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Links 1 through 2 of 2 by David Bandurski tagged economic development

In an editorial published in today's edition of Zhejiang Daily, the official Party mouthpiece of Zhejiang, the province's vice-governor, Chen Derong (陈德荣), heaps praise on the entrepreneurial spirit of the city of Wenzhou and criticizes what he calls the "demonization" of private financing. Chen concludes his editorial by saying that Wenzhou entrepreneurs have "used their fresh blood to protect the market economy." A number of entrepreneurs in Wenzhou were reported to have committed suicide in late 2011 as they were unable to repay huge private loans they had taken out with local financiers, often at rates of 70-90 percent. This led some in China to speak out against the practice of underground lending. Chen's editorial today counters by praising what he calls the "Wenzhou Model", based on a fierce entrepreneurial spirit.

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In today's China Youth Daily commentator Chen Fang (陈方) argues that social tensions in China cannot be resolved by spurring economic growth alone. Chen writes: "The point of economic development is to make the people more prosperous. Unfortunately, in our development model up to now, a number of local officials have placed more emphasis on the importance of development, always believing that issues of public welfare can be set to one side, that perhaps with development these public welfare issues will resolve themselves. In fact, once social tensions have gathered to a certain extent they will erupt again and again. Not only will public welfare issues be left unaddressed, but development will also be impacted."

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