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Getting Bikes off the Streets Helps Bike-Sharing Firms

December 18, 2020 By Brian Viard

China’s bike-sharing regulations accomplished what the firms wanted to do on their own, but were unlikely to achieve. By freezing (and even reducing over time) the number of bikes, the government helped reduce industry output. Effectively, the firms stopped competing on the number of bikes.

Filed Under: China, Economics, Invisible Hand Revealed Tagged With: Economics in China, Everyday Economics

How to Design Your Next Product? Damage It

October 27, 2020 By Brian Viard

In this series of articles, Professor Viard discusses the role of economics in everyday life in China and the world. Last time I talked about price discrimination and printers. That got me thinking about an experience I had last summer. I ventured into the Tesla dealership in Beijing’s Parkview Green building to check out the […]

Filed Under: All Articles, China, Consumers, Economics, Invisible Hand Revealed, Marketing Tagged With: Tesla

An Intentional Misprint

September 29, 2020 By Brian Viard

ink cartridges

In this series of articles, Professor Viard discusses the role of economics in everyday life in China and the world. Recently, I shipped a Hewlett Packard (HP) printer that I had purchased in Beijing to use in my office in Hong Kong. It arrived in good condition and I replaced the ink cartridges with new […]

Filed Under: China, Economics, Invisible Hand Revealed Tagged With: Economics in China, Everyday Economics

Trading Places: Is China Entering a Current Account Deficit?

November 26, 2018 By James Lord

China’s huge current account surplus was once the symbol of its status as the “factory of the world.” But in recent years, that surplus has been shrinking. Last year, it sank to 1.3% of GDP. The half-year deficit announced in August was the first in more than 20 years. Some economists predict China could soon be running a current account deficit. If that happens, it will be a watershed moment with implications for all manner of issues, from the policies Beijing is able to pursue to the status of the RMB as a global currency and maybe even the way the US finances its debt.

Filed Under: All Articles, China, Chinese Economy, Economics, Globalization, International Trade Tagged With: Trade

Daniel Kahneman Interview: Less-Than-Rational Actors

September 11, 2017 By Tom Nunlist

Before Daniel Kahneman, few if any psychologists influenced the field of economics. But the Nobel laureate reversed the assumption underpinning most economic theories: people always make rational choices. “People are rational, except they are myopic,” says Kahneman. As a result of his work, which pioneered the ideas of behavioral economics, individuals learned how to modify their less-than-perfect decisions and organizations learned to take human limitations into consideration in decision-making. In this interview, Kahneman talks about the history of his research, how he, who began as a psychologist, ended up influencing economics, and why his work generated so much impact.

Filed Under: All Articles, Economics, Opinion, Q&A, The Thinker Interview Tagged With: behavioral economics, chioce architecture, human behaviour, psychology and economics, the assumption of rationality

CKGSB Business Sentiment Index 2017 Q1: Still Under Pressure

July 3, 2017 By CKGSB Knowledge

Although official data for first-quarter GDP and industrial growth exceeded expectations, the industrial economy has not yet bottomed out, according to the latest CKGSB survey. The survey, led by CKGSB Professor Gan Jie, shows that overcapacity remains at a historical high, both in terms of its prevalence and severity in Q1 2017. As in 2016 Q4, rising costs have been the driving force behind rising prices. Among firms with product costs inflation above 5%, cost rises were the most prominent. Meanwhile, the advantage of state-owned firms over private firms has increased in recent quarters.

Filed Under: All Articles, BCI, China, Chinese Economy, Economics

How Hard Is It to Cut Chinese Government Debt?

March 15, 2017 By Liu Sha

Debt is a ticking-time bomb for the Chinese economy. In the past three years central government stopped local governments from financing through investment vehicles and set a cap for the issuance of bonds. But new forms of debt continue to be formed. Local officials appear not to care about borrowing more, as long as the money can be used in projects that may translate to political achievements. And with those achievements, officials will be promoted to a higher level–as will the debt burden. A more worrisome thought will be: can those additional government debts and investments support China’s long-term growth?

Filed Under: All Articles, Chinese Economy, Economics, ExpertSpeak, Know China Tagged With: GDP Growth, Inflation, Local Debt

Xu Chenggang on Chinese Economic Reform: Government Stimulus Cannot Sustain Long-Term Growth

February 22, 2017 By CKGSB Knowledge

China’s economic growth over the past few decades has impressed the world. But the world’s second largest economy now faces a difficult transformation: from relying on exports and investments to developing domestic demand. That’s not easy. Government-led stimulus is only a temporary solution and only looked reasonable in the first few years after the recent global financial crisis. In fact, the main problem facing the Chinese economy has been the weak demand in domestic market which manifested clearly in 2006, and became more obvious when growth slowed down.

Filed Under: All Articles, Chinese Economy, Conversations, Economics, Finance, Know China Tagged With: Economic Reform, Housing Prices, Local Debt, Overcapacity, RMB

Bargaining on China and Brexit

January 19, 2017 By Douglas Bulloch

On the morning of June 24, 2016, China woke up to witness an unexpected drama unfolding half a world away. The previous day, millions of UK citizens had voted on whether the UK should remain in the European Union, and all opinion polls, betting and market expectations pointed firmly towards ‘Remain.’ But as the early results came in, the startling prospect of Brexit became a reality. Some people think “Brexit has indeed diminished Beijing’s hopes of treating the UK as a strong advocate for China in the EU”, and there are another voices like “The Chinese… have other ways to penetrate the EU market, for example [through] Greece,” and in a sense they are both right. How will China and the UK’s “Golden Relationship” play out in the Post-Brexit era?

Filed Under: All Articles, Brexit, Economics, Globalization, Policy and Law Tagged With: Brexit

Arthur Kroeber: Making Sense of China’s Economy

November 9, 2016 By Tom Nunlist

China has achieved almost miraculous advancement in a mere 30 years, but at the same time is beset with a host of structural problems and contradictions that it must grapple with, especially as economic growth begins to slow. In this interview, Kroeber, the author of China’s Economy: What Everyone Needs to Know, a comprehensive introduction to China’s rise from an economic backwater in the early 1980s to the world’s second-largest economy, offers his analysis to CKGSB Knowledge on how China got here, where it might be headed, and how to understand the changes and implications.

Filed Under: All Articles, Chinese Economy, Conversations, Economics, Economy, Know China, Q&A Tagged With: Chinese Economy, Q&A

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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