soon' says Hillary Clinton

US Secretary of State Hilary Clinton now says that Washington and Moscow are making "substantial progress" in negotiating a deal to replace the expired treaty on limiting their strategic nuclear arsenals.

Clinton spoke 21 in Moscow during a two-day visit for talks on a range of international issues, after a one-on-one meeting with her Russian counterpart, Sergey Lavrov.

"We are making substantial progress on the new START treaty. That's the word from my negotiators in Geneva and the results from the latest negotiating rounds lead us to believe we will be reaching a final agreement soon".

Clinton has also urged Russia to delay launching Iran's nuclear plant until Tehran proves that it is not pursuing atomic weapons.

However, Lavrov says Russia still plans to go ahead with the project.

"This is an object which is under the total guarantee of the IAEA and which plays a very important role. Bushehr plays a special role in providing the presence of IAEA in Iran and in providing a discharge of obligations by Iran under a non-proliferation treaty".

Clinton says Iran is entitled to civil atomic energy, but added it would be premature 22 to go forward with any nuclear project when Tehran has yet to prove the peaceful nature of its programme.

Red-shirt protesters vow 23 prolonged rally

Police in the Thai capital held a meeting Friday to discuss ways to deal with a set of rallies planned for the weekend, which will be scattered 24 around Bangkok.

The planned rallies are set to start mid-morning, and protest leaders will announce where they're heading later on in the day.

Red-shirt protesters, including this man who travelled to Bangkok from Chiang Mai, are now into their 6th day of demonstrations 25, which are aimed at pressuring the government to call new elections.

"They have to dissolve the parliament and hold elections. Let people vote. The people's voice now is strong, they should listen to us. They should not take sides only with their people."

Protesters have been vowing 26 to bring more reinforcement to the capital to put additional pressure on Prime Minister Abhisit Vejjajiva to bend to their demands, but many have returned to their homes.

Although the number of protesters has dwindled 27 from its peak of over 150,000, tens of thousands remain, which is still large for a political protest in Thailand.

Thai Prime Minister Abhisit Vejjajiva Abhisit has said this week that he wants to hold talks with protesters to calm the political crisis, but the protesters -- who include a large number of supporters of ousted 28 former Prime Minster Thaskin Shinawatra -- have rejected his offer, sticking to their unconditional 29 demands.

Light News

Chinese SOEs to be barred from property development

Chinese government is set to knock some central state-owned enterprises, or SOES, out of the real estate sector in this country, as their land purchases are being blamed for fuelling the rise of urban housing prices.

Du Yuanquan, a spokesperson for the State-owned Assets Supervision 30 and Administration Commission, says 78 SOE's whose main business is not in the real estate sector are being told to get out of the business.

BJH/soundbites/0319Du

"We would require certain enterprises to step up business restructuring and gradually pull out of property development after all current real estate projects were finished."

Housing prices in China's 70 large and medium-sized cities grew 10.7 percent in February from a year earlier, and were up 0.9 percent compared to the previous month.

The spokesman does say though that 16 SOE's such as the China National Real Estate Development Group and the China Poly Groupl will be allowed to stay on in the property market, given that this is their main area.

More participants and Higher Turnover 31 Expected in 2010 Canton Fair

The 2010 Canton Fair is set to open in just under a month's time, and a spokesman for it says with more overseas purchasers eying Chinese products, the fair is expected grow this year, after a slowdown because of the global economic downturn.

Chen Chaoren says over 110 thousand purchasers have registered for the 107th Canton Fair as of January, and the exhibition site has to be expanded to meet the increasing demand.

"The China Foreign Trade Center has invested 20 million yuan to renovate 32 the exhibition hall. One thousand stands have been added to make a total of 56 thousand. The exhibition hall takes up an area of over 1.1 million square meters."

Chen adds that the organizing committee has toured 28 countries and emerging markets to promote the fair.

The Canton Fair, considered a key barometer 33 for Chinese trade, will be held from April 15 to May 5 in Guangzhou.

30 Something to Retire?

For many, the idea of retiring in your 30's is a completely impossible idea.

However, as we hear from our Shi Yingying, many young Chinese people are now considering the idea of early retirment, and some are already taken a head-start into their 'golden years.'

Reporter:

Recently, a new lifestyle among Chinese young people is gaining in popularity and has sparked heated discussion. Most of those people actually have good jobs and earn a considerable salary. However they've chosen to quit their jobs and take a long vacation as a way to refresh and recharge.

According to a Beijing News survey, more than 80% of the respondents say they've thought about retiring early, and more than 50% said they wish they could to quit their job.

Xu Wei, a woman in her 30s, has a successful career. But she plans to retire in five or six years' time. She says she needs that time to expand her life experiences, and believes work is not a necessity.

"There are two main reasons that push me to give up the idea of continuing my work. Firstly, over the past few years, the jobs that I have experienced are all busy and stressful. Each of them takes me more than 10 hours out of each day. I feel so tired. I need more time to relax. Secondly 34, last year I was terribly ill and nearly died. After that I had a totally different outlook on life.

She realized that besides work, there are many beautiful things one could enjoy. She shouldn't be trapped to one place, one job.

"I hope I can have the time to enjoy my life. I want to enjoy the beauty of the sunshine, enjoy reading time with a cup of tea, and live in other places for a period. Life should be varied 35. I want to be the architect of my own life. "

Many people agree that heavy work pressures are the foremost reason for them to consider giving up their present job.

No one can resist the temptation of living a leisurely 36 life free of worry. However, to retire at such a young age as your 30s or 40s seems ridiculous to some people.

25-year-old Wang Lingyu is a career woman. She believes people in society should not only think only about themselves. They need to consider their family and society as a whole.

"Having a job is very important. Not only because working can make money, but also because it is a way to show your sense of responsibility. I can't agree with the idea of quitting a job to just do whatever you want. You need to earn money to sustain your family and you need to contribute to society to make it better. For me, quitting your job is kind of like evading 37 your responsibilities. I agree that sometimes people do feel tired and have a lot of work pressures but I would choose to change my job, not give up the idea of having a job."

Work to live or live to work? Wang Shaobin, a researcher at the Chinese Academy of Sciences suggests that the most important thing is to know what you want in your life.

"Many people now have the wrong idea about work and working. The purpose of their work is to work. And that is why they feel unhappy when they are at work. For that reason I suggest they take a break, but not to give up altogether. They can use their free time to find out what they are really interested in, or to rediscover their aims in life."

The expert says when life begins to overwhelm, we should take a moment to let the soul catch up with the body.

No matter how important work is, regardless of how much money one can earn, what we should do is follow our hearts to find the real spirit in our lives.

Mexico Discovers New Oil Deposits

In other news....

Mexico's state-owned oil giant has announced it's found deposits of up to two-billion barrels of super-light and super-heavy oil in shallow waters off the Gulf 38 of Mexico.

The director of Petroleos Mexicanos, Juan Jose Suarez, says the two fields were discovered over the last two years, and are some of the largest disoveries ever made in the Gulf of Mexico.

Mexico's President, Felipe Calderon says a combination of the new discoveries and an increase of production at some of their existing fields should help stem the recent drop in Mexico's oil output.

"For every barrel of petroleum 39 that was discovered, five were used. This brought the company to rapidly use up its reserves. Today the rate of restitution 40 has risen and last year reached 77 percent, which is the highest rate of restitution for Petroleos Mexicanos in many, many years."

Mexican production fell from 3.4 million barrels a day in 2004 to 2.6 million a day last year.

Media Digest/Stock/Weather

From the New York Times: For years, many of China's best and brightest left for the United States, where high-tech industry was more cutting-edge. But Mark R. Pinto is moving in the opposite direction.

Mr. Pinto is the first chief technology officer of a major American tech company to move to China. The company, Applied 41 Materials, is one of Silicon 42 Valley's most prominent firms. It supplied equipment used to perfect the first computer chips. Today, it is the world's biggest supplier of the equipment used to make semiconductors 43, solar panels and flat-panel displays.

In addition to moving Mr. Pinto and his family to Beijing in January, Applied Materials, whose headquarters are in Santa Clara, California, has just built its newest and largest research labs in Xi'an. Last week, it even held its annual shareholders 44' meeting in the ancient Chinese capital.

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From the Shanghai Daily: According to an industry association, only 100 out of 3,000 college students who applied for funeral industry jobs last year are staying in the field, just eight months after enthusiastically starting their jobs last year.

The students left for a range of reasons, including strong family opposition 45 or better-paid jobs elsewhere. The Shanghai Funeral and Interment Trade Association says those who stayed did so because of appreciation 46 and deep love of the funeral industry.

The 3,000 students went through interviews and started training, and by December only 108 students were left. Since then, another eight quit.

Most of the 100 who are working in the field are sales clerks for funeral parlors 47 and cemeteries 48, or doing funeral planning. Only six touch a corpse 49 in daily work.

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From the Associated Press out of Washington: US Vice President Joe Biden asked for God's blessing 50 for the late mother of Irish Prime Minister Brian Cowen during a White House celebration of St. Patrick's Day—except the elderly lady is very much alive.

"God rest her soul," Biden said Wednesday night as he introduced Cowen and President Barack Obama. He quickly caught himself and noted 51 that it's Cowen's father who is no longer living. Biden then cited the Irish proverb that "a silent mouth is sweet to hear" and yielded the podium to the president.