The WTO is the world’s primary trading system, comprised of 164 member-economies scattered across all of the world’s five continents, and it is obviously in the interests of the world that it works effectively. But growing disputes between China and the Western economies are making the World Trade Organization increasingly dysfunctional. Could the result be a radical overhaul of the global trading system?
Right up until the moment his company imploded, Ofo founder Dai Wei insisted he was building a corporate empire to rival Google.
But the young entrepreneur has now come to resemble a modern-day Ozymandias: all that remains of Ofo’s bike-sharing dream are the battered, unusable yellow cycles still littering China’s streets. The collapse of the Beijing-based startup, which just two years ago was valued at $3 billion, has captivated China over recent months.
In his 23 years of executive coaching, Ray Williams, president of Ray Williams Associates in Vancouver, B.C., has advised many executives on how to improve the performance of their teams. He took time out recently for an interview over Skype with CKGSB Knowledge to share his insights on how to make your team more productive, whether they work together in one room or are scattered all over the world.
October 27 of 2018 was supposed to be a historic day for China’s growing aerospace industry. Landspace, a Beijing-based startup, was set to become the first private Chinese firm to launch a rocket into outer space. Then, at 6:40 pm, a fault occurred. Soon after, Landspace declared the mission a failure. A few weeks later, SpaceX completed its 20th successful launch of 2018. It is unfair to draw sweeping conclusions based on the performance of just two companies, but it does serve as a reminder of how far China has to go before it rivals the US as the world’s leading technological power.
Many—maybe even most—business teams are dysfunctional. Whether your teammates are co-founders of a startup or the C-suite of a Fortune 500 company, the evidence suggests you are probably not working together as productively as you might. Outsized egos and mis-sized groups are the most frequently cited cause of team dysfunction, but they aren’t the only problem.
A blog post by a self-styled financial veteran knocked the wind out of the Chinese business community recently. The author, Wu Xiaoping, argued that the country’s private firms should step aside and allow the state to increase its dominance of the economy. The private sector has “fulfilled its task of assisting the state-owned economy in achieving its rapid development,” Wu wrote. The article went viral on social media, sparking criticism from entrepreneurs and support from left-wing commenters. Under normal circumstances, a blog by an obscure middle manager would never garner so much attention. But Wu’s post touched a nerve. These are tough times for private firms.
A new year is a time for fresh starts and new beginnings. At least, that is what policymakers in Beijing will be hoping. The second half of 2018 produced some negative headlines on the economy as a domestic deleveraging drive and the intensifying trade war with the US slowed growth and undermined confidence. Will these headwinds continue battering the Chinese economy or will Beijing be able to engineer a recovery? There are few people better placed to answer this question than Shen Jianguang, one of China’s most respected economic analysts, whose career has included stints at the European Central Bank, IMF and OECD.
The rapid deterioration in relations between China and the US over the past 12 months has left many scratching their heads and wondering how we got here. Stephen S. Roach is not one of those people. A former Chief Economist of Morgan Stanley and currently Senior Fellow at Yale University’s Jackson Institute for Global Affairs, Roach has been watching the development of Chinese-US relations closely for more than three decades. For him, a tariff war between the world’s two largest economies was as predictable as it is harmful.
The Sino-US trade tussle has had the greatest impact on multinational corporations in China—precisely the group that the US started out trying to support. Many have begun considering radical courses of action to stay in business.
After years of enjoying the fruits of a booming economy and sharply rising disposable income, life for many of China’s higher earners is getting harder. Amid mounting debt levels and economic headwinds, urban middle-class consumers have responded by scaling back their discretionary spending and reducing luxury purchases—an emerging phenomenon known as the “consumption downgrade.” The newfound frugality of middle-class spenders may be good for their wallets, but it is an unwelcome development for Beijing.