September 8-14, 2005
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"The most important characteristic of a chief executive of any region is that he or she should be a noble person."

- Li Ka Shing, business tycoon from Hong Kong, on the topic of the special administrative region's future chief executive. see more



Eat almonds to stay young


CELEBRATED beauty specialist Tammy Liu described vitamins A and C as "wife" and "concubine" of Vitamin E, because both can help vitamin E better function in the human body. But the younger and sweeter "concubine" has more power to urge vitamin E to slow down the pace of aging.
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Tragedy pushes
government to reflect
Migrant worker Wang Binyu, abused during several failed attempts to obtain overdue payment, killed four and seriously injured one in a fit of rage. He was sentenced to death by a court in the Ningxia Hui Autonomous Region. Despite his crime, the media have shown sympathy towards him. A commentary in The Beijing News says that related local governments should reflect on the tragedy.
Wang Binyu became a killer because he had been subject to unfair treatment. While the public sympathizes with him, it is undisputable that he should be punished according to the law.
What happened to Wang is more than a personal tragedy. It is true that the disadvantaged position migrant workers hold in the Chinese society has resulted from complicated social and historical factors and should be resolved gradually. However many of the problems they face can be settled through the joint efforts of relevant government departments and society.
This is because the government has been a main driving force behind China¡¯s reform and still holds great public power. Related departments should reflect on their work in the wake of Wang¡¯s case.
The overwhelming majority of migrant workers have no organization to equip them with an equal position to compete in the marketplace. In fact, their loss of economic interests is due largely to their lack of political rights.
Wang¡¯s case has shown that if the basic human rights of a group of people can¡¯t be ensured, or a group of people¡¯s happiness is achieved at the cost of another group, this society won¡¯t be a safe one.
Break monopoly
before price hike
Against the backdrop of soaring world oil prices, China¡¯s major petroleum companies have been lobbying the government to relax its control over finished oil prices. A commentary in the Huaxia Times says that a precondition for that is the breaking of its monopoly.
It is only rational that under the market economy, there should be less government control over prices because that can lead to better allocation of resources and to prices that can truly reflect supply and demand in a market.
However, this can only be achieved in a market with perfect competition, otherwise consumers?rights will be compromised.
Even in such a market, powerful companies can attempt to attain monopolistic power by lowering prices to drive out their rivals. Government regulation of such a market aims to provide market access to a wider range of enterprises.
It is another story with the type of monopoly that has been brought about by government restrictions on market access. Since there are no potential competitors, monopoly companies needn¡¯t use low prices to win market share, leading to price rises. Consumers can do nothing but accept them.
In industries where perfect competition is yet to be formed, the government should use price controls to bar enterprises from setting up cartels. For the time being, apart from price controls to prevent unusually high prices, it is equally important for the government to gradually break unnecessary monopolies and foster competitiveness among enterprises in a fair and law-abiding manner.

 


Jacob von Bisterfeld

Manmade disasters ?

 


Profle

Circular direction
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Auto fans melt away
With the approach of the Formula One Grand Prix, Yu Zhifei, deputy general manager of the Shanghai International Circuit, was worried about how to attract enough spectators to the circuit and rev up sluggish fan interest in the event.
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Under artificial eyes

FOR most customers, CCTV (closed-circuit television) surveillance cameras installed in shops, banks, buses or metro stops and many other places, merit little attention. But for Xiao Gang, such cameras have become an agonizing and confusing problem.

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