BRICS bank vis-a-vis IMF

Last week's agreement by the five BRICS member states to establish a development bank along with a currency reserve pool, they called the Contingency Reserve Arrangement, set off a storm of commentary suggesting that these new institutions would be rivals to the World Bank and the International Monetary Fund. But the key question of how they will operate remains unanswered, perhaps because the five countries haven't yet agreed on it among themselves. Perhaps, they will also be marginal players on the global stage in the foreseeable future.

The right time to study abroad

I arrived in the United States as a fresh college graduate from Nanjing University 14 years ago for higher studies, and ultimately completed my doctorate at Johns Hopkins University in Maryland. At that time, it was rare to hear about Chinese students funding their studies. A vast majority of Chinese students were, like me, getting full scholarship from American universities covering their tuition as well as living expenses.

Hot Words

Expired meat scandal 过期肉丑闻 (guo qi rou chou wen)

From the Chinese press

Reform pay system to save workers

Bridge over Pacific waters

China values geopolitical importance of Latin American and Caribbean nations and wants all-round cooperation with them

Cartoon

Smart gifts promote changing China

Silk, tea, porcelain and giant panda have traditionally represented China's image, the image of an "ancient civilization", to the outside world. But it seems new elements are taking over the important cultural task. Call it the strength of China's soft power, if you will.

Netting fugitive officials

BRINGING TO JUSTICE CORRUPT OFFICIALS who have fled abroad with their ill-earned money is more than just a matter of justice and social fairness. It is also a potent way of deterring other corrupt elements from fleeing the country with their families and ill-gotten fortune.

Naked truth about 'naked officials'

With more "naked officials" moving their families and fortune overseas, China is not only losing huge amounts of money, but also facing the challenge of preventing foreigners from linking the country with corruption.

Anti-graft drive bolsters reform

In leading the Political Bureau of the Central Committee of the Communist Party of China in a well-publicized probe to Xu Caihou, a former vice-chairman of the Central Military Commission accused of selling ranks in the military, Party General Secretary Xi Jinping has affirmed that his anti-corruption drive is the boldest and most serious that China has ever experienced.

Western media expose their prejudice

Usni.org, the official website of US Naval Institute, has created a controversy by posting an article that says, "China sends uninvited spy ship to Rimpac" (Rim of the Pacific Exercise). Quoting anonymous sources, the article says, "the ship was operating south of the Hawaiian island of Oahu, near the USS Ronald Reagan (CVN-76) carrier strike group (CSG) and the main body of the 50 ships participating in the exercise".

A globalizing China benefits world

Globalization can be understood as an actual historical process toward a structural convergence in economy and politics among nations in their ever-increasing interaction and interdependence, with the consequences of such convergence having an impact on their social and cultural spheres. It is generally understood that China has been rapidly globalizing and that a globalizing China has been a primary catalyst for improving living standards in many parts of the world.