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World Bank is poison for China: activist A Chinese
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World Bank is poison for China: activist
A Chinese political activist has sharply criticized the World Bank’s report that says China should privatize its state-owned businesses, describing it as “poison.”
Du Jianguo made the remarks during a press conference by World Bank President Robert Zoellick at the bank’s Beijing headquarters on Tuesday.
“State-owned industry should not be privatized,” Du shouted as Zoellick was talking, adding, “this report from the World Bank is poison.”
On Monday, the World Bank released a new report entitled China 2030: Building a Modern, Harmonious, and Creative High-Income Society, which said China should move away from an economy powered by state-owned businesses to private enterprise in order to create a market economy.
The report, co-authored with the Chinese Development Research Center, also said that China needs to implement serious economic and labor reforms.
Du was removed from the conference room but continued his protest outside, where he claimed that the World Bank was corrupting China’s banking sector so much that it was beginning to resemble Wall Street.
“Do they want Chinese banks to turn into liars and parasites?” said Du.
"We have no reason to accept their poison,” he said, noting, “After they ruin China, they will ruin the whole world.”
Proponents of China’s state-driven model argue that state-owned enterprises are a source of national strength and pride and should be protected.
Opponents, however, argue that greater economic liberalization and an increased focus on private enterprise will actually create more jobs in China and this path should be taken to promote growth.
MN/HGL
More From Asia-Pacific
World Bank is poison for China: activist
A Chinese political activist has sharply criticized the World Bank’s report that says China should privatize its state-owned businesses, describing it as “poison.”
Du Jianguo made the remarks during a press conference by World Bank President Robert Zoellick at the bank’s Beijing headquarters on Tuesday.
“State-owned industry should not be privatized,” Du shouted as Zoellick was talking, adding, “this report from the World Bank is poison.”
On Monday, the World Bank released a new report entitled China 2030: Building a Modern, Harmonious, and Creative High-Income Society, which said China should move away from an economy powered by state-owned businesses to private enterprise in order to create a market economy.
The report, co-authored with the Chinese Development Research Center, also said that China needs to implement serious economic and labor reforms.
Du was removed from the conference room but continued his protest outside, where he claimed that the World Bank was corrupting China’s banking sector so much that it was beginning to resemble Wall Street.
“Do they want Chinese banks to turn into liars and parasites?” said Du.
"We have no reason to accept their poison,” he said, noting, “After they ruin China, they will ruin the whole world.”
Proponents of China’s state-driven model argue that state-owned enterprises are a source of national strength and pride and should be protected.
Opponents, however, argue that greater economic liberalization and an increased focus on private enterprise will actually create more jobs in China and this path should be taken to promote growth.
MN/HGL
More From Asia-Pacific
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