本届中国总理不好做: 何清涟

choi

何清涟, 本届中国总理不好做. VOA Chinese, May 14, 2016
http://www.voachinese.com/conten ... 160514/3330462.html

Note:
(a) "胡锦涛宽仁厚道，不仅不过问国务院的事务，对温相从2013年开始，在国内国外大讲民主、普世价值、政治改革等 '政治严重不正确' 的话也充耳不闻。"

Most likely 2003, not 2013.

(b) "据渣打银行发布的报告，中国广义货币供应量（M2）的存量高达13.8万亿美元，是全球第一货币大国。《中国货币超发严重 经济货币化领先全球》一文称，2009年以来，中国央行的货币供应量先后超过日本、美国、欧元区，成为目前全球最大的 '印钞机。' 2012年全球新增货币供应量超26万亿元人民币，中国占近一半。"
(i) I wonder whether it was 2011, rather than 2012. I fail to find the report itself, which is not surprising because this sort of reports is meant for clients or subscribers.
(ii) Stephen Bell and Gui Feng, The Rise of the People's Bank of China; The politics of institutional change. Harvard University Press, 2013
https://books.google.com/books?i ... 20china&f=false
("According to a Study by the Standard Chartered Bank in early 2012, the total assets of PBC [sic; usually PBOC, for People's Bank of China] have ballooned 119% since 2006 to a whopping 28 trillion yuan (US$4.5 trillion) by the end of 2011, making it the world's biggest central bank in terms of total assets, ahead of the European Central Bank (US$3.5 trillion) and the US Federal Reserve Bank (US$3 trillion). The PBC, instead of the traditional central bank lenders such as the European Central Bank or the Federal Reserve, is now the major source of global liquidity. According to the report, the PBC has become the world's number 1 in terms of both the stock of M2 money (85.2 trillion yuan, or US$13.7 trillion) and newly added M2 money. In 2011 alone, China's M2 supply accounted for 52% of the world's total. This ld the Standard Chartered Bank to call Zhou Xiaochuan, governor of the PBC, 'the world's central banker' (Mackenzie 2012; 'PBOC Top Central Banks' [China Daily, Apr 23,] 2012).
(iii) The reference to Mackenzie is to the following (or similar report in Financial Times), which gave a glimpse of what the Standard Chartered report.

Kate Mackenzie, That’s Governor Zhou to you. Financial Times, Apr 17, 2012 (blog).
http://ftalphaville.ft.com/2012/ ... vernor-zhou-to-you/
(iv) Intuitively, it is not surprising that China is No 1 in M2.
(A) For definition of money supply, see
https://en.wikipedia.org/wiki/Money_supply
(section 3 Money supplies around the world; section 3.1        United Sates: You only have to know what M2 is, not any other M)
(B) Consumers in the West uses credit cards, rather than carry cash around. That make a major difference in calculation of money supply. See

Credit cards are commonly used to buy goods and services[.] are credit card transactions or credit card debt included in demand deposits or the money supply? If not, why doesn't the definition of the money supply include them?  Federal Reserve Bank of San Francisco, September 2005 (under the heading Education; answered by "DR ECON")
http://www.frbsf.org/education/p ... ply-demand-deposits
("That's a frequent question—the answer lies within the important distinction between assets and liabilities. Money is a financial asset that one may spend—it represents an existing asset that may be used to purchase goods or services. When calculating the money supply, the Federal Reserve includes financial assets like currency and deposits. In contrast, credit card debts are liabilities. Each credit card transaction creates a new loan from the credit card issuer. Eventually the loan needs to be repaid with a financial asset—money. To households, the line of credit associated with a credit card is not a financial asset, only a convenient vehicle for borrowing to finance a purchase")

(c) "2013年5月，李克强宣布新的经济改革措施，巴克莱资本 Barclays 随之将其总结为 '李克强经济学 Li Keqiang economics' "