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Follow the Debate - Yuan Revaluation and Internationalisation News Archive June 2011

 

Follow the Debate

Yuan Revaluation & Internationalisation

You can scan the Articles over time and see it evolve and change

 

 

 

 

 

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

 

 

 

China Daily   27/6/2011

Experts: China's yuan will go global

BEIJING - China's timing for realizing the yuan's full convertibility into other currencies is already mature enough to facilitate yuan's internationalization, and the country will be able to liberalize currency exchange rates in three years, a leading economist said on Sunday.

 

Caixin Online   24/6/2011

Central Bank Confirms Yuan FDI Pilot Program

Yuan-denominated foreign direct investment has been in use since the release of a Ministry of Commerce document in March, which clarified application procedures

(Beijing) -- The People's Bank of China, the country's central bank, on June 21 said that a program for yuan-denominated foreign direct investment (FDI) on the mainland is currently in the pilot stages and related rules will be issued by the end of the year.

 

The Wall Street Journal   22/6/2011

No Appreciation for the Rising Yuan

It's been a year since the yuan's peg to the dollar ended. So what's been achieved?

 

People's Daily   21/6/2011

China sets yuan at record high to tame inflation

China is set to let its currency, the yuan, to gain in value against the dollar and better reflect market forces after the currency rose 5.5 percent in a whole year after Beijing restarted its liberalization on June 19, 2010.

On Monday, the yuan continued its trajectory of appreciation, as the central bank set the central parity rate – or official exchange rate – at 6.4696 per US dollar, which gained by 20 basis points from Friday.

 

The Wall Street Journal   16/6/2011

China Moves Closer to Letting Foreign Banks Underwite Yuan Bonds

BEIJING—China is moving closer to allowing foreign banks into the potentially lucrative business of underwriting yuan-denominated corporate bonds, as Beijing seeks to develop the country's debt capital market.

HSBC Holdings PLC and Citigroup Inc. are among the foreign banks being considered for a license by the People's Bank of China, according to people familiar with the matter. It wasn't known how many other banks are being considered or when a decision could be made ...

 

China Daily   14/6/2011

Rules set for yuan FDI by end of year

HONG KONG - China will issue rules on yuan-denominated foreign direct investment (FDI) into the mainland before the end of the year, a move that will allow easier repatriation of the Chinese currency according to the Hong Kong Monetary Authority (HKMA).

"Once the new rules come out, it will provide a greater degree of certainty and easier access by investors when they have renminbi funding in Hong Kong and elsewhere," said the HKMA's Chief Executive Norman Chan.

China, the world's second-largest economy, will grow 9.5 percent this year, according to economists surveyed by Bloomberg. This is luring investment and boosting capital inflows that add to China's record $3 trillion of foreign-exchange reserves, and hampering central bank efforts to limit gains in real estate and the price of consumer goods.

See Kaixin's - ECONOMIC CHINA

 

Caixin Online   13/6/2011

Flying Yuan and the Hong Kong Landing Strip

An exclusive interview about the Chinese currency with Norman Chan, chief executive of the Hong Kong Monetary Authority

The yuan market in Hong Kong is growing rapidly. But looming as large as the city's swelling yuan-based bank accounts are questions about the currency's mainland backflow and quest for global acceptance.

 

People's Daily   11/6/2011

Call for yuan to become more freely convertible

The yuan needs to be more freely convertible and widely used in global trade in order to be included in the special drawing rights (SDR) basket of the International Monetary Fund (IMF), John Lipsky, acting managing director of the IMF, said on Thursday.

"It is agreed that the renminbi is likely to become a candidate for inclusion in the SDR basket," Lipsky said at a news briefing in Beijing. "But it needs to become more freely and widely used in international transactions."

 

The Wall Street Journal   9/6/2011

Beijing Allows Bank of China to Bring Yuan Back to Mainland

BEIJING—Bank of China Ltd. has received its first approval to bring yuan it accumulated offshore back to mainland China, in a rare move that is part of Beijing's plan to promote the global trading of the country's currency.

 

Caixin Online   9/6/2011

Hong Kong Slips on Yuan's International Road

Banks in Hong Kong are brimming with yuan, but the currency's go-global journey isn't exactly paved with gold

Yuan-denominated bank deposits in Hong Kong could rise to 1 trillion yuan by the end of the year, nearly double the 510 billion yuan peak reached in late April, according to market analysts.

 

The Age   7/6/2011

Yuan to join Travelex list


THE prospect of a fully exchangeable Chinese currency will move a step closer this month when Travelex offers business customers the chance to trade directly with authorised Chinese companies.

 

People's Daily   7/6/2011

China's capital market faces three problems: CSRC expert

China's capital market faces three problems namely marketization, market structure and cultural factors, a senior official with China Securities Regulatory Commission (CSRC) has said.

Marketization should be promoted as the country's stock exchanges still lag behind global ones in terms of marketization, said Qi Bin, director of the CSRC research center.

Capital market structure should be improved. Bond market volumes in developed countries usually are double that of stock market volumes, but in China the bond market volume is only half that of the stock markets' volume, Qi said.

The third factor should be cultural ones, Qi said.

See Kaixin's - ECONOMIC CHINA

 

Caixin Online   3/6/2011

For Yuan, Convertibility Countdown Starts Now

Soon the yuan will be basically freely convertible and more widely accepted as an international reserve currency

People's Bank of China Governor Zhou Xiaochuan recently said China's foreign exchange reserves are too high. A fundamental solution to the problem, I think, lies in making the yuan freely convertible and adding it to the basket of international reserve currencies.

I remain optimistic about the yuan becoming basically convertible during the 12th Five-Year Plan period ...

 

The Wall Street Journal   3/6/2011

China's Banks Prepare for Yuan Rush

Chinese banks are racing to build up their yuan deposit base in Hong Kong by tapping its flourishing debt market, as they expect a potential rise in demand outside the country's borders for loans denominated in China's currency.

 

CCB Boss Sees a Freer Yuan

Guo Says Currency Could Be Almost Fully Convertible in Five Years; Housing 'Bubble'

BEIJING—China is likely to significantly accelerate the opening of its currency system in the next five years as the government seeks to make the yuan more widely used internationally, China Construction Bank Corp. Chairman Guo Shuqing said.

In an interview, the head of China's second-largest bank by assets and its biggest mortgage lender acknowledged a bubble in China's housing market, but argued that limited leverage in the property sector would curb the impact of any downturn in prices. And Mr. Guo, who is tipped by some analysts as a possible future chief of China's central bank, emphasized the need for ...

 

 

The Myth of the Internationalisation of the Yuan

by

Chi Lo

CEO of HFT Investments Honk Kong

(4Mb PDF File, allow time to download)

Kaixin OpEd: In reponse to the article

 

Thirty years does not rate as an itch on a rhinoceros’s bum

Beijing has always stated clearly and consistently that China is a developing Economy …. of course it is not strong enough or developed enough to take on the role of a reserve currency.

The people who question this stance, that China is a developing economy, seem to take a schizophrenic approach to China. On the one hand they strenuously demand that China take an international role as the worlds second largest economy. They often demand all sorts of things and all too often show a profound ignorance of China. On the other hand they snigger at China’s first steps to internationalise the Yuan: China, they say, does not have a fully developed economic, bond or banking structure. Its current account is not fully convertible.

Of course its not. The tiny panda bear would be torn to shreds by that rather large and powerful American Eagle if it ventured onto the playing field too soon.

Beijing is clearly taking small steps towards the internationalisation of the Yuan. Whether that results in the Yuan becoming a reserve currency is perhaps not the immediate concern of Beijing.

For the moment bi-lateral trade agreements include the use of the Yuan as a medium of exchange.

That is enough for to be getting on with.

Time frames are important.

The ‘west’ seems to take a caffeine approach. All jerky and immediate.

China seems to take a tea approach. Considered, quiet and patient. A good conversation and a cup of tea in the garden, that is what life is all about.

Discussing a poem by Li Bai beside a pond filled with gold fish (yes, I deliberately separated gold and fish ….. think about it).

Sending a servant out to deal with those impatient tradesmen from across the seas, the wai guo ren, in particular the impatient beautiful ones.

China has been around for around 5,000 years or so. The detail is not relevant and can be debated. The fact is that China has been around for 1,000s of years.

The dark period under Mao does not define China.

In terms of China’s history, thirty years does not rate as an itch on a rhinoceros’s bum.

The rise and rise of China since 1979 has been stellar.

That rise will continue, but it will slow down.

The economic potential of 1.4 billion people has not yet been seen on this planet.

The economic potential of rural China has never been tapped.

The oft reported reply by Zhou Enlai, when asked for his assessment of the 1789 French Revolution - "It is too early to say" is perhaps not fully understood.

Three hundred years is not long in terms of China’s history and it shows clearly the time frames Zhou Enlai considered relevant.

Also, perhaps the French experiment in communism has not yet been played out …. in terms of thousands of years. Perhaps it kicked something off and got the ball rolling, perhaps the ball is still rolling. After all, communism comes at the end of capitalism and capitalism is till the dominant economic philosophy ……. at this time in history.

While the servant deals with the tradesmen, China will contemplate Li Bai and allow things to develop at their own pace.

The outcome is both inevitable and full of possibility.

Where will the Elephant and the Bear be at the end of the 21st century?

Will Europe’s changing demographic demand an about face towards Mecca?

Will the Eagle moult or grow stronger …… or show some maturity and learn to share the planet. (Note: 30 years, 50 years and the rhinoceros’s bum – America has only been a world power for 50 years or so. China was the dominant economic power for 18 of the past 20 centuries.)

 

The Wall Street Journal

Get Ready: Here Comes the Yuan

The rise of China's currency could reshape the global monetary system— and fundamentally alter the world's main engine of growth

The wall is starting to crack.

For years, China has made it tough for capital to flow to and from its economy, the second-largest in the world. Now, the government in Beijing is forging ahead with a campaign to bring the yuan onto the world stage—and breaches are appearing in that formidable financial barrier.

 

What's the Yuan Worth?

Yes, it's undervalued. But perhaps not as much as often assumed.

For years, U.S. politicians and economists have groused about China's heavily undervalued currency. But their case may not be quite as clear-cut as it once was.

 

Were China's Leaders Conned?

Zhou Xiaochuan may have made internationalization of the yuan sound so attractive that others didn't know what they were agreeing to

BEIJING—China's central bank governor, Zhou Xiaochuan, played a big role in convincing China's leaders in 2009 to try to make the yuan an international standard. The unanswered question: Did Mr. Zhou, a reformer, trick them into it?

 

It's a Long Haul to the Top

The yuan as No. 1? History offers a cautionary note.

An ascendant economic power pushes the world to use its currency rather than the main international coinage, eventually upending decades of monetary world order.

Sounds a lot like the trajectory some say China is on today. It was also the case nearly a century ago, when the U.S. was the world's rising economic star. The dollar thrust onto the global economic scene, eventually supplanting the British pound as the world's dominant reserve currency, used widely in trade and finance and kept by central banks as a store of value.

The dollar's dominance was cemented at Bretton Woods in 1944- Hulton Archive/Getty Images

 

The Corporate Shuffle

As the yuan strengthens, global companies scramble to adjust

The strengthening yuan is a bane for some U.S. companies doing business with China—but a boon for others.

 

Wealth Managers Have Yuan Signs in Their Eyes

Private banks and wealthy investors are angling for the next big currency trade: the Chinese yuan.

The long-anticipated liberalization of the Chinese currency and possible easing of China's capital controls in the coming years are creating a historic business opportunity ...

 

The Chinese Test Kitchen

Hong Kong has let officials prepare for a more global currency

HONG KONG—The success of the yuan outside China's borders stems in large part from its special relationship with this former British colony and chief laboratory for Chinese monetary innovation.

 

Banks Gear Up for Growth—and More Competition

BEIJING—Big foreign banks are betting on rapid growth in the market for yuan-denominated financial products both in mainland China and offshore.

 

Singapore Has a Leg Up In Trading-Hub Race

BEIJING—As China continues its push to expand trading of its currency outside the mainland, Singapore has emerged as the strongest contender to become the next offshore yuan-trading hub after Hong Kong.

See Kaixin's - YUAN REVALUATION & INTERNATIONALISATION

 

The Myth of the Internationalisation of the Yuan

by

Chi Lo

CEO of HFT Investments Honk Kong

(4Mb PDF File, allow time to download)

Kaixin OpEd: In reponse to the article

  

Thirty years does not rate as an itch on a rhinoceros’s bum


Beijing has always stated clearly and consistently that China is a developing Economy …. of course it is not strong enough or developed enough to take on the role of a reserve currency.

The people who question this stance, that China is a developing economy, seem to take a schizophrenic approach to China. On the one hand they strenuously demand that China take an international role as the worlds second largest economy. They often demand all sorts of things and all too often show a profound ignorance of China. On the other hand they snigger at China’s first steps to internationalise the Yuan: China, they say, does not have a fully developed economic, bond or banking structure. Its current account is not fully convertible.

Of course its not. The tiny panda bear would be torn to shreds by that rather large and powerful American Eagle if it ventured onto the playing field too soon.

Beijing is clearly taking small steps towards the internationalisation of the Yuan. Whether that results in the Yuan becoming a reserve currency is perhaps not the immediate concern of Beijing.

For the moment bi-lateral trade agreements include the use of the Yuan as a medium of exchange.

That is enough for to be getting on with.

Time frames are important.

The ‘west’ seems to take a caffeine approach. All jerky and immediate.

China seems to take a tea approach. Considered, quiet and patient. A good conversation and a cup of tea in the garden, that is what life is all about.

Discussing a poem by Li Bai beside a pond filled with gold fish (yes, I deliberately separated gold and fish ….. think about it).

Sending a servant out to deal with those impatient tradesmen from across the seas, the wai guo ren, in particular the impatient beautiful ones.

China has been around for around 5,000 years or so. The detail is not relevant and can be debated. The fact is that China has been around for 1,000s of years.

The dark period under Mao does not define China.

In terms of China’s history, thirty years does not rate as an itch on a rhinoceros’s bum.

The rise and rise of China since 1979 has been stellar.

That rise will continue, but it will slow down.

The economic potential of 1.4 billion people has not yet been seen on this planet.

The economic potential of rural China has never been tapped.

The oft reported reply by Zhou Enlai, when asked for his assessment of the 1789 French Revolution - "It is too early to say" is perhaps not fully understood.

Three hundred years is not long in terms of China’s history and it shows clearly the time frames Zhou Enlai considered relevant.

Also, perhaps the French experiment in communism has not yet been played out …. in terms of thousands of years. Perhaps it kicked something off and got the ball rolling, perhaps the ball is still rolling. After all, communism comes at the end of capitalism and capitalism is till the dominant economic philosophy ……. at this time in history.

While the servant deals with the tradesmen, China will contemplate Li Bai and allow things to develop at their own pace.

The outcome is both inevitable and full of possibility.

Where will the Elephant and the Bear be at the end of the 21st century?

Will Europe’s changing demographic demand an about face towards Mecca?

Will the Eagle moult or grow stronger …… or show some maturity and learn to share the planet. (Note: 30 years, 50 years and the rhinoceros’s bum – America has only been a world power for 50 years or so. China was the dominant economic power for 18 of the past 20 centuries.)

 

The Wall Street Journal   31/5/2011

Has China’s Yuan Drive Taken a Wrong Turn?

China’s effort to make the yuan an international currency is running into complications, including the deeply ironic outcome that it is actually boosting the country’s massive stockpile of foreign currency. As awareness builds of these unintended consequences, prominent voices are now calling on Beijing to take a step back and slow the pace of yuan internationalization.

 

HSBC Expands Yuan Offerings to Australia

HSBC Holdings PLC plans to offer customers in Australia yuan-denominated financial products as part of the bank's efforts to roll out services using China's currency across the region.

 

HSBC: Room for More Yuan Trade Settlement

BEIJING—Nearly eight in 10 companies in mainland China that have yet to use yuan to settle cross-border transactions are planning to use it sometime in the future, a survey released Sunday by HSBC shows, suggesting ample room for further growth in the international use of the currency.

Use of the yuan to settle international transactions is growing rapidly, rising to around 7% of total foreign trade in the first quarter of 2011, up nearly 20 times compared with the same period a year earlier, partly due to strong encouragement by the Chinese government.

On the back of that momentum, HSBC ...

 

 

 

China Themes

Green China

Economic China

Yuan Revaluation & Internationalisation

China Real Estate

 

 

 

 

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

 

 

 

 

 

 

 

Set in Zanzibar in 1910, it is the story of two people from different worlds falling in love. Susan immerses herself in Zanzibar. Asim falls in love with this woman from the nation that killed his wife. Susan is a spy. Asim is the chief advisor to the Sultan of Zanzibar. Germany and France are holding secret negotiations to form a Pan European alliance, which would isolate Britain and destroy her power. Susan and Asim are caught up in all this and their love is finally dashed on the cold, hard reality of international high politics.

 

 

Available on Amazon's Kindle $4.99 - Over 400 Pages

 

 

 

 

 Chapter One

Zanzibar

'A maharaja’s ruby cast on a Persian carpet by the blackest of hands'

 

 

Their souls danced, honouring his promise.

The ancient dhow stirred in the soft morning breeze. Like a sleepy lion, it began to move through the water, snuffling about the other boats on the harbour; some scurrying, some at anchor, some darting before a brief gust of wind. The lateen sails a bustling panorama of blood-red and sun-bleached white.

Aft, the woman's eyes searched the skyline, drinking in the architecture of Stone Town, the heart of Zanzibar; its jagged, cluttered silhouette so familiar, so much a part of her soul.

Abruptly, her eyes ceased their restless searching, jagged by an invisible hook, transfixed by the grand buildings on the northern shore, Beit-al-Ajaib, the House of Wonders, Palace to the great Sultan of Zanzibar. The distinctive architecture captured in the tropical light: coconut white outlined by contrasting shadow plays of pepper black.

A smile, ever so slight, started to play on the edge of her mouth then disappeared. A memory that should have been fond instantly turned to sharp unbearable pain. Her eyes hardened and moved on.

Without warning the captain threw the rudder over. Stumbling, the woman barked her shin on a wooden box, a rough-hewn coffin. She recoiled, knocking over an untidy stack of cane baskets. Imprisoned in the baskets, rusty cockerels, their scruffy heads straining through the latticework, snapped at her, cried out to her; their raucous din overwhelming her, drowning her.

Dimly, through the fog of noise, the strident swearing of the sailors in Kiswahili seeped into her conscious. Understanding, she smiled mirthlessly.

The coffin had been carelessly stowed, a chore, rather than a labour of respect or love.

 

 

 

 

London 1910

 

“Hello, who are you? I am Oliver, is Edward at home?”

The words were spoken by a tall, impeccably dressed young man as he rushed into Edward’s flat shaking off surplus water and calling for whisky while shoving his umbrella into a stand. It was a blustery, grey, bitterly cold February afternoon in the heart of London. He brushed a curl of soft auburn hair from his forehead and smiled charmingly.

Susan laughed, her hazel eyes dancing with the exhilaration of the new. “Yes, he is having a bath. I think he is trying to get warm. I’m Susan, Susan Carey, his sister.”

“Ahhh yes, from Australia. How do you do?” said Sir Oliver, smiling broadly and offering his hand. He noticed the laughter in her eyes, and the depth, particularly the depth, intensified by jade flecks that made them striking and alluring. “So, you have arrived, good trip I trust.”

“I am very well thank you, and yes, it was a good trip,” replied Susan.

He laughed and glanced at the sitting room, “whisky?”

“Oh, I’m sorry, please come in…….. that was silly of me, after all, it is your flat.”

Oliver smiled and gestured for Susan to lead the way. He followed her into the room, and after helping himself to a generous portion of whisky, walked over to the fire.

Shortly after, Edward, wrapped in a huge ruby-coloured dressing gown and wiping soap from his ear strode into the room. He was of similar age to Oliver, late twenties, well built, if slightly podgy, with dark auburn hair and a full moustache. Susan looked up and smiled to herself, she could see now where he had picked up some of his new mannerisms.

“Thought I could hear voices. I see you two have met, no need for introductions then.”

As he was speaking, Edward walked to the side table and grabbed a whisky decanter by the neck. He glanced at Oliver who nodded. A long finger snaked into one of the tumblers followed by the distinctive clink of crystal. He swept the decanter off the table and carried it to where Oliver was sitting. After pouring the whisky, he sank into a lounge chair and sipped from his glass, enjoying the warm glow as it spread through his body.

Suddenly he sat up exclaiming, “Sorry sis, would you like something to drink?”

“Kind of you to remember, but no thank you, and yes, Oliver has already inquired.”

Edward nodded and sank back into his lounge chair.

They chatted, tentatively at first, getting to know one another. Edward had not seen Susan for two years and was unsure how his sister would take his new relationship. Oliver was intrigued by Susan. An attractive, self-assured young lady of high intelligence with a degree was a rare find. And, as fate would have it, she was also a trained and experienced teacher. He suggested a picnic at Oxford, which was met with ready acquiescence. Arrangements were made for the following Sunday.

“I’ll see if the Rolls is available,” mused Oliver. “Must ring father, haven’t spoken to him in ages.”

Oliver, Sir Oliver Marchmaine, was an unaffected young man of intense intelligence who saw life as a great adventure to be lived to the full. He was also unyieldingly loyal to his country, England, which is why he had joined Military Intelligence on leaving Oxford.

It was 1910 and Europe was stirring. It was a time full of interest, intrigue and danger. The European chessboard was becoming increasingly complex, the moves more subtle. A time when an unexpected move or feint could have profound consequences.

 

 

Regaining her balance, the woman’s eyes were drawn, hesitantly at first, resisting back to Beit-al-Ajaib. She wondered if it was still the same. Still the same centre of power and intrigue that had been so much a part of her life all those years before; that had defined her life.

She remembered those first few moments, remembered standing in the foyer of the palace, .………… remembered the breathtakingly beautiful Persian tapestry ........

The sea breeze stirred her clothes. She smiled a little sadly, and in her mind the tapestry gently swayed. Two small apparitions ran giggling up the stairs: two small exquisitely rich burkas disappearing along the first floor landing. Childish squeals of mischief and joy left in the air.......

“Move to seaward, you accused of Allah! Move!”

Her thoughts were clawed back to the dhow, the captain crashing the tiller over to avoid another boat on the crowded harbour. The woman instinctively ducked her head to avoid the heavy boom as it swung over her, the rusty cockerels squawked their raucous indignation, their heads straining through the latticework, relentless.

The collision avoided, the dhow continued on its way. The cacophony dying down to the occasional command by the captain or the cry of a seagull.

The woman's thoughts returned to Beit-al-Ajaib

  …………. laughing and giggling, girls of seven or eight. A door on the first floor slammed and all sounds of them disappeared. Silence. The woman smiled. She could see herself, a young woman, dressed plainly, unselfconsciously, her sexuality tantalisingly just out of reach, hidden beneath the thin veil of her clothing. She remembered standing alone in the foyer, looking around, perplexed. Asim came through a door to the left of the tapestry.

“Salaam.”

The woman started and looked around. Then, realising, was cold again. Alone again. Alone, rocking to and fro to the rythm of the sea. Alone, beside a rough-hewn coffin.

 

 

 

 

 

Now Available on Amazon's Kindle $4.99 - Over 400 Pages

 

 

 

 

 

 

 

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"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

 

 

 

ChinaLoveCupid/ChineseLoveLinks - Serious Chinese Dating Relationships

 

Books by the Editors

 

Set in Zanzibar

'A maharaja’s ruby cast on a Persian carpet by the blackest of hands'

 

 

Chapter One

London 1910

“Hello, who are you? I am Oliver, is Edward at home?”

The words were spoken by a tall, impeccably dressed young man rushing into Edward’s flat, shaking off surplus water and calling for whisky while shoving his umbrella into a stand; a shaggy grey Irish wolfhound, impeccably dressed by savile row.

Susan laughed, her hazel eyes dancing with the exhilaration of the new. “Yes, he is having a bath. I think he is trying to get warm. I’m Susan, Susan Carey, his sister.

...

They chatted, tentatively at first, getting to know one another. Edward had not seen Susan for two years and was unsure how his sister would take his new relationship. Oliver was intrigued by Susan. An attractive, self-assured young lady of high intelligence with a degree was a rare find. And, as fate would have it, she was also a trained and experienced teacher. He suggested a picnic at Oxford, which was met with ready acquiescence.

“I’ll see if the Rolls is available,” mused Oliver. “Must ring father, haven’t spoken to him in ages.”

Oliver, Sir Oliver Marchmaine, was an unaffected young man of intense intelligence who saw life as a great adventure to be lived to the full. He was also unyieldingly loyal to his country, England, which is why he had joined Military Intelligence on leaving Oxford.

It was 1910 and Europe was stirring. It was a time full of interest, intrigue and danger, the European chessboard becoming increasingly complex, the moves more subtle. A time when an unexpected move or feint could have profound consequences.

...

The woman smiled to acknowledge Asim’s greeting, his eyes looking directly at her from within the folds of an impossibly white kufiyya. A peregrine falcon: lean, intense, beautiful, with a hunter’s gaze.

“You were sent by Sir Edward Clark?” asked Asim.

The question was direct, intended merely to ascertain the relevant information. He did not respond to her femininity. Did not glance she remembered, allowed herself to remember. The counterpoint between the masculine and the feminine was missing. Something in him, that part of him, had withered to the point of extinction. She did not know that then. That was to be part of her journey.

“Yes, my name is Susan, Susan Carey. I am the teacher.”

 

$US4.99

 

 

Pick'n Season

Short stories on a theme set in Tasmania, Australia

Where style and story telling are explored.

$US2.99

 

 

The Cultural Revolution through my Eyes

By Zhou Xiaosui

$US2.99

I was born in 1966, the year China the Culture Revolution began. My mother told me when I was just born that a nurse held me in her arms and said, "come, look at this girl, she is so pretty, her eyes are so big". Another nurse who was in the room standing in front of the window, said, "come here and look at the people marching down the street wearing high caps!"

They were the people the Gong Chan Party (The Communist Party) had branded as counter-revolutionary. They were being marched down the street as an example.

This is the story of my life, and my family's life, in the time of the Cultural Revolution. I hope you will be interested in seeing China through my eyes.

 

Chapter One

I was Born in this Time

This was a time of unrest and uncertainty. A time that was to last for 10 long years and profoundly affected my family.

Just after I was born, the Government accused my father of being a counter-revolutionary because his family had moved from China and all lived overseas. So he lost his job as a teacher. He wasn’t allowed to work and had to stay at home reflecting on what he had done wrong. This was bad for my father, but it was good for me. My father could look after me at home, and over the early years of my growing up I became very close to my father who was also my first teacher.

I remember, he hung a blanket by the four corners to become a hammock, and he put me inside. He would rock me to and fro when I cried or became restless. He needed to write two pieces for the Government about his thinking and saying sorry that his family left China and lived overseas. He also had to embroider a Mao Zhengdong photo.

Just like this, my father looked after me and finished his thinking “reconstruct”.

My parents told me I was a lambkin, a fat lot cry. My father really loved me. At that time, no-one listened for him, so he talked to me everyday. He talked and talked and I laughed and laughed. My father said he looked at me and I made him so happy.

By the time I was one year old, I had worn out four blankets!

When I was one year old, my father who had lost his job as a teacher, had to go to a Government building company to become a general labourer. It was very hard work for a teacher. At night he had to go to re-education meetings. When I was older and started to understand something of what had happened in my family, my sister, who is six years older than me, told me, “in this time, many nights she saw my father come back from the meeting with bruises and wounds all over the body." These had been inflicted by the Hong Wei Bing. My mother, who was a Doctor, cried and helped my father clean the wounds. These beatings went on night after night, my father wanted to die. My mother told him, “I need you, your two children need you, they need to have a father, you must live!’

Hong Wei Bing: Hong = red; wei = to guard, to protect; bing = soldier

In Chinese culture, ‘hong’ is lucky and represents good.

The Hong Wei Bing was the Communists Party’s youth cadre. It was made up of students in high school aged between 12 and 18. They were given authority over any person branded as a counter-revolutionary. They were, of course, too young and callow to be given that much power, so they abused it. It would be like giving the students at your local High School authority, without boundaries, over anyone in your town who did not seem to conform, including their teachers.

The Government officials ran the re-education meeting with the Hong Wei Bing.

The Hong Wei Bing harassed anyone who was at the meeting. Asking questions like, ‘Did you do the bad thing for the Government, for Mao?’, ‘Do you love Mao?’, ‘Why does your family live overseas?’ ………… questions that had to be answered quickly and with enthusiasm. If the Hong Wei Bing were not satisfied with the answer, or even if they did not like your demeanor, of if they just wanted to hurt you, then they would beat you up. Many people died from these beatings.

My father did not, he lived.

 

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My Father's Wisdom

By Zhou Xiaosui

I was born in 1966, the year China the Culture Revolution began. My mother told me when I was just born that a nurse held me in her arms and said, "come, look at this girl, she is so pretty, her eyes are so big". Another nurse who was in the room standing in front of the window, said, "come here and look at the people marching down the street wearing high caps!"

They were the people the Gong Chan Party (The Communist Party) had branded as counter-revolutionary. They were being marched down the street as an example.

These are some of the stories my father taught my in this time.

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