Search

Major demographic changes around the world. Disproportionate sovereign debt. A shift from North America, Western Europe, and Japan to emerging economies as centers of growth. Unprecedented levels of market risk and volatility. The structure of the global economy is undergoing significant changes. Michael Oyster, managing principal of Fund Evaluation Group, explored this topic with Sam DeRosa-Farag, principal of the investment team at Morgan Creek Capital Management, and Stephen Wood, chief market strategist at Russell Investments.

The study reported in this paper examines the experiences of Chinese and Vietnamese international students in engaging in their institutional written discourse at an Australian university. The study highlights the significance of exploring the real accounts of the students as the "insiders" and uncovering students' individual potential choices and intentions as their "seemingly unrecognized" values in producing their own texts in English as a second language. In particular, based on international students' reflection on their intentions and potential choices in academic practices, the study signals how the taken-for-granted institutional conventions may contribute to silencing or marginalizing the possibilities for alternative approaches to knowledge and communication within the higher education institutional context. (Contains 1 figure.)

This paper empirically investigates the economies of scale and economies of scope for the Chinese research universities by employing the flexible fixed cost quadratic (FFCQ) function. The empirical results show that both economies of scale and economies of scope exist in the Chinese higher education system and support the common belief of universities as multi-product organizations. (Contains 6 tables.)

Purpose – This paper aims to examine the global competitiveness of an emerging market multinational (EMM) from China through the case of a major European acquisition, in Italy, in the heavy construction industry. Country- and firm-specific factors are considered. Horizontal integration in this oligopolistic industry changes the industry dynamics, with significant implications for its players. Design/methodology/approach – The paper follows case study methodology and triangulates data through a literature review, an examination of available company data and interviews of key personnel. Firm- and country-specific factors, both advantages and disadvantages, including the business environment in the construction industry, globally and regionally, are analyzed. Findings – The paper identifies several key success factors at the firm level, including the integration of research and development, marketing and sales; the development of extensive communication and trust among the managers of both companies; the exploitation of the Chinese market as a source of demand; and the shifting of selected production lines to the Chinese market. Research limitations/implications – The traditional models of country-specific advantages/disadvantages and firm-specific advantages/disadvantages are augmented by examining the host market and industry task environments. Host country-specific factors for successful integration include favorable local conditions, both in terms of endowments and institutions, and an industrial cluster with supporting firms and services. Practical implications – Following the case study, managers can refer to the key success factors to emulate “best practices”. The paper concludes with a heuristic developed by the Chairman of Zoomlinon, Chunxin Zhan, underlining five principles for a successful EEM acquisition: understanding, sharing, responsibility, compliance and coordination. Originality/value – This paper develops a deep case study analysis and provides useful theoretical and practical implications with reference to Chinese acquisition in the Western markets. [ABSTRACT FROM AUTHOR]

Among the studies of the internal efficiency in higher education, most have focused on the scale of university (the economies of scale), but little on internal operating efficiency in higher education, especially on the combined efficiency of outputs (the economies of scope). There are few theoretical discussions or experimental research on whether teaching resources are complementary with research resources, or whether resources in undergraduate cultivation are shared with those in postgraduate training. In the background of the resource scarcity, it is significant to study the economies of scope in higher education to realize intensive development of higher education. Based on the multiproduct cost function and the data of universities attached to the Ministry of Education, this paper attempts to deal with the complementarities of resources used in undergraduate cultivation, postgraduate training and research to find that universities produce these outputs without sufficient resource sharing, the diseconomies of scope in postgraduate training is highest. As far as the quality of teaching and research are concerned, diseconomies of scope of the outputs are great. The main reasons are as follows: poor distribution of facilities, teachers and books, overlapping internal management systems, and the current postgraduate cultivation model. Therefore, relative departments should take internal resource sharing in higher education into account when making the administration policy of higher education.

Comments on articles about diffusion of technology. Information on the economic transformation of Manchuria, China; Economic and non-economic factors in technology diffusion.

The Chinese Communist Party's Fifteenth Congress established Deng Xiaoping Theory as the guiding school of thought and propelled China's construction of socialist modernization into the 21st century. Comrade Deng Xiaoping's breakthroughs in the theory of economic construction have pushed research on the relationship between education and economic construction to new heights, stimulated academic contention in education economics circles, and inspired theoretical thought. Studies on the socialist market economy and educational reform and explorations on such subjects as the education industry, educational commodities, the education market, the operation of education, fairness and efficiency in education, and so forth have become hot topics in education economics circles and presented a situation in which "a hundred schools of thought contend." Opinions vary widely in education economics circles on whether education is an industry, and no consensus has been reached. (Contains 7 notes.)

This paper investigates the ownership and location strategies as contingency factors, which affect the relationship between SMEs’ open innovation activities and innovation performance in the context of emerging economies. Drawing from the corporate strategy and open innovation literature, we argued that SMEs with state and foreign ownership can more effectively capture economic rents from open innovation in a weak intellectual-property-rights regime. Meanwhile, the subnational environments in which SMEs locate their businesses is also crucial for them to capture value from open innovation. Using the data of 1050 SMEs in China, we found that state ownership positively and significantly moderates the relationship between openness and innovative performance, while foreign ownership partially supports the same effect. By disentangling the pro-business environment and the market development, we found that for SMEs that are located in a region with a stronger pro-business environment and a higher level of market development, open innovation can bring more value than it does for those located in regions with lower levels of those factors. Overall, this paper also contributes to our understanding of the complementary relationships between ownership and location strategies and open innovation. [ABSTRACT FROM AUTHOR]

As part of a larger study, this paper presents findings from my exploration of discourses about China-US geopolitics through popular discussions on Chinese international students (CIS) who are attending American universities during the ongoing global COVID-19 pandemic. The study seeks to advance scholarship for international students attending American colleges, with particular implications for Chinese students, as agents of geopolitical relations. In doing so, it investigates (a) how these students are represented in American media and (b) the criticality of international geopolitics in the mobility of international students. The findings reveal that American popular media sources assume a tone when writing about CIS that may stem from a deeper anti-Chinese sentiment that exists in the US. They also suggest that American institutions of higher education, and American companies that employ CIS after graduation, treat these students as imported subjects/objects that support America's intellectual and economic advancement. In doing so, the media perpetuates narratives of geopolitical tensions between the United States and China, while representing CIS as unwitting agents of those tensions. The study seeks to advance scholarship on international students attending US colleges, particularly those from China, during an era of rising populism and right-wing movements in the US coupled with rapidly deteriorating US-China relations. [ABSTRACT FROM AUTHOR]

Highlights • Forest resource Metabolism Network model isdeveloped for ecological and economic analysis. • Exploitation index is developed to reveal the weaker sectors in the ecological relations. • A case study of Guangdong province, China isconducted to illustrate the potential benefits. • Scientific Basis are provided to allocate forestresources and stabilize industrial structure. Abstract Integrating forest resources into the socio-economic system correctly and reasonably is of vital importance to tackle the increasingly scarce forest resources. In this paper, forest resource input-output model and forest resource metabolism network model are established to provide new insights into the relationships among the systems, industries and sectors related to forest resources. A promising indicator named exploitation index is developed to reveal the weaker sectors in the ecological relations, which will further help to provide better corrective actions and integrated strategic measures. Guangdong is taken as an example to verify the availability of the model and solve the problem. The results show that the primary manufacturing consumes more direct timber, while advanced manufacturing and the service sector utilize timber indirectly. In addition, Guangdong forest metabolism system shows a negative correlation and the whole network does not achieve the mutualism state, leading to competition relationships between pairwise sectors that should not appear, such as Forestry sector and Papermaking and Paper Products sector. These results provide the corresponding reference for helping the decision makers to allocate forest resources and coordinate ecological and economic development. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of connected institutional investors on stock price crash risk. We document that the closer institutions are to the central position of the network, the greater the stock price crash risk, whereas the closer they are to the intermediary position, the smaller the stock price crash risk. Such results remain strong after conducting several robustness checks. Further evidences demonstrate that the collusion effect of central position, which is more pronounced for firms with higher insider ownership concentration, lower institutional ownership and lower regional marketization index, works through managers' asymmetric news disclosure, whereas the monitoring effect of intermediary position, which is more pronounced for firms with higher insider ownership concentration, higher institutional ownership and lower regional marketization index, works through better informativeness and control. Overall, our analyses provide insights into the relation between social embeddedness of individual economic activities and corporate governance. [ABSTRACT FROM AUTHOR]

During the recent presidential campaign, some prominent politicians called for a "time out" in negotiating new agreements to expand international trade, and others wanted to reduce it by canceling existing trade agreements. The stated concern is that trade with countries with low labor costs forces American workers to either accept lower salaries and wages or lose their jobs to low-paid foreign workers. This concern raises the question--is the goal of free international trade out of date? The author's answer to this question is an emphatic "No!" As long as creating higher paying jobs (both here and in other countries) by making the best use of scarce resources is a desirable goal, free trade is not out of date. Nations may never achieve perfectly free international trade, but the struggle to reduce existing trade restrictions is a noble one. Achieving freer trade would not only improve this country's prosperity, but it is also the most effective way to help people in other countries improve theirs. In this article, the author uses the concepts of opportunity cost and comparative advantage to explain how Americans, as well as people in smaller, and generally poorer, countries, would benefit from reduced trade restrictions.

"Sea turtles" refer to scholars who have returned from abroad, and especially from the Western countries while "land turtles" refer to scholars who have been "stuck" in China where they have obtained an education and engaged in theoretical research or practical explorations. In this article, the author compares the achievements and contributions made by these two factions in China. The author explains that these two factions, by and large, share at least two points in common: (1) No matter in which era, the great majority of those who conducted their studies in China and those who returned after completing their studies abroad served their country out of feelings of patriotism, and at the same time developed themselves; and (2) Although the country in which academic degrees are issued and the level of the degrees both serve as criteria for assessing whether a person has any real ability and learning, the bottom line is whether that person is able to resolve China's actual problems. The author also explains another metaphor for the relationship between the two factions, that of the Chinese "cat" and the Chinese "mice." "Be a Chinese 'cat,' and catch Chinese 'mice.'" All of China's intellectuals should set their sights and base themselves on observing, analyzing, and resolving China actual problems. It is on this point that the returnee faction and the local faction can be brought together. "Cats" are public-spirited persons who have made up their minds to make contributions to China; "mice" are the problems that affect and hinder China's economic and social advances. In the course of resolving economic and social problems, the returnee faction and the local faction both have important roles to play. [Translated by Ted Wang.]

Between 1765 and 1767 Quesnay published Droit naturel and Despotisme de la Chine. I show that these texts are strongly related. I study their various versions and editions, some of which were previously poorly known, and attempt to evaluate their readership. I uncover a lost manuscript and neglected sources of Despotisme de la Chine which help to clarify various points about the text. It is shown that it was finished most probably well before the end of 1766. Its economic contents are briefly described, whether they are similar to other writings of Quesnay or seem to alter his doctrine. It is suggested that Despotisme de la Chine was read by Adam Smith and that he took from it many lines on China found in Wealth of Nations. The paper ends with a proposal of a new edition of Droit naturel and Despotisme de la Chine. [ABSTRACT FROM AUTHOR]

At the phase of 13-th five-year plan in China, natural gas will play an important role in energy revolution. With the growth of consumption, natural gas infrastructures will become hot spots of future investment and pipeline network construction will also usher in a period of rapid development. Therefore, it is of great theoretical and practical significance to study layout methods of transport pipeline network. This paper takes natural gas transport pipeline network as a research object, introduces dominance degree to analyse benefits of pipeline projects. Then, this paper proposes Dominance Degree Model (DDM) of transport pipeline projects based on Potential Model (PM) and Economic Potential Theory (EPT). According to DDM of gas transport pipeline projects, layout methods of pipeline network are put forward, which is simple and easy to obtain the overall optimal solution and ensure maximum comprehensive benefits. What's more, construction sequences of gas transport pipeline projects can be also determined. Finally, the model is applied to a real case of natural gas transport pipeline projects in Zhejiang Province, China. The calculation results suggest that the model should deal with the transport pipeline network layout problem well, which have important implications for other potential pipeline networks not only in the Zhejiang Province but also throughout China and beyond. [ABSTRACT FROM AUTHOR]

This paper investigates the interrelationships among local government debt, fiscal decentralization, and public health. The investigation begins by constructing a theoretical model to analyze the inherent connections between these variables. Subsequently, an empirical analysis is conducted using data from China between 2015 and 2021. The findings demonstrate a bidirectional relationship between fiscal decentralization, local government debt, and public health. Specifically, it is observed that an increase in local government debt has adverse effects on both fiscal decentralization and public health, while fiscal decentralization has a positive impact on public health. These insights are consistently validated through rigorous regression methodologies, affirming the robustness and significance of these relationships. [ABSTRACT FROM AUTHOR]

Copyright of Journal of China Tourism Research is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this paper is to investigate the link between culture, history, government policies and the development of economic institutions. Specifically, the paper discusses the impact that history and culture, including the influence of Confucianism, have played in shaping the economic institutions of South Korea and the People's Republic of China. Research results indicate that culture, history and government policies all played a role in shaping the organizational structure of these two East Asian nations. However, China's economic landscape is dominated by small and medium-sized, family-oriented firms, particularly in the rural parts of the country. The South Korean economic landscape, on the other hand, is dominated by large conglomerate firms called Chaebols which are also dominated by one family. [ABSTRACT FROM AUTHOR]

With the deepening of electricity market reform in China, the competition in the electricity retail market becomes increasingly intense. Electricity retailers (ERs) need to explore new business models to enhance their competitiveness in the retail market. Meanwhile, with the improvement of industrial production and people's living standards, more and more nonlinear electrical equipment have been put into use, leading to severe harmonic pollution problems. Harmonic pollution causes loss of electricity, resulting in the economic loss of customers, especially for large industrial customers. In the above contexts, this paper proposes a novel business model that incorporates harmonic control as a value-added service into electricity retail contracts for utility-owned ERs. Both utility-owned ERs and customers can benefit from the designed business model. For customers, it helps them to improve the power quality while saving the electricity cost. For ERs, it helps them to cultivate the customer loyalty and improve the customer satisfaction. A case study is performed to demonstrate the effectiveness of the proposed business model. [ABSTRACT FROM AUTHOR]

This paper examines the consequences of the hugely successful expansion of South-South Cooperation since the new millennium. For all the achievements, variations and change over the 1950s-late 1990s, 'SSC 1.0' was characterised by relative neglect within the 'international' development community, and by many orthodox and critical scholars. In the chronological schema of the paper, 'SSC 2.0' refers to the period of remarkable expansion from the early 2000s to the present. The emergence of 'SSC 3.0', I suggest, is currently revealed by a discernible set of shifts driven in large part by the expansionary successes of SSC 2.0, as well as other turns in the global political economy. Three contemporary trends are identified: cooperation narratives that are increasingly 'muscular', nationalistic and pragmatic; difficulties sustaining claims to 'non-interference' in partner countries; and the further erosion of ideational and operational distinctiveness. [ABSTRACT FROM AUTHOR]

In this paper, we aim to establish a mathematical model to design a maximizing social welfare intervention mechanism of healthcare service goods in China. The intervention mechanism is helpful to facilitate the adoption of the healthcare service goods. We consider a research problem that regulates the supply chain system for healthcare service goods by an intervention mechanism, and two intervention strategies composed of demand-growth strategy and subsidy strategy are used to the combination of intervention mechanism. Then this paper presents a new method based on fuzzy set and bilevel programming to design the intervention mechanism. To demonstrate the effectiveness of the proposed model, we conduct a case study for Wudang personalized health package and verify our model by the specific result analysis, the result indicates that our joint intervention mechanism is helpful to achieve the target and increase social welfare. [ABSTRACT FROM AUTHOR]

Supply chain finance solves the problem of financing difficulties for small- and medium-sized enterprises, reduces the risk of financial services of financial institutions, and brings new profit growth points to logistics enterprises. Therefore, supply chain financing has achieved rapid growth in a short period of time in China. This paper aims to study how to analyze and study the collaborative development of supply chain finance based on system dynamics. This paper puts forward the problem of system operation optimization, which is based on system dynamics, then elaborates on the concepts of SD and SCF, and designs and analyzes a case of a supply chain financial system based on system dynamics. The experimental results show that increasing the "bank input" from 0.1 to 2 can bring considerable economic benefits in the long run. As far as the simulation results are concerned, the promotion effect on the supply chain is the most significant. The output value of the supply chain can be increased from 2,963.04 billion yuan to 4,211.73 billion yuan, an increase of 42.14%. The simulation results showed that the financial industry has a significant positive effect on the factor of supply chain support, which provides evidence support for further guiding practice., Competing Interests: The author declares no conflicts of interest., (Copyright © 2022 YiTian Hong.)

Purpose – The purpose of this paper is to indicate trade characteristics of Foreign direct investment (FDI) inflows in China and examine the dynamic interaction between FDI inflows and China’s international trade through empirical analysis. Design/methodology/approach – At first, this paper builds the probability distribution model (Poisson and negative binomial (NB)) to capture the characteristics of spatial distribution of all kinds of FDI firms in Chinese cities and provinces based on count data, so as to indicate the potentials for further introducing FDI inflows in China; Second, this paper investigates the effects of trade on FDI firms inflows based on probability regress model (Binary Logit, Tobit, NB, Poisson, zero inflated negative binomial) and shows how international trade accelerates the different kinds of FDI firms to agglomerate in Eastern, Middle and Western region by the endowments of factors; third, this paper empirically examines the magnitude and characteristics of trade effects generated by FDI inflows by building dynamic panel model based on continuous data. Findings – First, statistical tests of probability distribution model based on count data show that there are characteristics of spatial agglomeration of FDI firms such as manufacture firm, R & D firm, managing and marketing firm and total sectors, which obey NB distribution as whole; Second, this study indicate that FDI inflows have strong positive effects on the international trade in China’s provinces and on China’s regional trade, and that most of foreign firms in China are export oriented being strongly characterized as labor-intensive industries, especially, contributions of FDI to imports are greater than the contributions of FDI to exports in China’s Middle and Western trade, and the growth of FDI trade in China’s trade volume has been strong over the past years; third, the empirical results of models based on count data and continuous data indicate that FDI inflows have significantly positive relationship with international trade, that is, the relationship between FDI and international trade in the case of China is the characteristics with complement and imports substituting relationship. Research limitations/implications – Because of mixed data set for FDI inflows of processing and assembling trade and production-oriented FDI, efficiency-seeking and knowledge or technology – intensive FDI inflows in the past 36 years, the paper only investigate characteristics of FDI inflows in China before the turning point of financial crisis, but it is important for capturing the whole picture of trade characteristics of FDI inflows in China. Practical implications – The derived quantitative results imply that there are still greater potentials for further introducing FDI inflows in China, and decision-maker should make policy of introducing FDI inflows which are favorable to supporting innovative activities and economic agglomeration, and preferably encourage efficiency-seeking and export-oriented FDI inflows so as enhance quality and efficiency of economic growth, which are also helpful to accelerate upgrade of Chinese industry and gradually shorten gap of growth among Eastern, Middle and Western region. Social implications – FDI inflows in China not only stimulate the remarkable growth of bilateral trade between host country and home country, but also promote the growth of international trade between China and the rest of the world. Thus, policies of bilateral or multilateral free-trade and investment area should be encouraged, which will be also favorable to promote the growth and welfare in all the regions. Originality/value – This paper demonstrates that spatial distributions of FDI firms in Chinese cities and provinces obey NB probability distribution pattern, and puts forward the methodology of model based on count data and continuous data. Besides, this paper quantitatively indicates trade characteristics of FDI inflows in China as well as the dynamic interaction between FDI inflows and China’s international trade. [ABSTRACT FROM AUTHOR]

This paper analyzes the export growth of China's information communication technology (ICT) products in two major markets Japan and the US from 1995 to 2008 and its competition with six East Asian countries: Indonesia, Malaysia, Philippines, Thailand, Singapore and Korea. The analysis shows that China has emerged as the largest single supplier of ICT products to both markets. By 2008, China's exports accounted for 44 and 38% of total Japanese and the US ICT imports respectively. On the other hand, market shares of the six East Asian countries either remained stagnant or decreased substantially. The analysis by destination markets and by product categories indicates that, there exist significant negative correlations between market shares of China and that of the six East Asian countries, implying that the rapid expansion of China's ICT exports crowded out exports of its East Asian competitors. [ABSTRACT FROM AUTHOR]

The article reports on opening up international markets for wood and paper products according to the global forest industry at the World Trade Organization meeting in Hong Kong. The call builds on the negotiating proposal for trade liberalization in the forest products sector submitted by the Governments of Canada, China, New Zealand, Thailand and the United States. Vice president of Trade and Competitiveness of the Forest Products Association of Canada Marta Morgan says that all countries stand to gain significantly from freer trade in forest products.

Under the background of "the Belt and Road" and "the economic corridor of China, Mongolia and Russia" initiatives, it is of great significance to study the temporal and spatial economic pattern in the Russian Federation. Based on the economic development difference index, regional economic grade index, global trend analysis tool and spatial autocorrelation model, this paper analyzes the temporal and spatial pattern evolution characteristics of Russian economic differences from 2002 to 2020. The results are as following. First, although the economic imbalance among various federal subjects has been decreasing, the economic polarization has been still severe between the prosperous developed regions and the stagnant backward regions during 2002-2020. Russia's economy shows a trend of changing from significant positive correlation in strong agglomeration space to positive correlation in weak agglomeration space, and then to random distribution. Second, there has been great differences of the economic development among various federal subjects. The economic grade of the Russian federal subjects presents a significant spatial differentiation pattern. The Russian Federation's economic resources are concentrated in the first-class federal subject (Moscow City), second-class federal subjects (Tumen Region, Moscow Region and Saint-Petersburg city) and a few third-class federal subjects (Yamalo-Nenetsky Autonomous Area, Khanty-Mansiysky Autonomous Area, Republic of Tatarstan, Krasnodar Territory, Sverdlovsk Region, etc). Third, the Russian Federation's economy presents "High Core, Low Periphery", "High West, Low East" and "High south, Low north" spatial differentiation pattern. The economic hot regions coincide with the high-class economic regions, which are mainly distributed in the contiguous areas of Ural Federal District and Volga Federal District, as well as the Moscow City, Moscow Region, Saint-Petersburg city, Krasnodar Territory and Rostov Region. The economic cold regions coincide with the low-class economic regions, which are mainly located in the Far East Federal District, the east of Siberian Federal District, the north of North West Federal District and the south of North-Caucasian Federal District. Finally, we suggest the recommendation for policy makers in Russia. And we propose the future research ideas., Competing Interests: The authors have declared that no competing interests exist.

The mid-term and long-term growth potential of China's insurance industry is a subject of significant interest to governments, business and academia. In this paper, the “world insurance growth curve” is used in conjunction with estimates of China's future GDP growth to estimate the growth and size of China's insurance industry for the period 2006–2020. There are clearly other factors – social, political, cultural, demographic and market structure – that also have an impact, but other empirical studies have shown that the key factor in the long term is growth and development of the overall economy. Assuming that China's GDP grows over that period at a rate of 6–9 percent per year, we conclude that the possible range of China's insurance industry growth rate would be 7.7–17.9 percent, with a more likely range of 9.8–14.8 percent. In the median scenario, the average annual real growth rate for China’s insurance industry during the period 2006–2020 would be 12.3 percent. Thus, by the year 2020, the size of China’s insurance market would be 5.7 times of that of 2005, and the overall insurance penetration would be 5.6 percent, with 4 percent for life insurance and 1.6 percent for non-life insurance. The growth rate of China’s insurance industry during the period 2006–2020 would be almost double the world average and by 2020, China’s share of the world insurance market would be about 4.0 percent.The Geneva Papers (2008) 33, 489–506. doi:10.1057/gpp.2008.19 [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editor discussess topics within the issue including role of high technology industries in changing composition of Chinese economy; advantages of the Eurasian Economic Union Member States in international trade; and intra-industry trade specialization.