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Thread: The 12th Chinese 5 Year plan approved

  1. #1
    Hicup's Avatar
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    Oct 2009
    Rochester, NY
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    Today @ 09:14 AM
    Very Conservative

    The 12th Chinese 5 Year plan approved

    The China communist government just approved their new 12'th Five-Year Plan (below).

    From what I have read, their government intends to give RMB 14 trillion ($2.1 trillion, at the offical, bogus exchange rate) to public and private sector industries to facilitate this plan.

    Meanwhile, our government burns this amount every year doing no-one knows what with it and accumulating to the debt.

    I worry the Chinese will succeed at there plan again and pull further ahead of us in critical technology and manufacturing areas (their last 5 yr plan largely met their goals).

    Sorry for the long post below, I thought its breadth was interesting. I like their innovation goals

    Economic targets

    -- GDP to grow by 7 percent annually on average;

    -- More than 45 million jobs to be created in urban areas;

    -- Urban registered unemployment to be kept no higher than 5 percent;

    -- Prices to be kept generally stable.

    Economic restructuring

    -- Rise in domestic consumption;

    -- Breakthrough in emerging strategic industries;

    -- Service sector value-added output to account for 47 percent of GDP, up 4 percentage points;

    -- Urbanization rate to reach 51.5 percent, up 4 percentage points
    The entire plan at this Link


    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

  2. #2
    Count Smackula
    rathi's Avatar
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    Oct 2006
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    10-31-15 @ 08:29 PM

    Re: The 12th Chinese 5 Year plan approved

    5 year plans rarely turn out quite as well in reality as they do on paper, but the overall direction is solid. The 7 strategic industries getting massive investment are excellent picks. Focusing on social stability over pure growth is an excellent move. I hope this signals that China government will have an equally pragmatic outlook on reforming political issues as well as economic/social ones.

  3. #3
    Outer space potato man

    Join Date
    Feb 2010
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    Today @ 10:31 AM

    Re: The 12th Chinese 5 Year plan approved

    I have a plan to make the US debt drop by 30% in 5 years and improve our highway system and bring unemployment to minus 4%! (4% of the population having stolen identities which they use to work a second job)

    Wait, details?
    One of you will end up here next!

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