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.

Who's getting rich from COVID-19?

Boris Johnson's government stands accused of 'COVID cronyism', after handing out staggering sums of money to controversial private firms to fight COVID-19. Often the terms of these deals are kept secret, with no value-for-money checks or penalties for repeated failures which cost lives. And many major contracts have gone directly to key Tory donors and allies – without competition.

As COVID rates across the country surge, how can we hold our leaders accountable? Meet the lawyers, journalists and politicians leading the charge in our free live discussion on Thursday 1 October at 5pm UK time.

Hear from:

Dawn Butler Labour MP for Brent Central and member of the House of Commons Committee on Science and Technology

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

Jolyon Maugham Barrister and founder of the Good Law Project.

Peter Smith Procurement expert and author of 'Bad Buying: How Organisations Waste Billions through Failures, Frauds and F*ck-ups'

Chair: Mary Fitzgerald Editor-in-chief of openDemocracy

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