Week of November 29, 2002
Week of November 29, 2002
The U.S. and China This Week
INTERNATIONAL: Putin set to visit China
Russian President Vladimir Putin's trip to Beijing this weekend
will make him the first major world leader to visit China since the leadership
changes of the 16th Party Congress. It is expected that the agenda of the
upcoming summit will focus on the developing ties both countries have pursued
with the U.S. post September 11. Putin, who is scheduled to meet with both
Jiang Zemin and newly appointed party leader, Hu Jintao, is also expected
to discuss issues involving both Iraq and North Korea.
Sino-Russian relations have grown steadily warmer over the last
several years, with both countries recognizing their mutual geo-strategic
and economic importance. Sino-Russian trade totals over US $10 billion per
year and continues to rise and when coupled with other common goals including
border security and energy development, bilateral relations between the countries
can only continue to grow in significance.
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DOMESTIC: China's industrial growth remains high
China's National Bureau of Statistics has recently announced
that industrial profits have increased by 16.3% in the first 10 months of
this year. Close to half of industrial profit has come from the state sector,
which saw 6% growth from last year with profits totaling over US $200 billion.
With such performance, China continues to buck the trend of
poor economic performance that is pervading the Asian region. In addition
to economic growth, collected taxes, the lack of which has long had experts
worried, have also increased. According to the National Bureau of Statistics,
taxes paid by the state sector have increased by over 10% up to almost US
$40 billion.
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The U.S. and China This Week
uscpf@uscpf.org
Last updated: 17 January 2001
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