Monday 17 November 2014

China Become World Leading Economic Power

 
China and not the United States is viewed as the world's foremost economic power by Europeans, according to a survey by the Pew Research Center. Back in 2008, before the financial crisis, a European median of 44 percent considered the United States the leading economic powerhouse worldwide. In that year, 29 percent considered China the world's leader.

China raced into the lead for the first time in 2010, and today, it's viewed as the foremost economic power by 49 percent of Europeans compared to 34 percent for the United States. Interestingly, the shift in perception concerns America's premier European allies - France Germany, Poland, Spain and the United Kingdom. 



Gross domestic product is a commonly-used economic indicator for measuring the state of a country’s economy. GDP is the total market value of goods and services produced in a country within a given period of time, usually a year. Per capita GDP is defined as the GDP divided by the total number of people in the country. This indicator is generally used to compare the economic prosperity of countries with varying population sizes.

In 2010, China overtook Japan and became the world’s second-largest economy. As of 2012, it was the largest exporter and the second largest importer in the world. However, one reason behind its economic strength lies within its population size. China has to distribute its wealth among over 1.3 billion people. By 2014, China’s per capita GDP was only about one seventh as large as that of main industrialized countries. When compared to other emerging markets, China ranked third among BRIC countries in terms of GDP per capita, followed only by India.

According to projections by the IMF, per capita GDP in China will escalate from around 3,740 U.S. dollars in 2009 to 10,586 U.S. dollars in 2019. Possible reasons for this are the soaring economy and low population growth. China’s economic structure is also undergoing changes. A major trend lies in the shift from an industry-based to a service-based economy. 



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Based on data on 2012-2013 : This statistic shows the quarterly growth of the real gross domestic product (GDP) in China from the third quarter of 2012 to the third quarter of 2014. In the first quarter of 2014, the growth of the real GDP in China ranged at 7.4 percent compared to the same quarter of the previous year. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth

In 2013, China ranged among the top three countries with the largest gross domestic product worldwide. Since the introduction of economic reforms in 1978, the country has experienced rapid social and economic development. In 2013, it became the world’s largest trading nation, overtaking the United States. However, per capita GDP in China was still much lower than that of industrialized countries.

The annual growth rate of China’s GDPhad constantly been above nine percent until 2011. According to projections of the IMF, the annual GDP growth will slow down further until 2019. Rising domestic wages and the competitive edge of other Asian and African countries are seen as main reasons for the stuttering in China’s economic engine. One strategy of the Chinese government to overcome this transition is a gradual shift of economic focus from industrial production to services.

Another major challenge lies in the massive environmental pollution that China’s reckless economic growth has caused over the past decades. China’s development has been powered mostly by coal consumption, which resulted in high air pollution. To counteract industrial pollution, further investments in waste management and clean technologies are necessary. In 2012, only 1.59 percent of GDP was spent on pollution control. Surging environmental costs aside, environmental issues could also be a key to industrial transition as China placed major investments in renewable energy and clean tech projects. The consumption of green energy skyrocketed from 0.8 million metric tons of oil equivalent in 2003 to 42.9 million in 2013. 


 

 Source :
1. http://www.statista.com/

Sunday 16 November 2014

Russian pundit attacks Tony Abbott over ‘cynical’ MH17 plot

 
Russia’s top rating news program has launched an extraordinary attack on Prime Minister Tony Abbott and hinte¢d he is part of a “cynical” and “deliberate” western plot to blame Russia for the MH17 tragedy.
The attack aired on Russian state channel ORT at the top of its national evening news bulletin in a special report by Mikhail Leontyev, a well known pundit with close links to the Kremlin. It comes as Russian President Vladimir Putin joins other leaders in Brisbane this weekend for the G20 summit.

“We know that at the summit in Brisbane Australian Prime Minister Abbott is threatening to ask our President some tough questions about the Malaysian Boeing. Let’s try to help him,” Mr Leontyev said.
The report then showed what Mr Leontyev said were photos taken by a non-Russian low-orbit satellite and obtained by ORT. Mr Leontyev said the photos showed a Ukrainian Mig 29 fighter jet shooting an air-to-air missile at the exact time and place MH17 was shot down. He said this was consistent with Russia’s preferred version of events that a Ukraine military jet shot down MH17.

He said that there was no evidence for the claim raised by Abbott that MH17 was struck by a ground-to-air Buk missile fired by pro-Russian separatists. “There was most likely no Buk and no launch,” he said.

Mr Leontyev then returned to the satellite photos and addressed western leaders. “Gentlemen, you have these photos or others. Why wont you show them to us? Show your cards. Because at the moment we have every reason to believe that state crimes have been committed by those who deliberately and cynically destroyed the plane and by those who deliberately and cynically are hiding that fact, even though they have all the information.”

The broadcast is the first time Russian state television has covered the conversation between Mr Abbott and Mr Putin in Beijing this week where Mr Abbott said he had evidence that MH17 was shot down by a ground-to-air missile launcher operated by pro-Russian separatists in eastern Ukraine, which returned to Russia after the accident. Mr Abbott asked Mr Putin for compensation and an apology.


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BRISBANE, Australia — President Obama edged closer to describing Russia’s military incursions in Ukraine as an invasion, saying on Sunday that the Western campaign to isolate Moscow would continue, though additional sanctions were unnecessary for now.

Speaking to reporters at the end of the annual meeting of the Group of 20, an organization of 19 industrial and emerging-market countries along with the European Union, Mr. Obama said the Russians were supplying heavy arms to separatists in Ukraine in violation of an agreement Russia signed with Ukraine a few weeks ago.

 
“We’re also very firm on the need to uphold core international principles,” he said, “and one of those principles is you don’t invade other countries or finance proxies and support them in ways that break up a country that has mechanisms for democratic elections.”



Mr. Obama, who met President Vladimir V. Putin of Russia at an economic meeting in Beijing last week and again at the summit meeting here this weekend, said he warned him that if the Russians did not change course in Ukraine, “the isolation that Russia is currently experiencing will continue.” He described the exchanges as typically “businesslike and blunt.


The president’s words were among the toughest he has used about Russia’s actions during the Ukraine crisis. But after meeting with European leaders to discuss next steps, it was unclear whether the allies had the stomach for another round of sanctions. “At this point, the sanctions that we have in place are biting plenty good,” he said.

Russia’s aggression toward Ukraine spilled over into the Group of 20 meeting. Mr. Putin got a chilly reception from several leaders, including from Prime Minister Tony Abbott of Australia and Prime Minister Stephen Harper of Canada, who told him, “I guess I’ll shake your hand, but I have only one thing to say to you: You need to get out of Ukraine.”

Prime Minister David Cameron of Britain also condemned Mr. Putin’s actions, saying the Russian leader was at a “crossroads.”

“If he continues to destabilize Ukraine, there’ll be further sanctions, further measures, and there will be a completely different relationship between European countries and America on the one hand, and Russia on the other,” Mr. Cameron said during a news conference in Brisbane.

Mr. Putin himself put a positive spin on events, saying before leaving Brisbane that virtually every issue discussed had been helpful — even the issue of new sanctions over Ukraine — and that he was leaving early only because he had a long flight home.



“Our work took place in a very constructive spirit and produced results,” he told reporters, according to a transcript on the Kremlin website.

Ukraine was not a topic for the broad meetings but had come up repeatedly during his one-on-one sessions with other world leaders. Mr. Putin said he had gotten across his point of view that sanctions hurt both those who impose them and those who are targeted.
The foreign ministers of the European Union plan to meet in Brussels on Monday to discuss the sanctions and the situation in Ukraine, where sightings of suspected Russian military convoys have fueled speculation that a new rebel offensive is near.

“It might sound strange to you, but I think there are good hopes for being able to settle this situation,” Mr. Putin said, without delving into specifics. He did express surprise, however, that the Ukrainian government in Kiev was moving to sever all financial ties with the breakaway regions of Luhansk and Donetsk, calling it “an economic blockade.”

“Why are the authorities in Kiev now cutting off these regions with their own hands? I do not understand this,” he said, adding that this was not the right way to go about saving money. “I do not think this is a fatal blow, though,” he added.

Mr. Putin denied that he was leaving early because he had been singled out for criticism at the summit meeting, attributing his departure to his work ethic. The flight from Brisbane to Vladivostok was nine hours, then he needed another nine to reach Moscow, he explained.
“We still have to get home and be ready for work on Monday,” the president said. “It would be nice to be able to sleep for four or five hours.”

The summit meeting was also shadowed by concerns about the state of the military campaign against the Islamic State group in Iraq and Syria, which Mr. Obama has said is at too early a stage to say whether the United States and its coalition allies are winning.

Mr. Obama denied reports that he had ordered a formal review of the strategy against the militants in Syria. He said that while the White House was constantly reviewing its tactics in both Syria and Iraq, the basic elements of the strategy remained in place.

Rebuffing a growing chorus of skeptics of his strategy, the president said the United States would never make “common cause” with President Bashar al-Assad of Syria in the campaign against the Islamic State, also known as ISIS or ISIL, because that would alienate the country’s Sunni Muslim population.
“We have communicated to the Syrian regime that when we operate, going after ISIL in their air space, that they would be well advised not to take us on,” Mr. Obama said. “Beyond that, there’s no expectation that we are in some ways going to enter an alliance with Assad. He is not credible in that country.”
At the same time, he said, the United States was not exploring ways to remove Mr. Assad from office — a recognition that the campaign against the Islamic State fighters had given Mr. Assad breathing room. Any lasting political settlement in Syria, he said, would have to involve Iran and Turkey, as well as the Assad government’s primary patron, Russia.
While Mr. Obama continued to rule out the use of American ground troops in the campaign — and said the chairman of the Joint Chiefs of Staff, Gen. Martin E. Dempsey, had not recommended using them, either — he said there were cases in which troops might be necessary. After declining to speculate about those scenarios, he did just that.


“If we discover that ISIL had gotten possession of a nuclear weapon,” Mr. Obama said, “and we had to run an operation to get it out of their hands, then yes, you can anticipate that not only would Chairman Dempsey recommend sending U.S. ground troops to get that weapon out of their hands, but I would order it.”

Mr. Obama’s comments came at the end of a hectic weeklong trip to Asia that produced a landmark climate-change agreement with China, progress on a number of trade negotiations and a return visit for the president to Myanmar, during which he admonished its military-dominated government that it needed to keep the reform process on track.

“If you ask me, I say that’s a pretty good week,” he said. “I intend to build on that momentum when I return home tomorrow.”

Reviewing his trip, the president appeared particularly proud of the pact between the United States and China to develop a common position on additional reductions in carbon emissions before the next round of global climate talks in Paris in 2015.

The president said there was “no excuse” for both developed and developing nations not to come together “to achieve a strong global climate agreement next year.”

With the American economy currently outperforming those of Europe and Japan, Mr. Obama came into this meeting with a stronger hand than he has had in previous meetings. Administration officials said they had succeeded in pushing a message of growth-oriented policies into the leaders’ communiqué issued at the end of the meeting.

The communiqué is usually more balanced between the virtues of growth and austerity. But, Mr. Obama said, “all the G-20 countries announced strategies to increase growth and put more people to work.”