CPC to address concerns on rising inequality

[email protected] (The Hindu)
November 13, 2012

China_migran

Beijing, November 13: Top Communist Party of China (CPC) officials on Monday pledged to expand the construction of low-income housing and to provide more support to a job market facing pressures from a continuing slowdown, amid growing public concerns about widening social inequality in the country.

As the Party prepares for leadership change, how it grapples with surging real estate prices, shutting out an increasing number of Chinese from buying homes; and how it will ensure employment for the millions of graduates and migrant workers flooding cities every year, are among its most pressing challenges, say officials and scholars.

Jiang Weixin, who heads the Ministry of Housing and Urban-rural Development, told reporters on Monday at a briefing along the sidelines of the 18th National Congress, which will conclude on Wednesday, that the government plans to build at least five million units of homes next year, following the construction of more than seven million units this past year.

Mr. Jiang acknowledged the problems affecting the provision of housing, starting with widespread complaints about a lack of transparency in the allocation of low-income homes. China plans to build 36 million units under the correct Five-Year Plan (2011-15). In the first year of the plan, the government built 10 million units at a cost of around $ 200 billion.

Rising real estate prices, coupled with problems in the provision of homes, have fuelled anger about the housing sector in recent months. According to China Development Research Foundation report, an official think-tank, local governments were shirking their responsibilities of building low-income housing projects. Instead, they were pursuing more lucrative luxury projects. Recent audits conducted by the central government found that close to three billion Yuan allocated for low-income housing developments had been diverted for other projects.

Assuaging concerns about rising real estate prices, Mr. Jiang said the government would not relax recently enforced property restrictions, such as barring third-home purchases. He said it was also “actively studying” expanding an experimental property tax, the official Xinhua news agency reported.

According to October's figures, housing sales rose 5.6 per cent after 10 months of this year to 4.63 trillion Yuan ($ 735 billion). Property investment accounts for 13% of China's gross domestic output and one-fifth of fixed asset investment, presenting the government with a tough balancing act while introducing cooling measures.

Separately on Monday, a CPC official in charge of employment, Yang Zhiming, warned that the job market in China was “feeling the pressure from the country's economic downshift”. “The impact of economic slowdown on the job market is starting to emerge”, Mr. Yang, who is also the Vice Minister of Human Resources and Social Security, told reporters. He said the growth of newly added jobs had been narrowing since April, exerting pressure on the job market with seven million college graduates estimated to have entered the job market this year. “China will continue to face the problem of labour oversupply for a long time,” he said, with urban employment at 4.1 per cent, below the government's 4.6 per cent target limit. The government, he added, would take steps to “boost labour-intensive industries” and “strategic emerging industries” to accelerate job growth, and would also encourage students to work in less developed central and western China.

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News Network
May 3,2020

London, May 3: The British government had a contingency plan for prime minister Boris Johnson’s death as his condition deteriorated while he battled COVID-19 last month in intensive care, Johnson said in an interview with The Sun newspaper.

Johnson returned to work on Monday, a month after testing positive for COVID-19. Johnson, 55, spent 10 days in isolation in Downing Street from late March, but was then was taken to London’s St Thomas’ Hospital where he received oxygen treatment and spent three nights in intensive care.

“They had a strategy to deal with a ‘death of Stalin’-type scenario,” Johnson, 55, was quoted as saying by The Sun. “It was a tough old moment, I won’t deny it.”

After Johnson was discharged, St Thomas’ said it was glad to have cared for the prime minister, but the hospital has given no details about the gravity of his illness beyond stating that he was treated in intensive care.

Johnson and his fiancée, Carrie Symonds, on Saturday announced the name of their newly born son as Wilfred Lawrie Nicholas, partly as a tribute to two of the intensive care doctors who they said had saved Johnson’s life.

“The doctors had all sorts of arrangements for what to do if things went badly wrong,” Johnson said of his COVID-19 battle. “The bloody indicators kept going in the wrong direction.”

He said doctors discussed invasive ventilation.

“The bad moment came when it was 50-50 whether they were going to have to put a tube down my windpipe,” he said. “That was when it got a bit . . . they were starting to think about how to handle it presentationally.”

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News Network
April 11,2020

Washington, Apr 11: China is considered a developing country, make the United States too a developing one, US President Donald Trump said on Friday, alleging that Beijing has taken advantage of his country.

"China has been unbelievably taken advantage of us and other countries. You know, for instance, they are considered a developing nation. I said well then make us a developing nation too,” Trump told reporters at his daily White House news conference on coronavirus.

The president was responding to a question on China.

“They get big advantages because they are a developing nation. India, a developing nation. The United States is a big developed nation. Well, we have plenty of development to do,” he said.

Reiterating that United States was taken advantage of by the World Trade Organization, Trump said the Chinese economy started booming after it joined WTO with the help of the US.

“If you look at the history of China, it was only since they went into the WTO that they became a rocket ship with their economy. They were flatlined for years and years,” he said.

“Frankly, for many, many decades. And it was only when they came into the WTO that they became a rocket ship because they took advantage of all -- I'm not even blaming them. I'm saying how stupid were the people that stood here and allowed it to happen,” he said.

For latest updates on coronavirus outbreak, click  here

The Trump Administration will now allow that to happen, he said.

“If they don't treat us fairly, will leave. But now we're starting to win cases,” he said.

Alleging that China has taken advantage of the United States for 30 years, he said, China has taken advantage of the US through WTO and using rules that are unfair to the United States.

"They should have never been allowed it, this should have never been allowed to happen", he added.

“When China joined and was allowed to join under those circumstances the WTO, that was a very bad day for the United States because they have rules and regulations that were far different and far easier than our rules and regulations,” he said.

“Plus. They took advantage of them down to the last. China took advantage of them like few people would even think to take advantage of them and again they are considered right a developing nation,” he added.

The United States, he rued, is not considered a developing nation.

“The were given advantages (for being a developing nation). For many years China has ripped off the United States. Then I came along and right now, as you know, China is paying 25 percent," said Trump, adding that the US is now gaining "billions and billions and billions of dollars in tariffs from China”.

The US is not paying, he asserted.

“Not every country is China but China would devalue their currency and they would also pour out money and they essentially were paying most of those tariffs not us,” he said.

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News Network
April 10,2020

Melbourne, Apr 10: Scientists have identified six drug candidates from more than 10,000 compounds that may help treat COVID-19.

The research, published in the journal Nature, tested the efficacy of approved drugs, drug candidates in clinical trials and other compounds.

"Currently there are no targeted therapeutics or effective treatment options for COVID-19," said Professor Luke Guddat from the University of Queensland in Australia.

"In order to rapidly discover lead compounds for clinical use, we initiated a programme of high-throughput drug screening, both in laboratories and also using the latest computer software to predict how different drugs bind to the virus," Guddat said.

The project targeted the main COVID-19 virus enzyme, known as the main protease or Mpro, which plays a pivotal role in mediating viral replication, the researchers said.

This makes it an attractive drug target for this virus, and as people don't naturally have this enzyme, compounds that target it are likely to have low toxicity, they said.

"We add the drugs directly to the enzyme or to cell cultures growing the virus and assess how much of each compound is required to stop the enzyme from working or to kill the virus. If the amount is small, then we have a promising compound for further studies," said Guddat.

After assaying thousands of drugs, researchers found of the six that appear to be effective in inhibiting the enzyme, one is of particular interest.

"We're particularly looking at several leads that have been subjected to clinical trials including for the prevention and treatment of various disorders such as cardiovascular diseases, arthritis, stroke, atherosclerosis and cancer," Guddat said.

Researchers said compounds that are already along the pipeline to drug discovery are preferred, as they can be further tested as antivirals at an accelerated rate compared to new drug leads that would have to go through this process from scratch.

"With continued and up-scaled efforts we are optimistic that new candidates can enter the COVID-19 drug discovery pipeline in the near future," Guddat said.

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