Word: rongji
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Dates: during 1990-1999
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China's most daring highflyer, Premier Zhu Rongji, has come very close. He likes the altitude--it energizes him--and over the past five years he has seemed to defy gravity as he pushed his country's economic reforms further and faster than anyone thought possible. To his many admirers at home and overseas, he was the enlightened mandarin who single-handedly could break through the red tape and propel China's economy into the next century. Even Asia's debilitating economic crisis didn't seem to faze Zhu. In March he laid out a program for China to make...
...weeks ago, Premier Zhu Rongji swore to former U.S. Trade Representative Carla Hills that there would be no devaluation "for at least two years." Hills was stunned. She says, "I told him that's very different from just saying, 'I'm not going to devalue.' I said I think investors would like to know that. And he said, 'Yes. You can say, Not within at least two years...
...parents are worried," she says about her new mobility, "but they have not forbidden me. Compared with their generation, maybe I am lucky. I can choose for myself." Like many her age, Lei spends little time thinking about politics. When pressed about the reforming Premier Zhu Rongji, she says only, "People around me say he will make China stronger." Her real concern is the slump in tourism from Asia's economic crisis. "But tomorrow will be better," she says cheerfully. "I trust in China...
...another bet has paid off on a fast-moving stock. "China is changing, for sure. Before you could only buy half a jin [pound] of meat every month. Now you can buy as much as you want, if you have the money." Politics doesn't interest him much. "Zhu Rongji? I don't know much about politics, but at least Zhu understands the stock market." At 19 Lin Yan is too young to remember the bad days of meat rationing, but she has a fair idea of what the stock market is. She has already moved from working...
Fortunately, the leadership in Beijing understands that the problems lie with an inefficient state-owned industrial sector and a financial system overloaded with unrecoverable loans. The new Prime Minister, Zhu Rongji, has launched an intelligent series of programs that have begun reshaping the economy into one that could truly be a world player in a couple of decades...