Chinas Foreign Exchange Reserves
100423.2040 at compuserve.com
Tue May 28 13:37:04 MDT 1996
It has recently been reported that China has the largest foreign
exchange reserves of any country in the world apart from Japan.
This is an extraordinarily powerful position for a developing
country to be in. It is a matter of debate of course
what compromises the Chinese regime has made to achieve this
and whether the compromises of socialist principle are
But considering they have every intention of moving up market
technologically, (just signed a joint project with Rolls Royce)
as well obviously as having potentially the largest
domestic market in the world, everyone agrees they are worth watching.
I take Wei En-Lin's point about pirating of music tapes, but if
this is now made a criminal offence (hopefully without the death
penalty) perhaps China will more effectively be able to
push ahead against the western imperialist attempt to monopolize
intellectual property rights where it really matters.
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