Word: communists
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Marx: Hu Jintao saluted the proles with Cirque de Soleil-style antics as China celebrated 60 years of communist rule. Now there’s something to raise your sickle...
...last year's Olympics were China's flashy coming-out party, the massive military parade commemorating 60 years of communist rule on Oct. 1 marks a more serious side to the rise of the People's Republic. Some 5,000 military personnel and 108 missile trucks - including several carrying ICBMs capable of hitting Washington - proceeded with pomp down Beijing's central avenues as more than 150 fighter aircraft soared overhead. And to make sure the heavens don't rain on their parade, the Chinese will scramble a fleet of fog-dispersing aircraft to intercept storm clouds. The event "will embody...
...Commerce told TIME. "We need a more flexible labor market, reforms of the social security system and urgent reforms of corporate tax." If Merkel decides to push through reforms, it's bound to put her on a collision course with opposition parties, like the Social Democrats and the ex-communist Left Party, and Germany's powerful trade unions. "There's a wall of political opposition and Germans aren't keen on reform," says Treier...
...China launching a new stock market board when the prospects for the global economy look so uncertain and investors appear to be souring on IPOs? Like many other counter-intuitive decisions in the communist state, this one also has a method to the seeming madness. It may not look like it, but GEM is actually an important plank in a campaign to tackle one of the country's most pressing predicaments: how to nurture small and medium-sized enterprises (SMEs), which create nearly eight out of 10 jobs, pay 50% of taxes and account for 60% of gross domestic product...
...sector. Loans are going mainly to politically connected state-owned enterprises, which now comprise just 40% of the economy and create only a quarter of jobs. It's an entrenched situation that dates back to the days of economic central planning, and something that China's communist rulers do not seem to have the political gumption - or indeed the desire - to change. (Watch a video about China?s knockoff electric carmakers...