China Now 17-08: Analysis of the Chinese reality and its actuality

teleSUR English

The China Now special program informs about this country's news.  Telesur English presents a new episode of “China Now”, a wave media's production that showcases the culture, technology, and politics of the Asian Giant.  China Now is a show that explores the past and future of the Asian Giant. Join teleSUR's community and be part of a space where your ideas matter.  https://chat.whatsapp.com/KLABTE41aSj3ioYabXQQ6K  Don't be left behind, join teleSUR's Channel https://whatsapp.com/channel/0029Va98Z437Noa2tjytCt1N Web https://www.telesurenglish.net/ X https://twitter.com/telesurenglish Instagram  https://www.instagram.com/telesurenglish/?hl=es Facebook  https://www.facebook.com/teleSUREnglishOfficial Youtube ⏯ https://www.youtube.com/channel/UCmuTmpLY35O3csvhyA6vrkg Tiktok https://www.tiktok.com/@telesurenglish?_t=8hMLCY0a6z7&_r=1

Transcript

00:00Hello, TeleCity English presents a new episode of China Now, our media's production that

00:14showcases the culture, technology, and politics of the Asian giant.

00:17In this first segment, we are going to start with the Chinese people that now have their

00:22own version of straddling, also Chinese Navy responding to provocations from Philippines.

00:27By why is China calling on the international community to help Sudan over its humanitarian

00:32crisis and more? Let's see.

00:45China Current is a weekly news talk show from China to the world. We cover viral news about

00:51China every week and also give you the newest updates on China's cutting-edge technologies.

00:57Let's get started.

01:06Welcome to China Current, your weekly news report on what's happening in China. I'm Lisa.

01:12In this episode, the Chinese people now have their own version of straddling. China called

01:18for American athletes to take more anti-doping tests. The Chinese Navy has responded to provocations

01:24from the Philippines. China calls on the international community to help Sudan alleviate

01:30its humanitarian crisis. The British Foreign Secretary plans to visit China. Let's start

01:36with the news that might worry Elon Musk the most. On the 6th of August, a Long March-6A

01:42rocket lifted off from the Taiyuan Launch Centre and carried 18 satellites into orbit.

01:48This kicks off China's ambitious project called Thousand Sails. In 2024, the project plans to

01:55launch 108 more satellites with a goal of deploying 648 satellites in the first phase.

02:02By the end of 2030, the network will offer global coverage with the ultimate aim of connecting

02:08mobile phones worldwide via 15,000 satellites, allowing you to browse TikTok in the middle of

02:14the Sahara Desert. The program is operated by Shanghai Spacecom Satellite Technology Limited

02:21and is not just about reaching remote areas. The Thousand Sails network will also enhance

02:27internet speed in regions that already have coverage. For example, satellite communication

02:33from Shanghai to New York over a distance of about 150,000 kilometers will have a latency

02:40of around 15 milliseconds. That is faster than submarine cables, which relies on multiple routers

02:46and undersea cables. The Thousand Sails project is also a more economically friendly method for

02:53developing countries to enjoy faster internet. Currently, communication base stations cover less

02:59than 6% of the global surface area. Although 5G internet is faster, the surface area provided by

03:06a 5G base station is smaller than a 4G base station. Connecting the entire world with 5G

03:13wireless network might require 10 million base stations, costing around US$220 billion

03:21in construction and US$21 billion annually in electricity fees. However, providing global 5G

03:28network service via satellite is much cheaper. For example, the second-generation Iridium satellite

03:34network costs US$3 billion and has a lifespan of 10 to 15 years and an annual depreciation cost of

03:43approximately US$300 million. China's Thousand Sails project and SpaceX Starlink plans are similar

03:50in function but have many differences. For instance, to ensure stronger 5G network signals received by

03:56mobile phones, the Thousand Sails project will lower the satellite network altitude to 300 to

04:03500 kilometers, while Starlink satellites orbit at an altitude of 550 kilometers. Additionally,

04:10all 18 satellites launched in the first batch were deployed by the Shanghai Engineering Center

04:16for Microsatellite. According to Cao Caixia, the project's chief designer, a typical satellite takes

04:23about three to five years from component procurement to satellite production, and now it

04:28can be accomplished in under two days on Shanghai's fully automated production line, which can produce

04:35over 300 satellites annually. This urge to speed up satellite production is not only driven by the

04:41desire for global connectivity but also by the pressure from the United States. Low Earth Orbit

04:47can accommodate up to 60,000 satellites and SpaceX Starlink plans to launch 42,000 of them.

04:55Under the International Telecommunication Union's first-come-first-served rule, this could limit

05:01options for non-American satellites, so the race is on to ensure that future global users

05:08have choices beyond US-controlled networks. Fortunately, this is not the first time China

05:13has faced competition to ensure fair resource distribution. In 1993, the United States agency

05:19claimed that the China-based container ship Yinghe was carrying chemical weapon materials to Iran.

05:26As a result, the GPS signal in that area was blocked, leaving the ship stranded on high seas

05:32for 33 days without supplies, including food and fresh water. A subsequent inspection by a joint

05:39Saudi-United States team concluded that the cargo did not contain any chemical weapons precursors.

05:46However, the US government stated that there would be no apology. In 2020, China completed the

05:52Beidou Network, a constellation of satellites forming a global navigation system to challenge

05:58the monopoly of the US government-owned GPS. Moving on, Chinese athletes won the same treatment for

06:04their American opponent on the doping issue. During the Paris Olympics, Chinese athletes faced

06:10an unexpected challenge. Each swimmer was subjected to an average of 5 to 7 urine tests per day,

06:18with just a few hours between each test. Over the course of 10 days, this rigorous routine

06:24has resulted in a staggering 200 tests, averaging 20 tests per day. The World Anti-Doping Agency

06:31required frequent testing in high-risk areas, typically three times a day for 75% of athletes.

06:38However, for Chinese athletes, the frequency has far exceeded the standard, with conservative

06:44estimates suggesting more than double the usual requirement. Additionally, as many as 95% of

06:51Chinese athletes have been tested. In this context, the concept of fairness becomes fairly questionable.

06:58On the 8th of August, the China's Anti-Doping Agency pointed out that the United States has

07:02never issued warning to its athletes about potential contamination from meat. Despite

07:08hundreds of positive Tremblone tests worldwide in recent years, only a small number of US athletes

07:14have faced sanctions, often escaping punishment based on claims of meat contamination.

07:20Knighton is not the only athlete who has been cleared by the United States Anti-Doping Agency

07:26under unusual circumstances. Gil Roberts, an American Olympic champion in relay race,

07:32was exonerated in 2017, claiming his positive test was caused by kissing his girlfriend.

07:39However, Roberts tested positive again in 2022, resulting in a 16-month suspension.

07:46The president of WADA has stated that the United States is one of the world's largest markets for

07:51illicit steroid and performance-enhancing drugs. And according to a recent WADA statement, 31% of

07:59US athletes were not sufficiently tested in the 12 months leading up to the Tokyo Games.

08:05Except for the American athlete doping issue, the Philippines is also on the radar. On the 7th of

08:11August, the Philippines conducted a joint military exercise with the US, Canada and Australia in the

08:18South China Sea. During the third such exercise within the past 10 days, a joint statement claimed

08:25that the exercise was intended to address common maritime challenges. Western media outlets have

08:31been quick to highlight the participation of four countries in this drill. However, the reality on

08:37the water was different. The three Chinese destroyers shadowing the exercise noted that

08:42only four ships actually participated. Meanwhile, China also organized its navy and air forces to

08:49conduct a joint patrol near Huangyan Island in the South China Sea. Unlike a similar exercise in April,

08:56Chinese state media did not disclose the specific region of this drill, giving Philippine navy a

09:02chance to practice the recognizer's skills. Considering that China's South Sea Fleet has

09:07more than 120 warships, this test may not be too challenging. The crisis in the South China Sea

09:14may be under control, but Sudan's humanitarian crisis continues. On the 6th of August, China's

09:21representatives spoke at the UN Security Council and emphasized the humanitarian situation in Sudan.

09:28With the conflict in Sudan stepping into its 16th month, China has noted the recent reports by the

09:35IPC Famine Review Committee and is deeply concerned about the humanitarian situation in Sudan,

09:41particularly the severe food crisis highlighted in the report. Since the outbreak of armed conflict

09:48in Sudan, the Chinese government has provided emergency humanitarian assistance worth US$1.37

09:54million, including 939 tons of rice. China called on the international community to take

10:02more concrete action, adding that these actions should avoid using humanitarian assistance and

10:08food security as a tool for pressure or sanctions. Next, let's focus on another international news.

10:15Following the visit of Italian Prime Minister Giorgio Meloni to China at the end of last month,

10:21the UK's new foreign secretary David Lammy also plans to visit China. According to Bloomberg,

10:28on 6th of August, Lammy is considering a visit to China as part of the new Labour government's

10:35effort to recalibrate UK-China relations. He met Chinese Foreign Minister Wang Yi in Laos

10:42at the end of July. Both of them expressed a desire to promote long-term communication.

10:48The UK government has shown its interest in mending relations with China a month ago.

10:53Before becoming the Prime Minister, Keir Starmer said his government would carry out what he

10:59described as an audit of UK-China ties as one of the first things that we will do.

11:05However, just last month, the new head of the UK army claimed they're getting prepared to fight

11:10a war with China, Russia or Iran in three years. So, the US government has to decide which agenda

11:16to prioritise if it wants to achieve a three-year trade and investment plan just like Italy.

11:22And that is all for today. Thank you for watching this episode of China Currents. If you have any

11:27thoughts or comments about our show, please reach us at the email address below. We look

11:32forward to hearing from you and see you next time.

11:34We'll go for a short break but we'll be right back. Stay with us.

12:05Welcome back to China Now. In this second segment, we have Thinkers Forum with Di Dongsheng,

12:10Professor and Vice Dean of the School of International Relations of the Ramin University

12:15of China and Heiko Berts, Economics Professor of the Neenor Business University in the Netherlands,

12:21talking about if China's economy has reached its peak. Let's have a look.

12:34Hi, Professor Di. Thank you for having this meeting and I'm looking forward to our discussion to come.

12:54My pleasure.

12:55The short-term economic development is driven by, we call that total demand in the economy,

13:06and therefore you have a sort of cyclical pattern of economic growth. Sometimes it is 4%,

13:13sometimes it is 7%, but maybe in the longer term, it is on average 5%. And so, if you are talking

13:21about whether the economy peaked or not, then I think the focus should be a little bit more

13:29on the longer term. So, what are the longer-term drivers behind economic development?

13:36Then you talk about opening up, then you talk about education, technological advancement,

13:42innovative behavior, and all these factors. And then I think you may come to another conclusion

13:50that still there is a lot of potential for the Chinese economy to continue economic development,

13:59maybe not based on labor force, maybe not based on all kinds of easy drivers,

14:07but on elements like, again, innovative behavior, productivity, efficiency,

14:13and I think there is still some room for that.

14:17Obviously, I agree with what the professor said. As you mentioned, in the short term,

14:24economic performance is driven by demand, but long-term speaking, it is driven by investment.

14:33So, it is related to competitiveness, and global competitiveness is related to your investment

14:40on which sector, and whether it is efficient, whether it is related to the technology improvement.

14:48But between them is the debt. The short-term economic growth is driven, basically,

14:56if we would, it is driven by the debt. In the past several decades, the whole world economy

15:05is driven by the debt, especially by the U.S. debt. The whole U.S. nation is either the public sector

15:12or the private sector or the company sector, or the financial sector. They expand their debt,

15:18and the whole world economy is falling, falling to ramp up. And China benefits from

15:26the growth of the U.S. debt, because as we see that some of the Japanese-owned or Korean-owned

15:36or American-owned business is moving, is diversifying their investment, diversifying

15:43the purchasing of the supply chain from mainland China to some other areas like Southeast Asia,

15:52or South Asia, or Mexico, and so on. That's something making some difference

15:59on China's economy in the recent years. But more importantly, if we look at the fact that,

16:11if we compare the economic size to the economy, to the United States and China,

16:18we have more than three times, three to four times of the size of the population.

16:26Yeah. And we have Chinese citizens who are working very hard, very diligent,

16:33at least as diligent, as hard as Americans. And we have a huge population, well-educated.

16:41So why the Chinese economy deal only 65% of the U.S.'s GDP? Yeah. That doesn't make sense.

16:51You have a bigger size of population, and the quality of the population is not poorer

16:57than the United States. So why your economy is much smaller? Yeah. So my explanation is also

17:04about the debt issue, de-globalization era, since 2008. And especially recently, the decoupling or

17:13de-globalization process is speeding up. So that hurt Chinese economy to some extent.

17:21But the problem is, I do not agree with the so-called China peak perspective. Because at

17:27the end of the day, it's not only United States, but also Chinese government could also borrow

17:33money, borrow more and more money, to put the money to improve the social welfare.

17:39From long-term speaking, I agree with Professor that still we are going to have another wave

17:49of long-term growth ahead. But the difference is, before it's driven by the U.S. expansion of debt.

17:58And in future, it should be driven by the Chinese growth of the debt.

18:03My impression is that as long as activities in the supply chain that does not create so much

18:12value added in the Chinese economy, it does not hurt the economy so much. Because you want,

18:20we want to get away from low value added assembly activities, clearly in the supply chain.

18:27So if we move on the smiling curve, away from assembly, and that these activities are moving

18:35away to Vietnam or to other places, I think that is even a positive element of the longer-term

18:43Chinese economic development. Since 1992, China introduced a lot of FDI from Southeast Asia,

18:54from Japan, Korea, and also from United States and Europe. It's a process of FDI coming to

19:05expansion the global supply chain, especially East Asian supply chain. And China was

19:13weaved into the smiling curve, as you mentioned. We were at the bottom, we were doing the

19:20processing and export, re-export industry. So the added value is really low. And hence,

19:27the Chinese people's salary and consumption is really low. That's something interrelated.

19:38But nowadays, as I mentioned, the quality of the population has improved dramatically,

19:45especially given the fact that every year we have nearly 10,000

19:54students and 60, maybe 60 percent from STEM disciplines. We have such a big,

20:04high level, or at least the middle level labor supply. But the reality is the demand for such a

20:13labor market is still structurally mismatched because we still have so many factories,

20:24but we cannot create enough jobs in the office buildings for these young kids.

20:30So hence, it's a natural process that China is graduating, I call it, graduating from this

20:38processing industry of the supply chain owned by the foreigners for global capital.

20:47So today, I'm happy to see that although the growth rate is relatively low, but the growth

20:55quality is quite high because China is doing a lot of progress in industries like car making.

21:08Not only EV cars, electronic vehicles, but also even traditional automobiles,

21:18mobile cars, traditional cars. Chinese technology and quality is substantially improving.

21:27So I can see that. And Chinese products are competitive globally.

21:33So that makes a huge difference. And we have other new products like chips, chips industry,

21:43although we were sanctioned. Nowadays, Huawei is making substantial improvement in this sector.

21:51And so I'm quite happy with the quality improvement of the Chinese economy,

21:59Chinese economy, and especially its manufacturing industry.

22:03Yeah, yeah, I fully agree with your point. And I would say in the West, we mostly we have the

22:11feeling that market forces will create these structural adjustments from low tech to high

22:20tech and that we have to give the freedom to the market and the market will result in

22:26in this type of developments. At the same time, I think what we see in emerging markets,

22:36mostly in Asia, is that of course, this may take too long. And you could even indicate that as a

22:43market failure and therefore you need government interference to make this transition happening

22:48from low skilled value added or low value added to much higher value added sectors like

22:55the electric vehicles. So I think it is quite logical from an economic point of view,

23:03that we see government interference to make this transition happening. On the one hand,

23:09we have the Western way of more or less creating economic development, which we may use the phrase

23:16of the Washington consensus, where we implement market forces and where we implement all kinds of

23:22liberalization and where you need to have a certain type of people in your system.

23:30Well, now we see clearly that we have differences worldwide and that we need to implement

23:37regional features in economic development systems. And you may refer to that as the

23:43Beijing consensus or the Mumbai consensus and also we have the South Korean growth model.

23:51And I think we need to emphasize that this Washington consensus is out of context today,

24:03also in Europe, because we more and more think that a big market also needs a big government

24:12and that we cannot have only the emphasis on market forces, but that we need to have

24:19government intervention. Do you think that this also relates to, in many cases, the middle income

24:26trap discussion? Because the idea is that to escape the middle income trap, you have to have

24:35a sort of, I would say, growth factors, which may generate increase of efficiency and productivity

24:47and to make the jump from middle income to rich income. China is on the edge now of the

24:55high middle income country towards the rich. And then it is linked to the way of innovative

25:04behavior, how you can make that jump. There, I think also you see this combination of indeed

25:13belief in market forces, but at the same time, the belief that this government

25:19interference is needed and that efficient government is needed. And if you look at

25:27countries like Brazil, you see that maybe the government is too big and therefore not efficient,

25:33while in other countries, maybe the government is too small, maybe in the US. And so finding

25:40optimum government, which fits into the stage of your economic development process.

25:48As what we see is many developing countries or many countries who get partially developed

25:57in the process of industrialization, they produce and export something, but they failed to

26:05upgrade its industry to a more sophisticated and more added value bonds. As you mentioned

26:13just now, Brazil and some of the Southeast Asia countries in 1980s and the early 1990s,

26:22they did quite well, but at the end of the last century, they failed and there was stagnation.

26:30They believed too much in the market. They ignored the importance of government.

26:35When you first get industrialized, for the first part of industrialization,

26:44the government policy should invest, should be preferential or take care of the kept owners,

26:55especially the real business owners, to help them to be competitive

27:02and inevitably at the cost of its own people's welfare. So we look back on the history of the

27:10past 200 years, including Great Britain, including mainland Europe, including the Soviet Union or

27:18many other nations. The successful industrialization process, the first part

27:25is about depriving the ordinary people's social welfare and subsidizing the manufacturing,

27:33subsidizing the export, almost inevitably. But if you do not reverse the first trend,

27:45you will be in the so-called middle income trap because, as I mentioned, if you always

27:52take care of the business owners, then the result is the overwhelming majority of preparation

28:03is too little to be able to purchase your own products. So if you want to really get a great

28:17transformation from the middle income to a high income, then you will have to put a lot of

28:24resources, compensate the ordinary people to enrich them, or not necessarily get them rich,

28:34but make them able to pay for the products, for the high quality products that they themselves

28:43made. So it's like a zigzag. First, you have to go right. The policy is to go right,

28:51a so-called political right. If it's right, you take care of the rich people, you take care of

28:57the business owners. You are depriving, inevitably depriving to some extent, your own ordinary

29:02people's social welfare. Then the second part, you should be turned left to compensate the losses

29:12of the ordinary people. At the same time, of course, you have to invest heavily

29:23on the research and development to help the ordinary business. In this process,

29:31it would be cruel to ordinary business because that means a lot of business owners will fail.

29:36The right side angle and the left side angle, they both need the government interference.

29:42So that is precisely why, what you said before, that just having the paradigm of

29:49more market and less government, and that more market means less, automatically less government,

29:56that is a paradigm which we should not follow. We should follow the paradigm of

30:03market needs government and government needs markets, obviously. This type of pragmatism,

30:13how to implement government policy in a very pragmatic way, sometimes to the left,

30:20sometimes to the right, I think is also a key element in making this jump to

30:28and away from the middle-income trap. Everybody is competing, climbing the ladder,

30:34and only very few people, very few nations are able to climb to the highest place.

30:42That's my framework of understanding. It's not necessarily a natural right. It's not the right

30:52rights for every nation to get developed. That may be an annoying expression. Maybe

31:06you're not that much correct, but only very few nations at the top are able to produce high

31:15quality, high end value products, and have the so-called technological monopoly position,

31:24very beneficial, and enjoy a high life quality. But there's always many nations so-called trapped

31:35in the middle, because of various reasons. For example, some of the nations, because

31:43the industry will be destroyed by the resource, like Russia, like Middle East countries,

31:51like even South Africa, or Brazil. Maybe some other countries for different reasons, because

32:00they failed to turn left from the tipping point, turn the policy to the left, to help the poor

32:07people, to enrich them, to make a society flat and equal, and more fair. And maybe some other

32:15countries, because their political system is unable to absorb the global shock, for various

32:26reasons. But at the end of the day, there will always be many nations trapped in the middle,

32:31for various reasons. I don't think that there's a final answer to what is the right thing to do.

32:37But we definitely could point out a lot of bad things, a lot of wrong things, that many countries

32:44could make to make themselves stagnate during the development competition. And maybe we also

32:53put sometimes too much emphasis on indicators like GDP for economic development, and then

32:59that emerging market with a low GDP per capita may be very happy, or maybe having a relatively

33:07high bank in the human development index. So in that sense, maybe the whole GDP discussion

33:17also relates to the middle income discussion, or the middle income trap discussion.

33:21I agree with you that GDP is very misleading, because it mixes the tradable goods with the

33:29non-tradable goods. Now, the tradable outputs and the non-tradable outputs, they perceive them

33:35as something the same. But in my framework of understanding the whole world, especially the

33:41economy, how the society runs, how they compete with each other, the non-tradable sector should

33:49not be perceived as real economic activities. I perceive non-tradable sector like, for example,

33:57services in the restaurants, services in the health cutting services, that kind of things,

34:04they should not be perceived or counted as wealth creation. They should be perceived as

34:14wealth redistribution, because having a haircut by someone in the neighborhood

34:23is non-tradable. The price depends not on the service quality, but only depends on the average

34:35income of this neighborhood. So get your haircut in your hometown, for example, in Amsterdam or in

34:45Hague, it should be 20 or 30 euros, am I right? Today even 40 euros, yes. 40 euros. But

34:59having my haircut in a city like Beijing is, let me count, maybe 5 euros.

35:10Maybe 5 euros. Okay. But if the same barber is the guy who has,

35:21yeah, the serviceman, and the same customer, the same process of labor, the same service,

35:28if the place moves to Africa, to South Asia, you see, the price could be 40 times the difference.

35:38Why? It's mainly because it's only a process of redistribution amongst neighborhood

35:48members, instead of real creation wealth. So any nation, my observation is, my conclusion is,

35:55any nation, if you want to get your economy developed, you will have to get something

36:01tradable, yeah? Get something tradable, be competitive in at least one tradable sector.

36:07Now, for example, manufacturing, of course, we all know. But some other sectors,

36:15like financial sectors, finance. Finance is also tradable, of course. Now,

36:22finance service is also tradable, of course. It also could enrich your region or your country.

36:28Now, of course, it has shortcomings. And even like gambling in the casino industry.

36:39Gambling in the casino industry, although moral is bad, at least in East Asia,

36:45as a standard, it's a really bad thing. But it's also a tradable sector,

36:49because it will help that region to get money, to make money from other regions.

36:56Then you could get rich by these sectors. But in today's GDP calculation, it's really misleading,

37:06because you put this tradable sector and a non-tradable sector together. That's my framework.

37:13I fully understand your way of thinking. And we, as economists, we always make that distinction

37:22between, let's say, the GDP per capita in nominal terms and the GDP per capita in purchasing power

37:28parity, to make sure that the lower price of the haircut in China should increase the purchasing

37:36power of the person, of the people, compared to what you normally would have in nominal terms.

37:43So we are making a differentiation between tradables and non-tradables. And we put that

37:49in the GDP per capita in nominal terms and purchasing power. But maybe in line with your

37:56view, it is not so much income earned or value added, but it is more the reallocation of income.

38:06Exactly. Exactly. That's my point. So actually, I disagree with the GDP calculation,

38:17and I do not agree with the PPP calculation, because according to some research, the PPP

38:26also misleading. Purchasing power parity is also misleading, because

38:32if you define something, if you use a PPP term, that implies that countries like India,

38:40their currency is undervalued. Am I right? Yeah. If you say PPP is, for example, India is,

38:48I don't remember right now, for example, 3 trillion US dollar economic size GDP. And if

38:54PPP is like 4.5 trillion, that implies that its currency is undervalued, like 33%, for example,

39:06or 50%, let's say. So that makes people think that potentially that Indian currency are going

39:18to be appreciating against the US dollar in the coming years. But in fact, no. I'm very sure that

39:29overwhelming majority of the currencies, including Indian rupee, is going to depreciate against the

39:37US dollar in the coming decade. Because I made some statistics about these currencies. So that's

39:45why I prefer to use the trade sector, purely trade sector, to talk about a different size of

39:53the economy and its quality, instead of the GDP or PPP. You're right, you can use the overall

40:02undervalued currency to forecast the development of the exchange rate. That is indeed also possible.

40:12But you may question mark that, because all kinds of other factors may influence that,

40:17which are not related to undervalued currency. Okay, so it's a very happy conversation. And

40:25I hope next time offline, we can meet and have a cup of coffee or have dinner together

40:30and have more discussions. Would be very nice. Thank you very much for your insights and hope

40:37indeed that we can continue in the future on this topic. Very nice. Thank you very much.

40:43Thank you very much.

40:58And this was another episode of China Now, a show that opens a window to the present and

41:03the future of the ICHI. And hope you enjoy it. See you next time.

Category

Transcript

Recommended