With the growth of China’s economy came a host of new jobs, raising millions of people out of poverty. How are businesses cashing in on the now massive lower-middle income demographic?
Fu Chengyu, Professor of Management and director of the Research Center on Governance and Management of Large Corporations at the Cheung Kong Graduate School of Business, recently shared his insights on the “Impact of the Oil Market Shock on the Global Economy.” His webinar attracted over 440,000 online viewers. Fu Chengyu has more than 40 years of experience in the oil and gas industry, including as chairman of Chinese oil and gas enterprise Sinopec and chairman and CEO of the China National Offshore Oil Corporation (CNOOC). During the webinar, Professor Fu discussed the long term impact of the COVID-19 crisis on oil prices and how the dramatic fall in price has been a big plus for the Chinese economy.
Dexter Roberts, author of The Myth of Chinese Capitalism: The Worker, the Factory, and the Future of the World looks at China’s economy and how its capitalism differs from anywhere else in the world With China and the United States seeing their relative levels of power on the world stage converge and their political differences […]
China’s economy today is driven more by domestic consumption than exports. To what extent are exports still vital to China’s growth? China’s phenomenal growth and rising prosperity over the past four decades was kickstarted by export manufacturing. This remains a crucial part of the economy even though domestic demand is becoming ever more important. But […]
China’s massive outward direct investment spending spree has stalled after a series of policy shifts and strong capital controls. What happens next?
After a stream of scandals and medical incidents, the Chinese public appears to be losing faith in drugs made in China. What are the implications for domestic and international pharmaceutical companies?
China has approved five new varieties of genetically modified crops for import, highlighting the huge impact Chinese GMO restrictions have on the global agricultural sector. Is Beijing planning to relax its near-total ban on GMO?
Adidas’s Yeezy sneakers designed by rapper Kanye West have been among the world’s best-selling footwear since they were released in 2015, and a pair of Yeezy Boost 350 V2s retails for up to $1,000 on most e-commerce sites. But on Alibaba’s Taobao site, the world’s largest online marketplace, vendors offer the same pair of sneakers for as little as RMB 300 ($45). That sounds too good to be true, and it is. They are counterfeits.
China’s economy seems to be slowing faster than the government would like, and US trade war tariffs are just one of the issues weighing down overall growth and threatening hopes for a choreographed and gradual deceleration. The last time this happened in 2008, Beijing responded with massive stimulus spending, thereby creating a debt mountain. This time, what should the economic planners do?
People have been making art in China for at least 4000 years, but the modern era of China’s art market dates from the early 1980s, when the government opened the economy to private enterprise and the country began to recover from the ravages of the Cultural Revolution (1966-1976), a period when most art, new and old, was derided as decadent and counter-revolutionary.