The New Book Launch for Money and Army Was Held in the Pangoal Institution
The New Book Launch for Money and Army Was Held in the Pangoal Institution

On the afternoon of December 21, 2018, the new Book launch for Money and Army was held in the Pangoal Institution.  The book was recently published by the China Financial Publishing House.  Many experts and scholars from the Pangoal Institution participated in the compilation of this book.  They were Cheng Shi, Co-founder of the Pangoal Institution and Member of the Pangoal Academic Committee, who sserved as the deputy editor-in-chief of this book; Zhang Ming, Co-founder of the Pangoal Institution and Member of the Pangoal Academic Committee, Luo Ning, Researcher at the Pangoal Institution, and Zheng Liansheng, Senior Researcher at the Pangoal Institution.  All of them are the principal authors of the book.

The conference was hosted by Zhou Xiaoguang, Secretary General of the Academic Committee of the Pangoal Institution and Deputy Secretary General of Center of Human Resource Research of the Chinese Academy of Social Sciences.  Yi Peng, President of the Pangoal Institution, gave a welcome speech.

In his welcome speech, Yi Peng first extended a warm welcome to the attendees, and then highly praised the practical significance and academic value of this book.  He emphasized that the book Money and Army creatively clarifies, from the economic and military perspectives, how currency and military are reasonably arranged and interlocked in the process of national rise through combining history and reality to discuss the future of the rising great powers.  Yi said that this new book launch is the 130th academic event held by the Pangoal Institution this year and the Pangoal Institution has organized many high-quality forums and conferences on international relations, public diplomacy, macroeconomics, and finance, which are inseparable from the support and efforts of experts and scholars in various fields.  The book Money and Army is another significant achievement made by the Pangoal Institution and other scholars in relevant areas.

Cheng Shi, Co-founder of the Pangoal Institution and Member of the Pangoal Academic Committee, shared his perspectives on the new book with the attendees.  He said that the overall evolution of comprehensive strength in finance and military is the main line for the rise and replacement of great powers, and the book Money and Army hopes to explore the interaction between the army and the currency, that is, the hard power and soft power of one country to advance hard power and soft power to ensure national development and progress.  Cheng Shi also expressed sincere gratitude to the writing team of this book.  Later, Cheng Shi read the book review by General Qiao Liang for Money and Arm–Let Money and Army Become the Dual Propellers of National Rejuvenation and Human Well-being, which emphasized the necessities of the construction with Chinese characteristics(currency plus military) in the new era.  Qiao also perceived that Money and Army combines academic theory, historical experience with real-life cases and creatively studies currency allocation and military allocation strategies while systematically explaining how China utilizes such construction.  In Qiao’s view, the pragmatic framework designs and policy analyses do count.

Subsequently, Professor Yang Haizhen, one of the deputy editors-in-chief of this book and a well-known economist, shared her understanding about the new book.  Professor Yang summed up the three characteristics of defining a big country in the book.  First, strong country's comprehensive strength; second, discourse right in the maintenance of the state order and the change of the international order; third, the sustainable cohesion.  Hence, in Yang’s view, on this basis, the book Money and Army summarizes five pillars of the rise of the great powers—military and currency serving as the foundation of the current hard power, science and technology supporting the military and the economy, the main body of the economy relying on finance and the main body of finance paying heed to money, as well as institutions and culture.   The five aspects constitute the five pillars of the rise of the great powers.  The book Monetary · Army highlights the analysis of both the currency and the military.  Professor Yang also shared her feelings about the book.  She believes that the global pattern has changed from the previous zero-sum game to the multi-polar, incremental non-zero-sum game.  At the same time, Yang also expressed her views on the internationalization of the RMB.  She said that the internationalization of the RMB is beneficial to the development of the country with corresponding risks.  Therefore, the internationalization of the RMB should keep a fast pace and focus on the pursuit of economic growth and improvement.  The ability of financial institutions to expand the depth and breadth of the market and increase the industrial volume can thus enjoy the benefits of the internationalization of RMB to China's economic development.

Subsequently, Senior Advisor of the Pangoal Institution Advisory Committee, former Dean of International College of Defense Studies NDU of PLA, Professor of the National Defense University of PLA and the retired Major of PLA, Zhu Chenghu presented his perspective on money and army.  He said that the money and military are essential tools for the rise of the country and the discussion about the two issues in this book is very important for China’s current development.  Deputy director and researcher of the Institute of World Economics and Politics Chinese Academy of Social Sciences and Vice Chairman of the Pacific Securities Strategy Development Committee, Hong Yuan shared his views about this topic.  He believes that the book Money and Army firstly combined two essential concepts in modern society– currency and army and significantly analyzed them from an angle of nation’s rejuvenation.  Senior Founder of Sino Great Wall, Zhang Xuefeng said that Money and Army reflects the conflicts under current situations and has a very profound guiding effect on reality.

Finally, the guests and the participating media exchanged ideas and shared their views on the development of China's industry and the high-quality development of China's economy in the current era.

For the attendee of this New Book Launch, they were President of the Pangoal Institution, Yi Peng, Senior Adviser of the Pangoal Institution Advisory Committee, former Dean of International College of Defence Studies NDU of PLA, Professor of the National Defense University of PLA and retired Major of PLA, Zhu Chenghu, Co-founder of the Pangoal Institution and Member of the Pangoal Academic Committee, Cheng Shi, Secretary General of the Academic Committee of the Pangoal Institution and Deputy Secretary General of Center of Human Resource Research of the Chinese Academy of Social Sciences, Zhou Xiaoguang, well-known Economist Professor Yang Haizhen, Deputy director and researcher of the Institute of World Economics and Politics Chinese Academy of Social Sciences and Vice Chairman of the Pacific Securities Strategy Development Committee Hongyuan, Senior Founder of Sino Great Wall, Zhang Xuefeng, and Deputy Secretary-General of the Pangoal Institution and Director of Academic service Department of the Pangoal Institution, Wang Yue.

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