Xi proposes a "Global Civilization Initiative"; PBoC; Missing bond data; Guo Wengui
Xi proposed the “Global Civilization Initiative (GCI) 全球文明倡议” in his speech "Walking Together on the Road to Modernization 携手同行现代化之路" at the CPC in Dialogue with World Political Parties High-level Meeting Wednesday. It is very much in sync with Chinese-style modernization and the message he delivered last month at the opening of a study session at the Party School of the CPC Central Committee for “newly-elected members and alternate members of the CPC Central Committee, as well as principal officials at the provincial and ministerial levels”. As Xi said then:
Chinese modernization has broken the myth that "modernization = Westernization", presented another picture of modernization, expanded the options for developing countries to achieve modernization, and provided a Chinese solution for mankind to explore a better social system. 中国式现代化，打破了“现代化=西方化”的迷思，展现了现代化的另一幅图景，拓展了发展中国家走向现代化的路径选择，为人类对更好社会制度的探索提供了中国方案。
In his speech Wednesday Xi laid out four points when suggesting the GCI:
——We should jointly advocate respect for the diversity of world civilizations, adhere to equality, mutual learning, dialogue and tolerance of civilizations, and transcend civilization barriers, civilizations learn from each other, and civilizations are inclusive and superior. 我们要共同倡导尊重世界文明多样性，坚持文明平等、互鉴、对话、包容，以文明交流超越文明隔阂、文明互鉴超越文明冲突、文明包容超越文明优越。
——We should jointly advocate and carry forward the common values of all mankind. Peace, development, fairness, justice, democracy and freedom are the common pursuits of people of all countries. We should understand different civilizations' understanding of value connotation with a broad mind, and do not impose our own values and models on others or engage in ideological confrontation. 我们要共同倡导弘扬全人类共同价值，和平、发展、公平、正义、民主、自由是各国人民的共同追求，要以宽广胸怀理解不同文明对价值内涵的认识，不将自己的价值观和模式强加于人，不搞意识形态对抗。
——We should jointly advocate attaching importance to the inheritance and innovation of civilization, fully tap the historical and cultural values of all countries, and promote the creative transformation and innovative development of excellent traditional cultures of all countries in the process of modernization. 我们要共同倡导重视文明传承和创新，充分挖掘各国历史文化的时代价值，推动各国优秀传统文化在现代化进程中实现创造性转化、创新性发展。
——We should jointly advocate strengthening international cultural exchanges and cooperation, explore the construction of a global network of dialogue and cooperation among civilizations, enrich the content of exchanges, expand cooperation channels, promote mutual understanding and getting to know each other among people of all countries, and jointly promote the development and progress of human civilization 我们要共同倡导加强国际人文交流合作，探讨构建全球文明对话合作网络，丰富交流内容，拓展合作渠道，促进各国人民相知相亲，共同推动人类文明发展进步。
I have included more excerpts of Xi’s speech in item 1 below. I think a lot of countries may find this more appealing than the Biden Administration’s “Democracy vs Authoritarianism” framing.
Summary of the Essential Eight:
Upcoming US Summit for Democracy drawing ire - The foreign ministry is out ahead of the meeting in a couple of weeks, responding to a question from CCTV - “The US has practiced a “Neo-Monroe Doctrine” in Latin America, instigated “color revolutions” in Eurasia, and orchestrated the “Arab Spring” in West Asia and North Africa, constantly bringing chaos, livelihood woes and human rights disasters to many countries. This is just one of the many textbook examples of how the US democracy destabilizes the world. Facts have repeatedly proven that the drama for democracy orchestrated by the US is never a boon but a bane for the world.”
January-February economic data so-so - The data came in about as expected, certainly there has been a Covid exit rebound but it is not as explosive as some of the more optimistic were hoping for.
PBoC meetings - The PBoC held its annual meeting on financial stability, and a meeting to study the Xi’s important speeches at and the spirit of the Two Meetings. Interestingly, the study session readout specifically referred to Xi’s comments about US-led suppression and encirclement - “We will enhance our awareness of risks and struggles and properly respond to containment and suppression by the United States and the West 妥善应对美西方遏制打压。四是坚定不移全面从严治党”.
Taiwan to lose the recognition of Honduras? - The President of Honduras said in a tweet that she wanted to establish official ties with the PRC. If the country switches to the PRC, Taiwan will be down to 13 countries that recognize it officially.
Where did the bond data go? - Bond quotes are no longer in feeds, so traders are back to using chat groups for information and transactions. There has been no official statement of why the data suddenly stopped. There is speculation it has to do with “security”, there is also a report that it relates a dispute over who has the rights to the data. Whatever is going on it is a bad look for a market of the PRC’s size, and if not resolved soon may spook more foreign investors.
New Organization Department deputy head - Huang Jianfa 黄建发, most recently the deputy Party Secretary in Zhejiang, is officially the new #2 in the Central Organization Department. The February 8th Sinocism noted that Huang was likely to have gotten this post. We still do not have official confirmation of the replacement for Chen Xi as head of the Organization Department, but I believe Politburo member Li Ganjie is the new head.
Guo Wengui arrested - Finally. Guo may be one of the great scammers of our time. The money involved in his latest scheme is staggering, more than $1 Billion. If convicted of all charges he may spend the rest of his life in jail, unless he gets bail and decides to make a run for it. If Beijing still wants him perhaps there is something the US could trade him for, though that process could take years through the courts. He has good taste in cars; here is the $4.4 million Bugatti he purchased:
Earlier today I published this week’s episode of the Sharp China Podcast. You can listen to it here. From the show notes:
On today's show Andrew and Bill begin with the news that Saudi Arabia and Iran have reestablished diplomatic relations in a deal that was mediated by China, and announced in Beijing last week. Then: A report that Xi could visit Russia as early as next week, a second report that he will be making his first call to Zelenskyy since the Russian invasion began last year, President Biden heralds the AUKUS submarine partnership alongside leaders from the UK and Australia, and reactions to the idea that a Kamala Harris trip to China might appease the PRC if Taiwanese president Tsai Ing-wen visits with members of Congress during her trip to the United States. At the end: Keeping population concerns in perspective, information constraints and China's humanitarian abuses, the story of Xi Jinping's father, Xi Zhongxun, finally some updates on the foreign-entry Visa situation, and a college basketball star of Chinese descent.
You can also listen to it in the excellent Substack app, which also doubles as a podcast player:
The Substack App has also been the place to participate in ongoing chats in the Sinocism channel as well as the channel of any other Substack communities to which you subscribe. As of today, those chats are now also available in a web browser. You can see the Sinocism chat as well as any others you have access to by clicking here -https://substack.com/chat. I have the Sinocism chat - substack.com/chat/2 - set to allow paying subscribers to start their own threads, so you do not have to wait for me to get involved.
One new chat thread could use some input from readers in the DC area. What are some good Chinese restaurant recommendations around here?
Thanks for reading.