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Science and technology
Science and technology have always preoccupied China's leaders and indeed, China's political leadership comes almost exclusively from technical backgrounds and has a high regard for science. Deng Xiaoping called it "the first productive force." In recent times, with Hu Jintao and Wen Jiabao and their predecessors Jiang Zemin and Zhu Rongji all being trained engineers, China's leaders have been described as technocrats.
Since the early 1980s scientific and technological modernization has been given an especially high priority. Plans were made to rebuild the educational structure, continue sending students abroad, negotiate technological purchases and transfer arrangements with the U.S. and others, and develop ways to disseminate scientific and technological information. Areas of most critical interest have included microelectronics, telecommunications, computers, automated manufacturing, and energy. China also has had a space program since the 1960s and, by the late 1990s, had successfully launched more than 25 satellites.
On the other hand, distortions in the economy and society created by party rule have severely hurt Chinese science, according to some Chinese science policy experts. The Chinese Academy of Sciences, modeled on the Soviet system, puts much of China's greatest scientific talent in a large, under-funded apparatus that remains largely isolated from industry, although the reforms of the past decade have begun to address this problem.
Chinese science strategists have seen China's greatest opportunities in newly emerging fields such as biotechnology and computers where there is still a chance for China to become a significant player. A majority of Chinese students who went abroad have not returned, but they have built a dense network of global contacts that have greatly facilitated international scientific cooperation. The United States is often held up as the standard of scientific modernity in China. Indeed, photos of the Space Shuttle often appear in Chinese advertisements as a symbol of advanced technology. China's growing space program, which has put a man in space and successfully completed their second manned orbit in October 2005, is a focus of national pride.
At the end of 1996, China had 5,434 state-owned independent research and development institutions at and above the county level. There were another 3,400 research institutions affiliated with universities, 13,744 affiliated with medium and large industrial enterprises, and 726 affiliated with medium and large construction enterprises. A total of 2.8 million people were engaged in scientific and technological activities in these institutions.
The U.S.–China Science and Technology Agreement remains the framework for bilateral cooperation between the two countries in this field. It was originally signed in 1979. A five-year agreement to extend and amend the accord, including provisions for the protection of intellectual property rights, was signed in May 1991, and the Agreement was again extended for five years in April 1996. Five-year agreements to extend the accord were signed in April 2001 and April 2006. The Agreement is among the longest-standing U.S.–China accords, and includes over eleven U.S. Federal agencies and numerous branches that participate in cooperative exchanges under the S&T Agreement and its nearly 60 protocols, memoranda of understanding, agreements and annexes. The Agreement covers cooperation in areas such as marine conservation, high-energy physics, renewable energy, and health. Biennial Joint Commission Meetings on Science and Technology bring together policymakers from both sides to coordinate joint science and technology cooperation. Executive Secretaries meetings are held biennially to implement specific cooperation programs.
Japan and the European Union also have high profile science and technology cooperative relationships with China.
Noopolitik and the Knowledge Economy
Unlike South Korea the People's Republic does not have a full Ministry of Knowledge Economy as of 2011. Yet China has always maintained a premiership in world innovation, as evidenced by the manifold inventions it contributed throughout its history. Notably taking note of the PRC's premiership in Maglev train technology along with its clear interest in arcologies and Solar powered planes while infrastructure, energy and transportation are known to have remained the PRC's main economic bottlenecks throughout the 2000s Idriss Aberkane (2011) has argued "it may not be more than a decade before the Euro-Atlantic community manufactures and copies Chinese products, architecture, and systems.". Aberkane also underlined that while the PRC stood as the first nation in ability to provide popular material satisfaction, its doctrine of addressing all domestic issues through the lens of growth (which he calls a "growth panacea doctrine") was naturally continued by its interest in Noopolitik, a "knowledge panacea doctrine".
Furthermore, in an essay explicitly entitled "China's Innovation Wall" Adam Segal reported that the PRC's policy had clearly moved from "Made in China" to "Innovated in China". Zbigniew Brzezinski had himself taken note of the PRC's emulating the original american "Revolution in Military Affairs" along which the term "Noopolitik" appeared in the essay of John Arquilla.
Luxury goods
A factor that often goes overlooked is the extent of luxury spending the Chinese citizenry are undertaking. There is no greater indication of the newfound wealth of the Chinese than the amount of money now spent on goods and services that were once inaccessible. Foremost among these is the shift towards bottled water. The Chinese bottled water manufacturing industry is forecast to more than double in size in 2008, becoming a $10.5 (US dollars) billion industry in the process. Meanwhile, as those who once had no recourse but poor-quality tap water take advantage of its availability in supermarkets, those who had little or no running water are now capitalising on its availability. The tap water production and supply industry is expected to grow by 29.3% in 2008, to $11.9 billion. The country's motor vehicle production industry is expected to expand by 29.5% to nearly $200 billion, as many Chinese eschew traditional modes of transport, such as bicycles, for the comforts of modern cars. Also, consumption of chocolate and other confectionery is set to increase by 24.3%, as the industry expands to $4.6 billion, in order to keep up with China's collective sweet tooth. Couple with this is 20.8% growth in China's fast food industry, as major players such as McDonalds enter the country with vigour. Also, the LVMH group, who own major luxury brands including Louis Vuitton apparel, Moet-Chandon wines and champagne and Hennessey cognacs, reported earnings growth of over 25% in 2007 in China, the region now accounting for around 16% of their global business.
Environment and public health
One of the serious negative consequences of China's rapid industrial development since the 1980s has been increased pollution and degradation of natural resources. Problems such as soil erosion, desertification and the steady fall of the water table, especially in the north, have posed a threat to the sustainable development of the country. China is an active participant in climate change talks and other multilateral environmental negotiations in organization such as the UN Environment Program(UNEP).
Mergers & Acquisitions
From 1993 to 2010, Chinese companies have been involved as either an acquiror or acquired company in 25,284 mergers and acquisitions with a total know value of 969 bil. USD. The number and value of deals hit a new record in 2010. The number of deals that happened in 2010 has been 3,640 which is an increase of 17% compared to 2009. The value of deals in 2010 was 196 bil. USD which is an increase of 25% compared to the year before.
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