Are smartphones making us smarter? Bosses are especially concerned about this at the workplace because people check their phones as often as 150 times a day–meaning we may be distracted more than 50% of the time at work and have lower productivity. However, our devices are good for relationship building, and having a good friend at work tends to extend an employee’s stay at a job. In addition, smartphone use helps ensure that the workday never really ends and work time can extend into evenings and weekends. This could be both good and bad news because long hours can translate into lower productivity and, eventually, illness.
In the summer of 2017, MSCI finally agreed to include China mainland stocks in its global benchmark equities indices. The decision means Chinese stocks will become a must-have part of many investor’s portfolios. Indeed, it’s a big opportunity for foreign investors, but the risk management is tricky in many regards. For one thing, speculative mom-pop retail investors have been dominating the Chinese stock market and for another, the state-owned firms have intervened in the trading market to a worrying degree. How will the market change and what can investors expect from this volatile yet promising market?
How do big multinational companies innovate? According to Kapil Kane, Director of Innovation at Intel China, there are three ways: partnership, acquisition and in-house development. The problem with the last of these is that in-house R&D laboratories may be good at invention but not at innovation—that is, finding new uses for, or making improvements to, existing products and processes. Kane aims to fix this at Intel China with his Ideas2Reality (I2R), a startup program nested inside Intel’s China operation that encourages employees to submit ideas, which are vetted, incubated and accelerated using the same principles used by leading Silicon Valley accelerators like Y Combinator.
Although China views space exploration as important for bolstering national prestige and influence, boosting national defense, and promoting domestic industries and economic realignment, the country’s space program is still far behind the United States. It has fast caught up fast with other nations, however. China aims to send a rover to Mars and launch a manned space station by 2020, and is also testing the ability of astronauts to stay on the moon for extended periods. And while the government increases its efforts, private companies are also joining to make a presence in space exploration.
Companies are dying fast these days. In the 1950s, the average age of a company on the Standard & Poor’s 500 index was 60 years, now it is less than 20. But International Business Machines (IBM), known as “Big Blue”, seems to be an exception. Over the past few decades, it has managed to keep up as others were dying and has successfully transformed itself. Now it has become a provider of cognitive solutions and cloud services. How has such a giant company managed to transform? Gill Zhou, chief marketing officer of IBM China, offers an answer in this interview with CKGSB Knowledge.
The sharing economy exploded in China this year, with companies for all kinds of shareable objects taking part in this new business model. While there are businesses familiar to Westerners—shared offices, cars and rides—there are also ideas that seem a little kooky, such as shared basketballs and umbrellas. Although some call it innovative, many realize these companies are just “rental 2.0” companies, assisted by digital technology. As the concept reaches fever pitch, however, it is also facing a reality check, especially as many firms, ballooned by venture capital funds, start to show signs of failing.
Interesting and important China related facts you should care about—from China’s service sector growth to the drastic increase of e-sports players and their audience. You may also care about the country’s new fusion reactor setting a new record in July, and that international sewage and water treatment companies are set to chase big opportunities because the central government has pledged to lay 126,000 kilometers of new sewage pipes by 2020, enough to circle the globe three times. Plus, unknown to most, the Middle Kingdom has quietly grown into a cannabis superpower with half of the world’s legal cannabis cultivation, which is used in textiles and pharmaceuticals.
For foreigners, doing business in China is tempting but challenging. Aside from all the difficulties of language, culture and social conventions, the most difficult challenge is understanding local laws and regulations in order to proactively protect your company’s operations and assets. Dan Harris, an attorney at his Seattle-based law firm Harris Bricken, has been helping clients navigate China’s legal landscape for almost 15 years. Since 2006, he has co-authored the China Law Blog, which delivers practical knowledge of Chinese law as it impacts on business. In this interview, Harris discusses legal issues important to companies doing business in China, including compliance, corruption and IP protection.
China led the world technologically in the early 15th century, yet Europe surpassed it overnight. How did this come about? Maverick economist Deirdre McCloskey offers an answer in her work. Although in her youth she fell under the sway of socialist economists, she brings an iconoclasts’ view to her subject believing it is wrong to limit the achievements of humanity to academic theories concerned solely with maximization of utility. Her latest book, Bourgeois Equality, is the concluding volume in a trilogy that seeks to explain “The Bourgeois Era,” which she believes laid the basis for the material and spiritual wealth enjoy by the modern world.
Although China’s official GDP for the first two quarters and industrial growth exceeded expectations, the industrial economy has not yet bottomed out, according to the latest CKGSB study. Led by CKGSB Professor Gan Jie, the study shows that overcapacity remained at a historical high in the second quarter, and product and cost prices continued to rise, while production stayed flat. Meanwhile, the gap between the BSI of state-owned enterprises and that of private enterprises kept widening. The latest BSI findings show that the structural problems of China’s industrial economy remain a significant concern.