Word: chen
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Dates: during 1980-1989
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...Asian economists said that a sharp U.S. slowdown would be damaging to their nations but not devastating. To some extent, the Pacific economies can make up for a fall-off in exports by boosting production for domestic consumption. Said Edward Chen, director of the Center of Asian Studies at the University of Hong Kong: "When the U.S. does well, we do extremely well. But when it does not, we are still all right...
Board Member Chen said that the reforms would be a boon to China's long-term prospects, but foresaw transitional difficulties. He predicted that China's growth rate would ease from 9.5% this year to 7.5% in 1985. The new flexible pricing system may cause inflation to rise from 1.5% to 5%. In addition, efforts by enterprises to trim their work forces and become more productive could raise unemployment. Though the official jobless rate is only 3%, Chen estimated that about 15% of the population is "underemployed" at part-time and make-work jobs...
Surging exports of such consumer products as clothing, toys and watches have helped Hong Kong hit an 8.5% growth rate this year. Chen expects that pace to dip slightly to 6.5% in 1985, largely because of a slowdown in shipments to the U.S. Investment in new industrial plants and machinery is up 17% this year, but that has been offset by a continuing slump in commercial and residential construction. In the late 1970s and early 1980s, construction firms went on a speculative spree, and many of the luxury apartment and office buildings they put up are still not fully occupied...
...those relations are prickly, a steady stream of high-ranking officials from Peking has fanned out across Eastern Europe during the past four months. President Li Xiannian traveled to Rumania and Yugoslavia. China's Minister of Foreign Trade, Chen Muhua, made well-publicized visits to Hungary, Poland, Czechoslovakia, East Germany and Bulgaria. The good feelings have been reciprocated. Last August, Hungarian Deputy Premier József Marjai became the highest-ranking East European official to visit China in nearly two decades. Peking has also played host to the Deputy Foreign Minister of Poland...
...capitalism. In the highest echelons, Deng has been supported by Premier Zhao Ziyang and General Secretary Hu Yaobang, but has evidently run into some stiff resistance over the pace of his program from the three other members of the influential Politburo Standing Committee: President Li Xiannian, former Planning Czar Chen Yu and Marshal Ye Jianying, a Communist leader for half a century who may be the last party luminary strong enough to question Deng. Ye has been out of public sight for months, and there have been persistent rumors that he died before the plenum began. The party, according...