This is China's first manned venture since it tested an anti-satellite missile in January 2007.
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This is why China is so cautious, and why it is often criticized for being slow or seen as unengaged regarding international hot spots.
And while most China investors are far from overly bullish on China, nor subscribe to any saintly view of its economic management, the prevailing consensus among portfolio managers who continue to put money to work in China is this: China may be down, but it is not out.
Whether any of this is useful to China is questionable, but without a doubt the recent events could carry a high cost.
If this is what China's president sees as victory, defeat would be grim indeed.
Compounding this problem is China's construction at the Port of Gwadar in Pakistan, which essentially gives Beijing a naval presence on both sides of the Indian subcontinent.
"This is like China's participation in the Olympics, " he said.
The major exception to this trend is China, which is sitting on a large stockpile that it built up during 2009, but is expected to be used up during the coming months.
None of this is to say that China is on the verge of precipitous decline.
None of this is to deny that China is playing a constructive and vital role on a number of international fronts.
This is true even in China, which is always cited as evidence that there is no link between democratisation and the existence of a middle class.
This is a dig at China, and China is not buying because it realises that through the EFSF it could lose its money - whereas through the IMF it cannot.
This is tough talk when China's support is needed on nuclear nonproliferation, climate change, global economic stabilization and virtually every major issue facing the international system. iReport.com: Obama's change 'mission failed'?
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All of this is designed to show that China is different from colonial powers.
Of course, this is not to say that China is a model member of the World Trade Organization.
This is the mass production that China is famed for, with the company today employing a total of 1, 500 people and making around seven million pairs of scissors and three million knives a year.
This is one reason why China never frightens me: theirs is a society that must clamp down on speech in order to maintain control.
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This is partly because China has become expensive compared with elsewhere in Asia.
There are some signs that this is happening in China, where the household consumption rate continued to fall in 2012.
They recognized that this is important in China that the -- the exchange rate to absorb more of the adjustment.
The main reason for this casino frenzy is China, whose economic rise seems to proceed heedless of any global downturn.
This is a newer China, racing into middle income status and all the complexities and slowness that comes along with it.
This continuing mission is China's first active naval deployment beyond the Pacific.
This time China is hoping to drive down support for Chen Shui-bian.
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