By a large margin, the most-read news story of the first 10 years of the 21st century is not about the Iraq war, the September 11 attacks on the US or the death of Michael Jackson. It is about the rise of China.
For China, 2009 saw the world's most populous nation begin to wield its new political and economic influence as an emergening superpower, when attention was less on its rise than it was on what the country would do now that it had arrived.
The analysis by the Global Language Monitor, based in Texas, seems to confirm what everyone has long suspected: China's rise is making an impact on ordinary people's lives and they are flocking to newspapers and websites to find out more. In many ways, this century so far has been China's.
Using the tag line Made in China. Made with the world, an advertisement on international television highlighted the way Chinese companies collaborate with foreign companies to produce high-quality goods. It shows a series of products, each with a label saying it is Made in China. This is a country looking forward after the consumer product debacles of last year.
This new confidence was most evident at the Copenhagen summit on climate change where China managed to fight its corner with the heavyweight political powers, suggesting that next year will see it continue to flex its fresh political muscle.
Zhou Chunsheng, a professor of finance at the Cheung Kong Graduate School of Business, believes the 21st century has been China's century in terms of becoming increasingly important on the international stage.
"In the 21st century, China has continued to develop at a fast speed and its influence is also maturing. But I also think the 21st century is the US century, because the US power and influence are still continuing impacting the world greatly," said Mr Zhou.
The first quarter of this year was the worst period for the Chinese economy, but what a recovery.
"Premier Wen Jiabao once said, 'confidence is more important than gold'. And I could not agree with him more. I believe in 2010, enterprises' confidence will continue to grow and they will invest more," said Mr Zhou.
"In 2009, many important events happened in China: the central government's strong stimulus plan has been carried out, and national financial investment has been enlarged greatly. Credit was expanded, China's exports went down rapidly, and economic has resumed growth, and people regained confidence for our economy."
On the basis of the statistics, Mr Zhou believes China has managed a V-shaped recovery and GDP growth of 8 per cent, or perhaps even 8.5 per cent, looks likely, and a further acceleration is expected next year.
However, Mr Zhou warned of inflationary pressures next year.
"Big credit expansion has cumulative effects. In 2010, central government's proactive fiscal policy and loose monetary policy will continue; consumption will go on growing; and the 2010 export situation will be better than 2009," he said.
Mr Zhou also expects an improvement in the export markets.
"Consumer confidence will also grow up and [people will] go on buying things. All will help China's economy. Their confidence for China's economy has already been shown in the second half year of 2009," said Mr Zhou.
The spread of China's influence is not only a great trend, but also an indisputable fact, said Sha Zukang, the UN undersecretary general for economic and social affairs.
In Mr Sha's view, the financial crisis has been an opportunity for China to get more deeply involved in the international decision-making process and to elevate its status and broaden its influence.
This has been brought home by the powerful role China played in platforms through the G2 group of the US and China, which is taking on a new significance as the world economy continues to struggle.
China's domestic demand looks set to continue to grow next year, with fixed asset investment up 25 per cent from a year earlier and retail sales up 18.5 per cent, the State Information Centre forecasts.
However, domestic consumption may not grow as quickly as it did this year considering expectations of rising inflation, Mr Sha told the Xinhua news agency.
There is real self-confidence and a new self-assurance around, which is obvious from a November 6 commentary in the People's Daily on China's GDP growth of 7.7 per cent in the first three quarters of this year and about the country being on target to maintain 8 per cent growth in the full year.
"This fully proves that the central government's economic stimulus package for coping with the international financial crisis is timely, correct, powerful and effective, and China's economy is even more dynamic," the editorial said.
"As the most direct and most important goal of the package, in the past year, China reversed the downward trend and maintained stable and rapid economic growth. Expanding domestic demand, especially in consumption, was set as a basic starting point."
With 700 million subscribers, China is the world's biggest mobile phone market. The country has more than 330 million internet users, far more than the US.
China's GDP per capita will approach US$4,000 (Dh14,694) by the end of next year, says Li Peilin, the director of the Institute of Sociology at the Chinese Academy of Social Sciences. Between 1978 and 2000, China's GDP per capita increased from less than $400 to more than $800. Look at the trajectory - in 2003, China's GDP per capita surpassed $1,000. Last year, it reached $3,000.
Last year, observers stopped wondering whether China's magical expansion would evaporate as soon as the closing ceremony of the Beijing Olympics was over, and started looking and wondering about the billions of dollars lent to the US in the form of treasury bonds.
China was a key figure this year in the effort to drag the world out of the economic mire. "Today, the Chinese economic recovery is becoming stabilised, bringing confidence and hope for the world economy and has played a constructive role in dragging the world economy out of its predicament," the People's Daily said in its editorial.
Recent visits by EU leaders, as well as President Barack Obama's maiden voyage to China, have been cordial but scratchy, and China is clearly more confident in the way it deals with the West than it was before the financial meltdown, which has hit the rest of the world much harder than cash-rich China.
The talk in China is always about 30 years of reform, but the Chinese spent most of the 1980s and 1990s trying to build a functioning economy out of the wreckage of 30 years of centrally planned dysfunctionalism.
By the turn of the century, China began to emerge, creeping into the light and has not looked back since. On the contrary, China has grown in boldness, state coffers swollen by revenues from an expanding economy.
Looking ahead to next year, there are more than a few niggling doubts about China's prospects. Many Chinese are worried about inflation and prices in many areas are certainly rising, even though official data show that consumer prices have fallen for most of this year.
Consumer prices climbed 0.6 per cent last month from a year earlier, ending a nine-month run of deflation. The country's top economic planning agency believes prices will stay largely stable next year, however. But in some parts of the country, there are rumblings of discontent about rising prices for essentials, such as garlic and rice.
And there are growing fears about an asset bubble, particularly on the property market. But the century so far has been all China's and, for most commentators, that is not going to change any time soon.
@Email:business@thenational.ae
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
COMPANY%20PROFILE
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Results
4pm: Al Bastakiya – Listed (TB) $150,000 (Dirt) 1,900m; Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
4.35pm: Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m; Winner: Walton Street, William Buick, Charlie Appleby
5.10pm: Mahab Al Shimaal – Group 3 (TB) $228,000 (D) 1,200m; Winner: Canvassed, Pat Dobbs, Doug Watson
5.45pm: Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m; Winner: Midnight Sands, Pat Dobbs, Doug Watson
6.20pm: Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m; Winner: Lord Glitters, Daniel Tudhope, David O’Meara
6.55pm: Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
7.30pm: Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m; Winner: Final Song, Frankie Dettori, Saeed bin Suroor
More from Neighbourhood Watch:
THE APPRENTICE
Director: Ali Abbasi
Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Law%2041.9.4%20of%20men%E2%80%99s%20T20I%20playing%20conditions
%3Cp%3EThe%20fielding%20side%20shall%20be%20ready%20to%20start%20each%20over%20within%2060%20seconds%20of%20the%20previous%20over%20being%20completed.%0D%3Cbr%3EAn%20electronic%20clock%20will%20be%20displayed%20at%20the%20ground%20that%20counts%20down%20seconds%20from%2060%20to%20zero.%0D%3Cbr%3EThe%20clock%20is%20not%20required%20or%2C%20if%20already%20started%2C%20can%20be%20cancelled%20if%3A%0D%3Cbr%3E%E2%80%A2%09A%20new%20batter%20comes%20to%20the%20wicket%20between%20overs.%0D%3Cbr%3E%E2%80%A2%09An%20official%20drinks%20interval%20has%20been%20called.%0D%3Cbr%3E%E2%80%A2%09The%20umpires%20have%20approved%20the%20on%20field%20treatment%20of%20an%20injury%20to%20a%20batter%20or%20fielder.%0D%3Cbr%3E%E2%80%A2%09The%20time%20lost%20is%20for%20any%20circumstances%20beyond%20the%20control%20of%20the%20fielding%20side.%0D%3Cbr%3E%E2%80%A2%09The%20third%20umpire%20starts%20the%20clock%20either%20when%20the%20ball%20has%20become%20dead%20at%20the%20end%20of%20the%20previous%20over%2C%20or%20a%20review%20has%20been%20completed.%0D%3Cbr%3E%E2%80%A2%09The%20team%20gets%20two%20warnings%20if%20they%20are%20not%20ready%20to%20start%20overs%20after%20the%20clock%20reaches%20zero.%0D%3Cbr%3E%E2%80%A2%09On%20the%20third%20and%20any%20subsequent%20occasion%20in%20an%20innings%2C%20the%20bowler%E2%80%99s%20end%20umpire%20awards%20five%20runs.%0D%3Cbr%3E%3C%2Fp%3E%0A
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How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
A%20MAN%20FROM%20MOTIHARI
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EAbdullah%20Khan%0D%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPenguin%20Random%20House%3Cbr%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E304%0D%3Cbr%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
Squads
India: Kohli (c), Rahul, Shaw, Agarwal, Pujara, Rahane, Vihari, Pant (wk), Ashwin, Jadeja, Kuldeep, Shami, Umesh, Siraj, Thakur
West Indies: Holder (c), Ambris, Bishoo, Brathwaite, Chase, Dowrich (wk), Gabriel, Hamilton, Hetmyer, Hope, Lewis, Paul, Powell, Roach, Warrican, Joseph
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
Directed by: Craig Gillespie
Starring: Emma Stone, Emma Thompson, Joel Fry
4/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
GCC-UK%20Growth
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SPIDER-MAN%3A%20ACROSS%20THE%20SPIDER-VERSE
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
