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Li Keqiang, China’s next premier, carries reformers’ hopes - The Washington Post
Keywords:
Tags: Current Focus, China,
Li Keqiang, China's new premier, entered Peking University in 1978 by excelling in merit exams. Li and a fellow student, Yang Baikui, translated the English book "The Due Process of Law" by British jurist Lord Denning. Professor Gong Xiangrui, brought the book to China and educated his students in the ideas of constitutional law and western liberalism. Yang says Li learned English on his own and meticulously carried a stack of notecards with English on one side and Chinese translation on the other. Li would study the cards while waiting for a bus or in the line at the school cafeteria. Li has political discusions with students from that time, some of whom joined the pro-democracy demonstrations of 1989. He is the son of a mid level county official from Anhui province and moved in the party ranks through diligent effort. Li's doctoral thesis is in economcs and he is expected to focus on economic changes, with Xi Jinping, the new president, taking the lead in making changes to the political system. Fellow students from Li's days at Peking University say the difference between them and Li is the pace of democratization, with Li looking at it as a longer process. Recent articles by Li Keqiang on economic change show his emphasis on urbanization as a way to improve agricultural conditions with a smaller number of farmers improving producitvity in agriculture, and the importance of creating a better social safety net for people in China.
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Zoellick says Germany is right that credit cannot be provided freely. At the same time partial euro bonds solution would go a long way to address the crisis. The need now is for action to help ease the immediate problems of financing in the eurozone, because issues of competitiveness will be resolved only over time.The danger he says is that the solutions are not coming in a timely manner and are always late to address the crisis. He says because debt problems will take time to address and with energy price volatility a different approach will be required than the short term stimulus and central bank monetary easing. A longer term approach needs to be put in place.
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