A common view of China’s central planning is that it has failed; since China grew faster when its reforms replaced planning with markets, the sooner China gets rid of Five Year Plans the better. This view is rather simplistic. Evidence shows that the Five Year Plans have played an important role in China’s progress. It was the fastest way for China to mobilize capital and labor for industrialization. And when China transitioned from a planned to a market economy and the two worked in parallel, it maintained employment, livelihoods, infrastructure and the supply of basic goods, hence a stable foundation for the nascent market economy.
China’s DJI holds a commanding lead in the red-hot consumer drone market. Can it maintain that?
This week, Premier Li Keqiang lowered the China GDP growth target to 7% from 7.5% last year; US President Barack Obama voiced concerns over China’s proposed anti-terrorism law because of its likely impact on US technology companies; and Xiaomi entered GoPro territory.
Author and researcher Leta Hong Fincher on the confounding phenomenon of women forfeiting their property wealth in China.
The government is putting wealth management in China under the microscope, and is slowly catching up with the inherent risk of wealth management products. Can banks continue to invent new skirting methods? Bank deposits are boring, says Jane, a new recruit at a local bank in Shanghai. In a country where the government holds deposit […]
China’s capital account liberalization and the new normal. Strolling through Hong Kong Central district at the junction of Garden Road and Queens Road Central, passers-by may not realize that they are at the epicenter of the next big step in global finance. Aside from remnant colonial buildings the architecture is 21st century urban, with signature […]
Various cities across China are restricting new car purchases in an effort to curb pollution and traffic using either auctions or lotteries. Which of these two methods works better? In efforts to contain rapidly-escalating congestion and pollution, city governments across China are experimenting with numerous methods to pull cars off the road. Some of these […]
No. Some Pain is Necessary in the Short Run The slow recovery of the US economy and the deep recession in the eurozone have cast a long shadow on the global economy. Given the strong headwinds faced by China’s exporters and the weak domestic demand, many have advocated another stimulus package to arrest the […]
Yes. It could Energize the Faltering Economy China’s 2008 economic stimulus has led to concerns that if another such package were to be introduced today, it would lead to similar problems of overinvestment, overcapacity, increased social inequality and rising local debts. I, however, feel that these fears are misplaced. Since 2008, the Chinese economy has […]
GETTING BEIJING’S TAXIS TO MOVE, NOT SIT Starting this week, Brian Viard, Associate Professor of Strategy and Economics at Cheung Kong Graduate School of Business, will explore the workings of economics in everyday life and business in China through this fortnightly column A few weeks ago, I was standing outside a Beijing subway station desperately […]