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There are flaws in Chinese Economy, says daily

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By NewsGram staff writer shanghai-skyline_economy

Beijing:  The Chinese economy does have its flaws, said a state-run Chinese daily which also added that after decades of speedy growth, the economy is bound to be slow.

An editorial “Hype against economic model unjustified” in the Global Times on Thursday said that the recent disappointing Chinese stock market performance is “unlikely to be perceived as the result of good governance of the Chinese economy. There have been excessive criticisms and complaints, which are understandable”.

It said that “some media outlets were quick to draw the conclusion that the market fall ‘symbolizes a slow-motion denouement of China’s economic and political model’, which has gone too far”.

“The stock market’s sharp fall is like a fever, but foreign media described it as a cancer. If so, the market plunge seven years ago would have ended the China model.”

The editorial said that China has emerged as the world’s second-largest economy, up from third place, and generated GDP worth trillions of dollars. “China’s economic might can be felt in all corners of the globe, especially the Asia-Pacific”.

It admitted: “The economy does have its flaws. The government has been trying to solve these problems, and at the same time society has learned to withstand them.”

“If a stock market index falls, investors now have been prepared for it. And the country’s financial institutions have made contingency plans.”

The editorial went on to say that the Western media has played up the notion that rapid economic growth has become the source of legitimacy of the ruling Party. “They reckon that an economic crisis will lead to national chaos.”

“An economic boom will boost the popularity of any regime. If the Chinese economy crumbles and people are on the edge of starvation, no regime can sustain its rule. But will periodic economic slowdowns and difficulties in adjustment hurt the legality of China’s political system? That’s a delusion,” it added.

The daily noted that after decades of rapid growth, “the economy is bound to slow”.

“This was predicted several years ago. China is facing a severe economic situation. The model of China’s development needs adjustment, and society has a consensus about this. But it is too much to hype against China’s political system.”

It is also added that many countries are facing economic difficulties, and some Western powers have even lost their growth momentum.

“Some Westerners may wish for a collapsed China and hope they can eventually benefit from it, but they forget their countries may be the ones that crash.

“Chinese people should listen to those doomsayers. At least they can remind us that China’s strategic environment is not that favourable. China should avoid its past mistakes and show a firm determination in reforms,” it added.

(with inputs from IANS)

 

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Shanghai Airport Gets Check-In With Facial Recognition Machines

Increased convenience may come at a cost in a country with few rules on how the government can use biometric data.

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Shanghai,
A U.S. Customs and Border Protection facial recognition device is ready to scan another passenger at a United Airlines gate. VOA

It’s now possible to check in automatically at Shanghai Hongqiao airport using facial recognition technology, part of an ambitious rollout of facial recognition systems in China that has raised privacy concerns as Beijing pushes to become a global leader in the field.

Shanghai Hongqiao International Airport unveiled self-service kiosks for flight and baggage check-in, security clearance and boarding powered by facial recognition technology, according to the Civil Aviation Administration of China.

Similar efforts are under way at airports in Beijing and Nanyang city, in central China’s Henan province.

Shanghai,
Face recognition tool was first launched in 2012

Many airports in China already use facial recognition to help speed security checks, but Shanghai’s system, which debuted Monday, is being billed as the first to be fully automated.

“It is the first time in China to achieve self-service for the whole check-in process,” said Zhang Zheng, general manager of the ground services department for Spring Airlines, the first airline to adopt the system at Hongqiao airport. Currently, only Chinese identity card holders can use the technology.

Spring Airlines, Shanghai said Tuesday that passengers had embraced automated check-in, with 87 percent of 5,017 people who took Spring flights on Monday using the self-service kiosks, which can cut down check-in times to less than a minute and a half.

Shanghai,
Rana el Kaliouby, CEO of the Boston-based artificial intelligence firm Affectiva, demonstrates the company’s facial recognition technology, in Boston, April 23, 2018. VOA

Across greater China, facial recognition is finding its way into daily life. Mainland police have used facial recognition systems to identify people of interest in crowds and nab jaywalkers, and are working to develop an integrated national system of surveillance camera data.

Chinese media are filled with reports of ever-expanding applications: A KFC outlet in Hangzhou, near Shanghai, where it’s possible to pay using facial recognition technology; a school that uses facial recognition cameras to monitor students’ reactions in class; and hundreds of ATMs in Macau equipped with facial recognition devices to curb money laundering.

Also Read: Facial Recognition Technology Catches A Person With Fake Passpost At The US Airport 

But increased convenience may come at a cost in a country with few rules on how the government can use biometric data.

“Authorities are using biometric and artificial intelligence to record and track people for social control purposes,” said Maya Wang, senior China researcher for Human Rights Watch. “We are concerned about the increasing integration and use of facial recognition technologies throughout the country because it provides more and more data points for the authorities to track people.” (VOA)