Cover Story

Consumption： The Much-Anticipated New Engine for Growth

Consumption contributed to more than 51 percent of China抯 GDP growth in 2014， and the figure further rose to 60 percent in the first quarter of 2015. Indeed， consumption has exceeded investment to become the biggest driving force for economic growth. As a result， experts are increasingly calling for the government to introduce policies to stimulate consumption， making it the new engine for growth.

However， many government officials and experts remain cautious about stimulating consumption， saying that unlike with exports and investment， stimulus policies cannot sustain high growth in consumption. A consumption binge today may mean a long-term slowdown down the road. One must get a clear picture of consumption before effective policies to unleash China抯 consumption potential and reshape the country抯 consumption landscape can be adopted.

Francis Fukuyama Delves Into Global Political Order

American political scientist， political economist， and author Francis Fukuyama chronicles the history of global political development in a two-volume work over three years in the making. His central argument is that governments， whether democratic or non-democratic， will inevitably decline unless they can achieve sustainable development. He pays special attention to environmental adaptability and competitive capabilities demonstrated by Western democracy.

Fukuyama proposes the United States change its existing national power system. However， he also confuses structural and operation problems of democracy and inappropriately escalates a problem concerning administrative power efficiency to the level of the state抯 overall system efficiency， leaving readers with the impression that democracy will inevitably decline.

What China Needs is Peace

The United States， whose comparative advantages have decreased compared with its heyday 25 years ago， worries that the threat of terrorism and the rise of China may cost the country its global dominance. Indeed， terrorism poses a real threat to the United States， but the country抯 second concern is unwarranted.

China has neither the intention nor the conditions to grab global hegemony. Any thought of breaking 揚ax Americana，？i.e. American hegemony in the world， is unrealistic and will backfire. On the other hand， any U.S. military action to contain China抯 rise is short-sighted and reflects a lack of understanding of China. What China truly needs is peace both on land and at sea， which does not contradict with the United States？fundamental interests.

Zhu Yongxin Tries to Answer Qian抯 Famous Question

The question of why Chinese universities are unable to turn out outstanding talent， which was raised by late rocket scientist Qian Xuesen a decade ago， remains unanswered. Money alone would not generate outstanding talent or world-class universities if we continue down the old path and do not reform our educational system， said Zhu Yongxin， a widely celebrated educator and education reformer， in an exclusive interview with Caijing.

Zhu contends that the answer to Qian抯 question lies in letting educators take the helm at colleges and universities； while giving due autonomy to higher education institutions should be the first step in the right direction.

China Can Draw Lessons From Magna Carta

Signed in England 800 years ago， the Magna Carta originated as an attempt by the aristocracy to place certain restraints on the power of King John. Public interest in the Magna Carta re-ignited in the 17th century， as many spoke out against the divine right of kings， and people began calling for some form of 搇aw？in the modern sense. The Magna Carta not only affected England抯 historical trends， but also influenced the course of history in many countries in Europe and America. The charter has since become a symbol of freedom.

Famous historian Qian Chengdan believes that China can learn from England抯 experiences. 揂lthough the speed of the progressive path of development may have slowed [in England]， but each time progress was made it was that of a stable nature， as opposed to quickly advancing and retreating.？