Home

China's modernisation and its discontents

25 November 2005

The catastrophic 50 mile toxic oil slick  that is blighting Manchuria is only one symptom of the growing problems of China's modernisation. In openDemocracy earlier this year, the deputy minister of the environment Pan Yue warned of the limits to growth that China's disastrous environmental degradation will impose. Chemical spills pass, but the degree of air and water contamination, the falling water tables, the loss of agricultural land and the creeping desertification are not easy to reverse. There is a more fundamental problem at the heart of this and other obstacles to China's political and economic health -- the turbid official reaction, the continuing preference for cover up over action, the lack of transparency and acountability in the Chinese political system that magnifies the effect of such events. In another symptom of a dysfuntional system, the Chinese government has been battling to contain the damage caused by a copper trader who placed a series of wrong bets on copper futures earlier this year.

Liu Qibing, who worked for the government entity, the National Control Center of the State Reserve Board -- buying up raw materials to feed China's building boom, thought world copper prices would fall as a result of the government's clamp down on building. He committed to buy large quantities.  But  Beijing's relaxed its ban on new projects and Chinese demand soared again, along with world prices. Facing huge losses, Beijing has been dumping copper on the market as fast as it can, to try to damp down prices and stem the losses.  Liu Qibing is not , of course, the only trader to come unstuck - remember Nick Leeson. But his downfall seems to have caused by betting on government decisions that remain secret. Perhaps as Beijing counts the cost, its leader might reflect on the fact that transparency and accountability are not just optional add ons but are necessary for a healthy economy as well as a healthy political system.

How can Americans fight dark money and disinformation?

Violence, corruption and cynicism threaten America's flagging democracy. Joe Biden has promised to revive it – but can his new administration stem the flow of online disinformation and shady political financing that has eroded the trust of many US voters?

Hear from leading global experts and commentators on what the new president and Congress must do to stem the flood of dark money and misinformation that is warping politics around the world.

Join us on Thursday 21 January, 5pm UK time/12pm EST.

Hear from:

Emily Bell Leonard Tow Professor of Journalism and director, Tow Center for Digital Journalism, Columbia Journalism School

Anoa Changa Journalist focusing on electoral justice, social movements and culture

Peter Geoghegan openDemocracy investigations editor and author of 'Democracy for Sale: Dark Money and Dirty Politics'

Josh Rudolph Fellow for Malign Finance at the Alliance for Securing Democracy

Chair: Mary Fitzgerald Editor-in-chief, openDemocracy 

Further speakers to be announced

Had enough of ‘alternative facts’? openDemocracy is different Join the conversation: get our weekly email

Comments

We encourage anyone to comment, please consult the oD commenting guidelines if you have any questions.
Audio available Bookmark Check Language Close Comments Download Facebook Link Email Newsletter Newsletter Play Print Share Twitter Youtube Search Instagram WhatsApp yourData