China remains largest developing country: Economist
Beijing, April 16: China remains the world's largest developing country despite having a a low per capita GDP, lingering urban-rural gap, weak industrial competitiveness and technological innovation, according to an economist.
The remarks were made by Wang Yuanhong, an economist at the State Information Centre, Xinhua news agency reported on Monday.
"We should look at both economic aggregate and per capita figures when measuring the real development level of a country," Wang said.
Despite being the world's second largest economy, China's per capita GDP in 2016 was only 80 percent of the world average, one-seventh of the US and was ranked the 68th globally.
"Chinese per capita consumer spending was only $2,506 in 2016, less than half of the world average and only 7 percent of the US."
The Engel's coefficient, which measures food expenditures as a proportion of total household spending, stood at 29.3 per cent in China, much higher than developed economies.
"It means the Chinese people still have to spend big on basic needs, and their expenditure on culture, health care, entertainment and tourism are much less than people in developed countries," Wang said.
He said China was still "a follower in technological innovation", with businesses inadequate in research and development.
"Eighty percent of core technology, most of high-end equipment, and core components are reliant on imports."
Despite emerging new technology, products and business models, China is yet to complete building an innovation-driven growth pattern, Wang said.
The disparity of people's incomes per capita between provinces can be as large as more than four times, and there is still a marked gap in infrastructure and public services between cities and villages.
"China's urbanisation ratio was only 58.52 per cent in 2017, far below the around 80 per cent of developed countries," Wang said.
Compared with developed countries, China lags behind in many other areas including environment protection, investment effectiveness and market supervision, the economist added.
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Congress Corporator's daughter stabbed to death inside college campus in Hubballi
Hubballi (Karnataka), Apr 18: The daughter of a Congress Corporator was stabbed to death by her acquaintance inside BVB college campus here on Thursday after she allegedly rejected his proposal, police said.
The deceased Neha (23), the daughter of Niranjan Hiremath, was a first-year MCA student, they said.
The accused 23-year-old Fayaz, an MCA dropout, has been arrested in connection with the incident, police said, adding that both of them were batchmates during their BCA course.
The entire incident was caught on CCTV camera.
According to the police, Fayaz went inside the college campus with a knife and stabbed Neha five-six times. During the attack, he too sustained injuries and was shifted to the hospital along with the victim. At the hospital, Neha was declared brought dead.
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"During interrogation, he (Fayaz) claimed that the two of them had been in a relationship and that she had suddenly started avoiding him. It needs to be corroborated and verified, but he was arrested immediately," a senior police officer said.
A case of murder has been registered, police said, adding that further investigation is underway.
Narrating about the incident, Neha's father Hiremath said that his daughter had classes from 8 am. At around 4.30 pm, when she stepped out after completing her classes, this person approached towards her and stabbed her nearly six times inside the college campus and she died on the spot.
"He (the accused) was an old student and he had proposed my daughter but she rejected his proposal. She did not like him and she usually stayed away from all this...She refused him saying they both belonged to different caste and that she did not wish to have any relationship with him. Out of anger, he stabbed my daughter," he told PTI videos.
Demanding justice for her daughter, he said that the accused should he hanged to death only then will his daughter's soul rest in peace.
Meanwhile, Karnataka Chief Minister Siddaramaiah condemned the incident and offered condolences to the family of the deceased.
"An accused has already been arrested in connection with the incident and I have instructed the Director General of Police to conduct a strict investigation and take action to ensure maximum punishment for the accused," he said in a post on 'X'.
He also appealed to people to not take law into their hands.
"In connection with the incident, no one should get agitated and take law into their hands or attempt to disturb peace of the society. It is our duty to get justice for the death of the young woman, in this regard the police department will work hard," he added.
