Journal articles on the topic 'Market Economy in China'
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1
HUA, HUANG. "The Market Economy in China." Security Dialogue 24, no. 2 (June 1993): 175–79. http://dx.doi.org/10.1177/0967010693024002008.
2
Berger, Ron, Chong Ju Choi, and Ram Herstein. "China’s Social Market Economy." International Journal of Asian Business and Information Management 4, no. 1 (January 2013): 21–30. http://dx.doi.org/10.4018/jabim.2013010103.
Abstract:
In 2011, China continues to be the world’s largest recipient of direct foreign investment—which in 2010 totaled US$105 billion. China is also the world’s second largest economy after the U.S. Once a staunchly Communist state, China now advocates a “social market economy” as its business system. The purpose of this paper is threefold. First, this paper seeks to understand what is meant by a “social market economy”. Second, the paper analyzes the traditional shareholder and stakeholder debate by examining different national economies together with their respective societies in terms of business systems. Third, the paper discusses some implications of the emergence of the Chinese economy and business system in the context of potential contributions to social science research. This paper shows that China’s social market economy has many similarities to the stakeholder business system increasingly advocated in global ethics research and presents the challenges to be faced by China’s social market economy in the future.
3
Fang, Junze. "The Way China's Futures Market Serves the Real Economy." Advances in Economics, Management and Political Sciences 88, no. 1 (June 10, 2024): 201–6. http://dx.doi.org/10.54254/2754-1169/88/20240976.
Abstract:
The futures market was initially established to address the limitations of the spot market and to serve the real industry in the supply side of raw material stability. With the development of the financial system, futures as major financial derivatives and global markets are highly connected. Previously, scholars have conducted many in-depth studies on the role played by the futures market, while this paper mainly focuses on China, focusing on the impact of the futures market on the real industry. The futures market has matured over the past three decades of development in China to become a major derivative trading market. The role of the financial market is ultimately implemented to serve the real industry. This paper focuses on the system of the futures market in China, and the core function of the futures market, and argues how the futures market can serve China's real economy. By reviewing the previous studies, this essay summarises the main roles of the futures market and provides suggestions for the development of the futures market in China based on the current situation of the Chinese market.
4
Boni, Lyudmila. "Basic Economic System of Socialism and Market in China." Problemy dalnego vostoka, no. 4 (2022): 22. http://dx.doi.org/10.31857/s013128120021164-1.
Abstract:
The Chinese science’s recognition of the possibility of a market under socialism in China was a major breakthrough in the theory of Marxism. The combination of socialism and the market marked the beginning of formation of a socialist market economic system and development of mixed economy with the public property as basic. The principle of “public property is the basis，joint development of the economy of many forms of ownership” was officially called the specifics of Chinese socialism at the initial state of its development and one of its most important advantages, that made it possible to ensure high economic growth rates over the past 40 year and to transfer China into the second world economic power. But this specificity and the advantages of socialism with Chinese specifics can be manifested and realized on the institutional level only through a certain coordinate system, known as the fundamental system for state governance, namely through one of its system responsible for governing the Chinese economy, known as the basic economic system of socialism. In 2019 according to the decision of the 4th plenum of the CPC Central Committee of the 19th convocation, the status of the socialist market economy system was raised: it was announced as an integral part of the basic economic system of socialism, which is responsible for guidance and development of China’s economy at the institutional level. The role and significance of the market system of China has increased sufficiently: the market is going to become the decisive driver for socialist modernization of the Chinese economy.
5
Danilin, I. V. "Development of the Digital Economy in the USA and China: Factors and Trends." Outlines of global transformations: politics, economics, law 12, no. 6 (December 30, 2019): 246–67. http://dx.doi.org/10.23932/2542-0240-2019-12-6-12.
Abstract:
Complex research of the “digital economy” in the U.S.A. and China –undisputable leaders of the phenomena – appears to be an important research task. This article is focused on identifying its` key factors and developmental trends (also important for understanding global processes). Growing economic impact and dominance of the U.S.A. and China in the “digital economy”, especially on the Internet markets, is confirmed – with special attention to the extra-large platformic companies. Analyzing the history of the “digital economy” in both nations primacy of market success factors is stated – while stressing important role of technological specifics in shaping trends. For the U.S.A. the key drivers were meeting existing demand on the traditional markets with fundamentally new technological products, as well as formation of new markets to address existing latent demand. For China originally it was inability of the service sector to address growing internal demand, which supported strong growth of internet markets as a fast and cheap alternative (using localized western technologies and business models). Sizable market, governmental support, and later strong investments in technology and innovation determined China`s leadership in the digital economy– with overcoming the U.S.A. in some areas. In conclusion, it is noted that the importance of original digital economy drivers (U.S. technological superiority, China`s huge growing market, etc.) in both nations is expiring. This makes serious changes inevitable. The situation is complicated by growing challenges for the digital economy – from evolving regulatory framework to digitalization of the global economy.
6
Rinaldi‐Larribe, Marie‐José, William S. Lightfoot, and Zhongxiu Zhao. "Does China deserve the market economy status?" Journal of Chinese Economic and Foreign Trade Studies 2, no. 2 (June 19, 2009): 110–20. http://dx.doi.org/10.1108/17544400910966086.
7
Clarke, Donald C. "Legislating for a Market Economy in China." China Quarterly 191 (September 2007): 567–85. http://dx.doi.org/10.1017/s0305741007001579.
Abstract:
AbstractSince the early 1990s, China has come a long way in legislating the foundational rules for its reformed economy. Virtually all of the important areas – contracts, business organizations, securities, bankruptcy and secured transactions, to name a few – are now covered by national legislation as well as lower-level regulations. Yet an important feature of a legal structure suited to a market economy is missing: the ability of the system to generate from below solutions to problems not adequately dealt with by existing legislation. The top-down model that has dominated Chinese law reform efforts to date can only do so much. What is needed now is a more welcoming attitude to market-generated solutions to the gaps and other problems that will invariably exist in legislation. The state's distrust of civil-society institutions and other bottom-up initiatives suggests, however, that this different approach will not come easily.
8
Sekakela, Kedibonye. "The impact of trading with China on Botswana’s economy." Journal of Chinese Economic and Foreign Trade Studies 9, no. 1 (February 1, 2016): 2–23. http://dx.doi.org/10.1108/jcefts-09-2014-0022.
Abstract:
Purpose – The purpose of this paper is to examine the impact of trading with China on Botswana’s domestic and third markets. The paper also assesses the structure and magnitude of Botswana–China bilateral trade. Design/methodology/approach – The paper used descriptive statistics such as graphic analysis to describe and summarize the basic features of the data. To reach conclusions that extend beyond the immediate data alone, the study applied Chenery Decomposition Approach and also applied the extension of Constant Market Share (CMS) analysis. Findings – Botswana mainly exports primary products to China and imports intermediate and capital goods, which are mainly used as inputs in the development of infrastructure in the country. Increased imports from China into Botswana’s domestic market has mainly replaced imports from other countries, and China’s textile, clothing and footwear (TCF) exports gained market share from Botswana’s TCF exports in the third markets, i.e. South Africa. Unlike Lesotho, the loss of market share by Botswana’s TCF exports in the South African market increased over the period under study. The Botswana Government needs to consider ways of enhancing Botswana’s TCF export competitiveness and learn lessons from China in relation to enhancing productivity in the TCF and other exporting industries. Research limitations/implications – Because of lack of data, this paper failed to estimate the impact of import penetration in the manufacturing subsectors and analyze the rapidly growing Botswana–China bilateral trade in services. There has been no estimate of the impact of intermediate and capital goods on production costs of Botswana’s productive sectors. Lastly, because of lack of data, there have been no estimates of Botswana’s consumer surplus generated from consuming relatively low-priced goods from China. Originality/value – This is the first study to carry out an empirical analysis of the Botswana–China trade relation. The study will be of value to academia and to policymakers who are interested in studying the China–Africa relation.
9
Wang, Zijian. "The Impact of Sino-US Trade War on The Stock Markets of The Two Countries." BCP Business & Management 38 (March 2, 2023): 3195–201. http://dx.doi.org/10.54691/bcpbm.v38i.4252.
Abstract:
This paper analyzes the parallels and variances between the stock markets of the US and China, and the impacts of Sino US Trade War on stock markets in the same countries. The findings are showing that the US and China exchange stock markets are divided into different stock markets and play a critical role in each country’s economy. The stock markets have some differences in the level of development of the accessibility to funds, with the US stock economy being more developed and more integrated into the economy than China's economy. The findings show the Sino-US trade war has been affecting China and the US stock markets negatively. The adverse effects reflect in stock market fluctuations, decline in market capitalization, market equity loss, reduction in prices, and the returns from the stock markets. These adverse effects imply that the Sino-US trade war created more negative impacts than the intended implementation goal.
10
Tsui, Ming, and Xiao Li. "Attitudes Regarding the Market Economy in Urban China." Sociology Mind 02, no. 02 (2012): 185–90. http://dx.doi.org/10.4236/sm.2012.22024.
11
Ding, Xiaoqin. "The Socialist Market Economy: China and the World." Science & Society 73, no. 2 (April 2009): 235–41. http://dx.doi.org/10.1521/siso.2009.73.2.235.
12
Wu, F. "Urban Processes in the Face of China's Transition to a Socialist Market Economy." Environment and Planning C: Government and Policy 13, no. 2 (June 1995): 159–77. http://dx.doi.org/10.1068/c130159.
Abstract:
In this paper the urban process in the face of China's transition to a market economy is examined from the perspective of political economy. Before economic reform, China operated a centrally planned economy. Production activities were organized on the basis of sectoral departments of the central government, and the reproduction of labour was carried out through self-contained development. The dominance of the state stemmed from its role in resource allocation. Economic reform, launched in 1978, introduced market mechanisms to urban processes in China. Through fiscal, housing, and land reforms decisionmaking was decentralized. Under so-called ‘comprehensive development’, municipalities are now required to organize urban development. The state has lost its dominant status in budgetary investment. Self-raised, extrabudgetary funds increased rapidly. Work units still extract surplus value efficiently but have had to become the major purchasers in housing markets because workers in the public sector cannot afford housing. The persistence of state ownership in the mode of production makes it unlikely that market forces will play a leading role in urban development in China.
13
Li, Weian. "The market-oriented governance model of SOEs: China perspective." Corporate Ownership and Control 3, no. 4 (2006): 108–22. http://dx.doi.org/10.22495/cocv3i4p9.
Abstract:
In the transition from centralized planned economy to market economy, reallocation of rights between the government and the market leads to the fundamental changes of economic structure, thus causing Paradigm shift from the government-oriented governance pattern in China. Based on survey of 104public listed companies in China, a descriptive analysis of the market-oriented governance pattern of SOEs is provided. The internal and external governance mechanisms in market-oriented governance model are designed to enhance the reform of modern enterprise institutions in China
14
Zhou, Wen. "Expanding and developing the theoretical implications of socialist market economy with China's experience." China Political Economy 6, no. 1 (December 12, 2023): 29–34. http://dx.doi.org/10.1108/cpe-06-2023-031.
Abstract:
PurposeExpanding and developing the theoretical implications of socialist market economy with China’s experience.Design/methodology/approachIn the course of exploring the development of a market economy, China has given full play to the advantages of the socialist system, which has distinguished itself from the Western countries and some of its developing peers. China's market economy is not directly transplanted and copied from the West. China not only insists on growing its market economy but also unswervingly sticks to the socialist orientation of its market economy.FindingsSo far, the socialist market economy has proved to be more effective than the conventional one-sided, planned economy and also outperforms the capitalist market economy.Originality/valueThe socialist market economy has surpassed the conventional planned economy and the capitalist market economy – it is a reconstructed and reshaped mechanism and system as well as a successful and new path of market economy explored by China through reform and opening up, rather than a counterpart of Western market economy or the simple combination of socialism and market economy.
15
Liow, Kim Hiang, Jeongseop Song, and Xiaoxia Zhou. "Volatility connectedness and market dependence across major financial markets in China economy." Quantitative Finance and Economics 5, no. 3 (2021): 397–420. http://dx.doi.org/10.3934/qfe.2021018.
16
Nee, Victor, and Yang Cao. "Market Transition and the Firm: Institutional Change and Income Inequality in Urban China." Management and Organization Review 1, no. 01 (March 2005): 23–56. http://dx.doi.org/10.1111/j.1740-8784.2004.00003.x.
Abstract:
This paper examines how the rise of a market economy in urban China redefines the rules governing economic activities and affects on earnings inequality. We identify three causal mechanisms linked to institutional change that are transforming the firm's employment practices: the higher marginal productivity of a private enterprise economy relative to state-owned enterprises, competition by firms for skilled and semi-skilled labor following emergence of labor markets and the end of state monopoly on labor allocation, and increased emphasis on merit-based reward systems in firms. Analyses of survey data from urban China show how these three causal mechanisms stemming from the transition to a market economy contribute to new patterns of earnings differentiation that increase income returns to human capital and private-sector entrepreneurship.
17
Parfenova, Anastasiia. "Understanding the Cultural and Societal Factors Influencing Brand Renaissance." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 07, no. 11 (November 1, 2023): 1–11. http://dx.doi.org/10.55041/ijsrem27161.
Abstract:
This study examines how trade ties and the shift to a market economy affected the growth of the middle class in China and Russia between 1991 and 1998. It highlights the historical background of this time, which was marked by the fall of the Soviet Union and China's slow transition to an economy based on markets. The main goal is to comprehend how trade relations and market economies shaped the development of the middle class in these developing countries. A theoretical framework outlining the distinctive characteristics of transition economies and the societal shifts they entail is included in the research. It offers a thorough examination of the social and economic changes that Russia and China underwent throughout this period, focusing in particular on the differences in their reform strategies. A comparative analysis is also conducted on the emergence of the middle class, the importance of small firms, and the impact of trade links between these countries. In the end, this research clarifies the complex interplay between trade ties, economic reforms, and the growth of the middle class in China and Russia during this pivotal time, with implications for more general policy issues.
18
Zhou, Yining. "China's Bond Market: The Current Situation, Problems, and Countermeasures." Advances in Economics, Management and Political Sciences 48, no. 1 (December 1, 2023): 230–37. http://dx.doi.org/10.54254/2754-1169/48/20230456.
Abstract:
It is undeniable that the bond market plays a key role in the social economy as a whole. Economic development and the state of the bond market often reflect the state of the country's financial markets. Bond markets in China have developed rapidly and have a large financing capacity. In recent years, however, the volatility of the bonds in China has gradually increased due to epidemics, policies and funds, etc. The bond market has undergone a drastic adjustment. This paper describes the current bond market situation in China, analyzes the problems, and proposes solutions for the market. The main problems are the credit risks in bond rating and the impact of political risks on bond market. This paper provides advice on credit risk from the perspective of creating a credit environment, improving data quality, and strengthening regulation. This study has a positive impact on China's bond market's development.
19
Wei, Li-Qun, and Xi Zou. "IKEA in China: Facing Dilemmas in an Emerging Economy." Asian Case Research Journal 11, no. 01 (June 2007): 1–21. http://dx.doi.org/10.1142/s0218927507000849.
Abstract:
This case summarizes the development of IKEA's China operations since the opening of its first store in Shanghai in 1998. Since then, IKEA had added four retail stores in Shanghai, Beijing and Guangzhou. Nevertheless, IKEA still had not been profitable in China. The case aims to identify the underlying factors that influenced IKEA's performance in China. The case starts by summarizing IKEA's history, including its organizational characteristics and the competitive dynamics in the Chinese furniture market. Building on this framework, the strategic challenges of IKEA in China are highlighted. In this regard, the case analyzes the effectiveness of IKEA's distinct furniture concept, pricing strategy, and market positioning in the Chinese furniture market. On the whole, the case aims to provide insights for international business development in the Chinese furniture market.
20
Wang, Yitian. "Development of China’s Derivatives Market: a Review of Studies." BCP Business & Management 44 (April 27, 2023): 219–24. http://dx.doi.org/10.54691/bcpbm.v44i.4815.
Abstract:
Under the background of globalization and financial innovation, the derivative markets in China have excellent growth potential as China is accelerating its transition towards a market economy, making it a valuable object for studies in financial derivatives. However, the market is still in its infancy. Relevant research focusing on China’s derivative market is relatively scarce and fragmented compared to those focusing on the developed economy. This paper intends to encourage more scholars to examine the Chinese derivative market and its characteristics by offering a review of the studies on China’s derivative markets, providing forward-looking opinions and direction of future research. The conclusion is as follows: (1) More research focusing on the period of crisis-like event needs to be done since they provide a basis to test the stability of China’s derivative markets; (2) the impact of derivative regulation in China should be carefully considered as the opinion of current research remain divided on this subject; (3) Future research should also focus on comparative analysis of market traits and linkage between China and other developed economies since the Chinese mainland market is adjusting to conform the international standard.
21
Wilson, Ernest J., and Adam Segal. "Trends in China's Transition toward a Knowledge Economy." Asian Survey 45, no. 6 (November 2005): 886–906. http://dx.doi.org/10.1525/as.2005.45.6.886.
Abstract:
This essay identifies critical trends in the evolution of information technology sectors in China. Chinese policymakers will have to make decisions in four areas that will shape the knowledge economy and may help transform China from being a technology market taker to a market maker.
22
Yue, Chia Siow. "ASEAN-China Economic Competition and Free Trade Area." Asian Economic Papers 4, no. 1 (January 2005): 109–47. http://dx.doi.org/10.1162/asep.2005.4.1.109.
Abstract:
The economic rise of China is having wide-ranging repercussions in ASEAN and the rest of the world. ASEAN perceives both threat and opportunity from China's economic success: the threat arises from the size and rapid growth of China's economy and the competition for export markets and foreign direct investment; the opportunity arises from possible increases in both exports to China's rapidly growing market and Chinese investment in ASEAN enterprises. ASEAN has embarked on deeper and faster integration toward an ASEAN Economic Community to meet these challenges and is simultaneously engaged in several ASEAN+1 initiatives to further improve its economic efficiency and market access. This paper explores the increasing competition and cooperation between ASEAN and China.
23
Beckington, Jeffrey S., and Paul C. Rosenthal. "The Peoples Republic of China: A Market Economy or A Non-market Economy in Anti-dumping Proceedings Starting on December 12, 2016?" Global Trade and Customs Journal 9, Issue 7/8 (July 1, 2014): 352–55. http://dx.doi.org/10.54648/gtcj2014044.
Abstract:
China's Non-Market Economy ("NME") poses a problem for countries that import Chinese products with computing reliable dumping margins based on arm's-length prices and costs. When it joined the World Trade Organization in December 2001, China agreed in its Protocol of Accession to be treated as a NME for 15 years. China's position now is that a market-economy methodology must thereafter automatically be used in all antidumping proceedings against China. Under the Protocol's terms, however, that shift is not required except to the extent China demonstrates it has made the transition to a market economy under the importing country's national law.
24
Hanafin, John J. "Morality and the Market in China: Some Contemporary Views." Business Ethics Quarterly 12, no. 1 (January 2002): 1–18. http://dx.doi.org/10.2307/3857645.
Abstract:
Abstract:A significant effect of China’s rejection of a planned economy for a free market is the stimulus this has given to discussion of the relationship between morality and the market. Some Chinese believe that the introduction of a market economy has had a negative effect on public morality. Others disagree and maintain that it has had only a positive effect. Besides this particular debate there are two others. In the first of these debates, it is maintained on the one side that conduct in the market is amoral and essentially contractual or transactional in nature: a boundary must be drawn between economic conduct and conduct in other spheres of social life. Against this it is argued that ethical norms apply equally to all aspects of social life including the economy. In the second debate one side holds that the market engenders its own “ethical” norms. In opposition it is argued that the moral categories articulated in moral philosophy are applicable to behaviour in the market.
25
Geetha, Caroline, and Soon Lin Fei. "THE STUDY ON THE LIQUIDITY TRAP IN CHINA’S MONEY MARKET." Malaysian Journal of Business and Economics (MJBE) 7, no. 1 (December 31, 2020): 75. http://dx.doi.org/10.51200/mjbe.vi.2566.
Abstract:
This study aims to identify the liquidity trap and indicate the factors that affect money liquidity in China. A liquidity trap is an economical issue which is faced by lots of developed countries when their economy has achieved a certain stage of development, such as Japan, America and Europe. However, China as the fastest-growing developing country, some scholars suggested that its economy has also being trapped in a liquidity trap. Thus, to verify this opinion, monthly data of several important economic indexes were selected through a series of econometric process to indicate two major findings. First, the economy of China has not fallen into a liquidity trap. Besides, the interest rate and real estate price had a negative impact on the liquidity of money in China while the development of the financial industry had a positive contribution.
26
Yang, Wanping, and Bingyu Zhao. "The Transmission Mechanism of China-Japan Economic Co-Movement and Stabilizing Measures for China’s Economy." SAGE Open 11, no. 1 (January 2021): 215824402110013. http://dx.doi.org/10.1177/21582440211001372.
Abstract:
How does the economy of China and Japan interact with each other? Through building vector autoregression (VAR) model, this study examines the transmission mechanism of economic synchronization among the two nations from three perspectives, namely foreign direct investment (FDI), bilateral trade, and political relation. Based on this, relevant stabilizing measures for China’s economy are proposed. The findings of this study are as follows: (a) There exists business cycle co-movement between China and Japan. (b) The transmission mechanism of this co-movement contains bilateral trade and FDI. Therein, import contributes the most to China’s economic fluctuation, which is followed by FDI and export. (c) Bilateral political relation exerts indirect influence on China-Japan economic synchronization. (d) The impact of Japan’s economic fluctuations on the economy of China would be mitigated by expanding international trade markets, reducing financial market access restrictions, strengthening the political mutual trust, and encouraging communications between China and Japan in science, technology, and education, etc.
27
Xinghua, Wei. "China Cannot Go in Fully for a Market Economy." Chinese Economic Studies 25, no. 2 (January 1992): 83–89. http://dx.doi.org/10.2753/ces1097-1475250283.
28
Zhang, Xianchu. "Commentary on “Legislating for a Market Economy in China”." China Quarterly 191 (September 2007): 586–89. http://dx.doi.org/10.1017/s0305741007001580.
Abstract:
Donald Clarke's article provides a pretty full and accurate review of legislative activities in the course of China's economic developments since 1992. His perceptive analysis not only reflects the important achievements of economic legislation and its undeniable contribution to market developments in China, but also critically conceptualizes the many-featured legislative practice within an established theoretic framework with an emphasis on institutional capacity building.
29
CHOW, G. C. "Development of a More Market-Oriented Economy in China." Science 235, no. 4786 (January 16, 1987): 295–99. http://dx.doi.org/10.1126/science.235.4786.295.
30
Rai, Shirin. "Market Economy and Gender Perception in Post-Mao China." China Report 24, no. 4 (November 1988): 463–67. http://dx.doi.org/10.1177/000944558802400404.
31
Karlusov, V. "China and the Global Crisis." Voprosy Ekonomiki, no. 6 (June 20, 2009): 125–36. http://dx.doi.org/10.32609/0042-8736-2009-6-125-136.
Abstract:
Based on the case of China, the article addresses the challenges posed by the current global crisis for national economies including Russia. In this context, the author analyzes the anti-crisis measures and factors, the evolution of Chinas socio-economic strategy and modernization of the real and financial sectors of the Chinese economy. The article also focuses on retrospective comparative assessment of economic dynamics, periodization, growth rates and future growth prospects of Chinas GDP. The final general conclusions are significant and relevant for China as well as for other economies in transition, catch-up and growing market economies including Russia.
32
Lan, Yuheng. "U.S.-China Real Estate Markets in Times of COVID-19." Advances in Economics, Management and Political Sciences 10, no. 1 (September 13, 2023): 96–101. http://dx.doi.org/10.54254/2754-1169/10/20230439.
Abstract:
In 2020, the world experienced the COVID-19 pandemic. This has had an extremely serious impact on the global economy. All industries have been greatly affected by such a severe economic situation. This paper assumes that the real estate market, as a part of the economic market, was also greatly affected. The purpose of this paper is to examine the effects that the real estate markets in China and the United States have suffered under this pandemic and to analyze the specific reasons and motivations behind these effects. Using statistical data from 2017 to 2022, this paper compares housing prices and transaction volumes in six major cities in China and the United States. The results of the study show a result contrary to the hypothesis that the real estate markets in China and the United States recovered after a period of recession and were able to reach higher levels than before the epidemic. Based on this result, the paper analyzes the causes of the impact on the real estate markets in China and the United States. There is evidence that the main causes affecting the Chinese real estate market are real estate policies and cultural phenomena, while the factors behind the impact on the U.S. real estate market are economic policies and epidemic management strategies.
33
Sun, Guozhi, Min Liang, and Shujuan Wei. "Strategic Analysis of Expanding Consumption Demand from the Perspective of Double Circulation." Advances in Economics and Management Research 4, no. 1 (March 7, 2023): 129. http://dx.doi.org/10.56028/aemr.4.1.129.2023.
Abstract:
In the process of economic development, China is trying to smooth the domestic circulation and promote the domestic and international double circulation so as to form a strong domestic market and build a new development pattern. China's socialist market economy is a market-oriented economy, which is essentially a consumer-demand-oriented economy. In its economic development, China has put more emphasis on taking consumption as the driving force of economic development, enhancing the contribution of consumption to economic development, and taking expanding domestic demand as the strategic basis for development. In order to expand domestic demand in the context of double circulation, we should pay attention to coordinating the relationship between accumulation and consumption, expanding domestic demand and opening up, supply structure and demand structure, urban and rural residents' income and social consumption power, give full play to the guiding role of consumption demand, form a positive interaction between consumption demand and economic growth, and promote the healthy development of the socialist market economy.
34
Zhou, Yuexi. "Is the Stock Market a Reliable Indicator of the National Economy? -- Empirical Analysis According to Chinese Data." Advances in Economics, Management and Political Sciences 20, no. 1 (September 13, 2023): 81–88. http://dx.doi.org/10.54254/2754-1169/20/20230176.
Abstract:
Based on Chinas economic data from 1992 to 2021, this essay employs the unitary linear regression model to investigate the effect of the Shanghai Composite Index on per capita GDP and carries out heterogeneity analysis from the perspective of different bank types. This paper concludes that the stock market in China has the function of a barometer. Based on different industries, the Chinese stock markets capacity as a barometer is effective in different industries, but Chinas stock market has the greatest effect on the tertiary industry, the second industry, and the least effect on the primary industry. Based on the expenditure approach, Chinese stock markets use as a barometer is effective for different components of GDP, but the effect of Chinas stock market on net exports of products and services is the largest, followed by government consumption and input-output ratio, and the effect on household consumption is the least. Based on the consideration of timing, the Chinese stock markets ability to serve as a barometer only took effect before the outbreak of the substandard goods crisis in 2008 and failed after the outbreak of the crisis.
35
Wang, Yuhui, and Shahzada Aamir Mushtaq. "Implications of the Digital Economy on Merger Control in Pakistan and China: Policy Implications for Pakistan." Journal of Politics and Law 15, no. 1 (December 12, 2021): 40. http://dx.doi.org/10.5539/jpl.v15n1p40.
Abstract:
The rise of the digital economy has challenged the foundation of competition law frameworks the world over. Today, the antitrust doctrine finds itself confronting a new economy; an econo-my wherein data acts as a currency, markets are without prices, market collisions are based on algorithms, and the market is ‘infinite’. Several jurisdictions such as Germany, Austria, and China have developed new regulations or amended existing legislations to confront the chal-lenges presented by the digital economy. A dearth of theoretical and empirical literature has evaluated whether digital markets are so fundamentally different as to require a different set of rules. Of specific interest to this paper is whether current competition rules are sufficient to deal with mergers and acquisitions (M&As) in digital markets. This paper assesses M&A regulations in China and Pakistan in light of the new digital economy. Expert interviews were conducted using semi-structured interviews to investigate the comparisons between Pakistan’s and China’s merger control regimes. The findings indicate that China’s merger control regulations are better adopted for the digital economy than Pakistani’s. It also sets out the policy implications for competition policy makers in Pakistan.
36
Csaba, László. "China at the crossroads." Acta Oeconomica 70, S (October 16, 2020): 5–14. http://dx.doi.org/10.1556/032.2020.00023.
Abstract:
AbstractThis essay joins in the international controversy about the nature and sustainability of the economic system in China. While official ideology continues to stick to the concept of ‘socialist market economy,’ albeit with changing contents, international observers are split. One group considers China as a de facto market economy, which is in line with the top-down tradition of ruling in the region. Others consider it as a sui generis system. And a third line takes it as yet another case of hybrid regime which proliferated globally in the new millennium. I try to create a link between these readings and the empirics of Chinese growth. This may help interpret the slowdown, exacerbated by the COVID-19 epidemics on Chinese output.
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Setiawan, Budi. "Does US-China Trade War Matter on ASEAN Stock Market: Event-study Approach." SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS 4, no. 3 (September 28, 2020): 161. http://dx.doi.org/10.29259/sijdeb.v4i3.161-74.
Abstract:
The trade war between the US and China by imposing tariffs has the potential to affect global financial stability. As the largest economy in the world, the US and China had been trading goods and services globally. Then, when these countries have retaliated, the tariff war will affect the global supply chain, international trade, economy, and the stock market. This research examined the effect of the US-China trade war on ASEAN stock prices using an event-study approach. The result shows that the ASEAN stock market has positive abnormal returns during pre-event period (12%). In contrast, ASEAN stock markets shifted to negative abnormal return (-7.4%) in the short-term window, indicating that the stock market is efficient. Stock price reflects the information from the market quickly. However, the impact of the trade war on the ASEAN stock market is insignificant.
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Kügler, Agnes, Klaus Friesenbichler, and Cornelius Hirsch. "Labour Market Effects of Trade in a Small Open Economy." REGION 11, no. 1 (January 31, 2024): 1–26. http://dx.doi.org/10.18335/region.v11i1.466.
Abstract:
Austria is a small open economy that in the last decades underwent two different waves of increasing trade integration: one with Eastern Europe and one with China. Drawing on trade theory, this paper studies the effects of increases in trade with China and Eastern Europe on labour market dynamics in Austrian NUTS-4 regions for two ten-year periods between 1995 and 2015. Given the limited data available, the current analysis could not identify significant effects on aggregate labour dynamics neither for rising imports from Eastern Europe or China, nor for rising exports to Eastern Europe. However, there is weak evidence that exports to China have facilitated employment growth, especially in high quality segments. Overall, these results add a cautious perspective to the discussion of import competition.
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Lu, Haoyang, Alistair Hunt, and Bruce Morley. "The Impact of Heterogeneous Environmental Regulation Tools on Economic Growth: Can Environmental Protection and Economic Growth Be Win-Win?" Sustainability 16, no. 13 (June 29, 2024): 5585. http://dx.doi.org/10.3390/su16135585.
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Abstract: This paper explores the relationship between economic growth and environmental regulation using panel data for 30 provinces in China from 2009–2021 using the fixed effects model and the threshold model. First, the baseline regression results show that market-based environmental regulation promotes economic growth. However, command-and-control environmental regulation in China can not promote China’s economic growth. Second, further research has shown that environmental regulation’s role in promoting the economy is constrained by the intensity of environmental regulation. Market-based environmental regulation is only able to promote economic growth when the intensity is low. If the intensity of market-based environmental regulation is too high, market-based environmental regulation, on the contrary, can not promote economic growth. Third, The impact of market-based environmental regulation on economic growth also is found to be constrained by the level of economic development: market-based environmental regulation does not promote economic growth when the economy is less developed. It is only when the economy has reached a high level that market-based environmental regulation will contribute to economic growth. Finally, this paper finds that financial development and market-based environmental regulation can synergize to promote economic growth.
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Morales, Lucía, and Bernadette Andreosso-O’Callaghan. "Challenges and Opportunities Brought to the Chinese Economy by Brexit and the New US Administration." Journal of Emerging Market Finance 18, no. 2 (June 7, 2019): 145–71. http://dx.doi.org/10.1177/0972652719846304.
Abstract:
The impact of Brexit and the election of Donald Trump as the 45th US president in the context of stock market reactions and economic policy uncertainty (EPU) within three key zones in ‘the Greater China Region’ (Hong Kong, Taiwan and China Mainland) are examined in this article. The chosen research period is from January 2014 to June 2017, and the EPU Index in the USA and the UK is used as a proxy to measure political uncertainty in two of the world major economies and how they impact on the Chinese stock market. The main contribution of the article can be found in the analysis of how stock market performance can be driven by policy-related uncertainty shocks in the international context. The results show that the stock markets in the ‘Greater China Region’ did not seem to react either to the uncertainty generated by Brexit or to the election of Donald Trump, implying that the Chinese stock markets appear to be quite resilient to the recent political events that have been disrupting the global economy. JEL codes: G58, G15, G18
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Ahn, Ji-Young. "An Analysis of Market Failure aspects in Chinese High School's ｢Ideological and Political｣ Textbooks." Korean Association For Learner-Centered Curriculum And Instruction 22, no. 18 (September 30, 2022): 171–93. http://dx.doi.org/10.22251/jlcci.2022.22.18.171.
Abstract:
Objectives This study aims to analyze the trend of market failure by period in the Chinese high school ｢Ideological and Political｣ textbook published from 1983 to 2019 to explore how market failure in China by period is reflected in the textbook.
Methods 12 textbooks were collected and analyzed in 1983, 1989, 1998, 2004, 2011, 2016, and 2019 published in line with the revision cycle of the ｢Ideological and Political｣ curriculum in Chinese high schools. The collected data were analyzed based on China's economic development stage and the definition of market failure, and both text and illustration were included.
Results As a result of the analysis, the pattern of market failure in the Chinese high school ｢Ideological and Political｣ textbooks appears differently depending on the period. Market failure in the textbooks during the Chinese market economy exploration stage (1978-1991) was monopolization, corruption, inflation, and widening the income gap. Market failure in textbooks during the Initial construction stage of the market economy (1992-2001) is administrative monopoly, Counterfeit Products, mammonism, unfair competition. Market failure in the textbooks during the stage of full-scale and in-depth reform (2002-2012) is corruption, economic instability, administrative monopoly, counterfeit products, distributionism, unfair competition, illegal fundraising and investment, socioeconomic inequality, and environmental issues. Market failure in textbooks in comprehensive deepening of reform (2013~present) is administrative monopoly, unfair competition, monopoly, Socio-economic inequality, environmental issues, urbanization, economic instability and supply-side structural reform.
Conclusions In Chinese high school ｢Ideological and Political｣ textbooks, market failure is the basis for the party and the government's involvement in the economic field. Administrative monopoly, which appears only in China, a country in the transition period of the economic system in Chinese textbooks, is also a problem in the market. Since the market has inherent problems such as unfair competition, monopoly, damage to social equity, and widening income gap, it is argued that control and control of the national economy of the country are needed before the market failure of the market. The logic of the Communist Party of China has been consistently reflected since China adopted a socialist market economy system, and in particular, the 2019 textbook shows a strong tendency for state-led economic growth led by the party.
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Meng, Xin. "Labor Market Outcomes and Reforms in China." Journal of Economic Perspectives 26, no. 4 (November 1, 2012): 75–102. http://dx.doi.org/10.1257/jep.26.4.75.
Abstract:
Over the past few decades of economic reform, China's labor markets have been transformed to an increasingly market-driven system. China has two segregated economies: the rural and urban. Understanding the shifting nature of this divide is probably the key to understanding the most important labor market reform issues of the last decades and the decades ahead. From 1949, the Chinese economy allowed virtually no labor mobility between the rural and urban sectors. Rural-urban segregation was enforced by a household registration system called “hukou.” Individuals born in rural areas receive “agriculture hukou” while those born in cities are designated as “nonagricultural hukou.” In the countryside, employment and income were linked to the commune-based production system. Collectively owned communes provided very basic coverage for health, education, and pensions. In cities, state-assigned life-time employment, centrally determined wages, and a cradle-to-grave social welfare system were implemented. In the late 1970s, China's economic reforms began, but the timing and pattern of the changes were quite different across rural and urban labor markets. This paper focuses on employment and wages in the urban labor markets, the interaction between the urban and rural labor markets through migration, and future labor market challenges. Despite the remarkable changes that have occurred, inherited institutional impediments still play an important role in the allocation of labor; the hukou system remains in place, and 72 percent of China's population is still identified as rural hukou holders. China must continue to ease its restrictions on rural–urban migration, and must adopt policies to close the widening rural–urban gap in education, or it risks suffering both a shortage of workers in the growing urban areas and a deepening urban–rural economic divide.
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Fu, Maggie Mei-Zhi, Kokkiang Tan, Ahmad Nadzri Rose, and Banafsheh Samadi. "Spillover Effect of Chinese Export on New ASEAN-5 Stock Markets using Markov Regime Switching Model." International Journal of Advanced Business Studies 2, no. 1 (March 1, 2023): 53–64. http://dx.doi.org/10.59857/raod1747.
Abstract:
China as the second largest economy supposes to produce spillover effect on the emerging market economies especially the ASEAN nations. The main objective of this paper is to study the spillover effect of the Chinese export on the new ASEAN-5 stock markets (Indonesia, Malaysia, Philippines, Thailand, and Vietnam). In this paper, multivariate Markov-Switching Intercept Autoregressive Heteroscedasticity (MSIAH) model is employed to analyze the linkage between Chinese export and the new ASEAN-5 stock markets over the sample period of August 2000 to December 2018. The monthly data have been analysed using EViews. Their relationship is also strong and positive. The findings report that the spillover effects of China export on new ASEAN-5 stock markets is significant. There is positive relationship between China export and the stock markets for both regimes. The conclusion can be made is China exports should be one of the important factors in determining the stock prices in new ASEAN-5 stock markets. Investors should alert China export information when investing in new ASEAN-5 stock market. New ASEAN-5 are important emerging economies in Asia Pacific region and China is a rising economic power, but there is very least literature to study the Spillover effect of China export on stock market in new ASEAN-5.
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Wang, Linlin. "The New Characteristics of Crimes that Undermine Market Economy Order and Regulation in Criminal Law." International Journal of Social Sciences and Public Administration 3, no. 1 (May 27, 2024): 25–29. http://dx.doi.org/10.62051/ijsspa.v3n1.05.
Abstract:
Chapter 3 of the Criminal Law of the People's Republic of China makes specific provisions for acts that undermine market economy order. However, with the development of society and economy, some new types of acts that undermine market economy order have emerged in market economic activities. These acts either have new subjects or new means and tools, or have new objectives, which seriously undermine market economy order and cause property losses to the state and people. Perfecting the criminal law regulation of these new types of acts is crucial for maintaining a regulatory system for undermining socialist market economy order.
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Reshetnikova, Marina S. "China venture market overview." RUDN Journal of Economics 27, no. 4 (December 15, 2019): 753–60. http://dx.doi.org/10.22363/2313-2329-2019-27-4-753-760.
Abstract:
Today the Chinese economy has rapidly begun the transition to a new stage of development. Its basis is high-tech production and national breakthrough technologies. This process happens due to the transformation of the government strategy in the direction of scaling up innovation through the inclusion of small and medium enterprises. China has been able to raise venture investments for its new development plan. However, since 2016, the rapid growth of the Chinese venture market has raised many concerns. The purpose of the study was to analyze and assess the current state of China's venture capital market. The research proved that, despite signs of overheating, it is still premature to talk about the formation of a “bubble” in the Chinese venture market. The article concludes with a discussion that China is transforming itself again and that the next wave of innovation and private entrepreneurship will be the wave of the future, with substantial global consequences.
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Sarkytkan, Kaster, and Kanat Masabaev. "NEW STAGE OF DEVELOPMENT OF KAZAKH-CHINESE RELATIONS: STRATEGY, INTEGRATION AND INVESTMENT." KAZAKHSTAN ORIENTAL STUDIES 6, no. 2 (June 11, 2024): 54–65. http://dx.doi.org/10.63051/kos.2023.2.54.
Abstract:
This article provides a detailed review of the priority areas of China's development strategy at the global and regional levels, based on the favourable geographical location of the People's Republic of China and progress of the current state of development after transition to the market economy. In addition, the stages of development and directions of China's market relations and the successes achieved are formulated with the use of relevant data. The article also analyses the common features and differences of market-economic relations between China and Kazakhstan, and discusses the preconditions for achieving the success of the Chinese economy. The following part of the article analyses China's influence on the world economy through the One Belt, One Road strategy, the economic aspects of the establishment and the state of development of the Chinese Initiative. In the concluding part of the article, the trade, economic and investment relations between Kazakhstan and China are characterised. This emphasises the importance of Kazakhstan among Central Asian countries in China's economy and forecasts the future development of ties between the two countries.
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LARIONOV, Aisen Afanasievich, Evgeniy Fedorovich AVDOKUSHIN, and Galina Ivanovna RATZ. "Startups Creation and Development in China." Journal of Advanced Research in Law and Economics 11, no. 4 (June 15, 2020): 1191. http://dx.doi.org/10.14505//jarle.v11.4(50).15.
Abstract:
The reform of the economic system in China initiated under the leadership of Deng Xiaoping in the late 70s of the 20th century included as the main components and mechanisms the gradual and consistent elimination of the state’s status of a monopoly economic entity. The economic reform was aimed at, first, the de-collectivization of the agricultural sector, the gradual implementation of individual and private forms of ownership, private economy management, and the transition from an administrative-command model of economic management to the use of commodity-money, and then market methods of economy management at the determining and directing role of the state. An open-door policy and foreign economy, as well as the use of the global economy mechanisms and potential, have become the most important components of economic reform and the entire development model of the Chinese economy.
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Spartak, Andrey N., and Tatiana A. Voronova. "Medium- and Long-Term Trends in the Development of the World Economy." International Trade and Trade Policy, no. 4 (January 3, 2020): 5–30. http://dx.doi.org/10.21686/2410-7395-2019-4-5-30.
Abstract:
The article deals with long-term trends in the world economy and international trade, new challenges for global development, including digitalization and servicification of the economy, trade wars and increasing geopolitical tensions in the world. Also the medium-term prospects of world economic and commodity markets situation are analyzed, as well as specific economic developments in the largest countries and groupings – the USA, EU, China and India. The unprecedented scale of trade and economic confrontation between the United States and China has significantly increased uncertainty in the global market and provoked an explosive growth of trade protectionism, destabilized the foundations of the existing world economic order. Long-term structural shifts in international trade are associated with an increase in the share of services and expanding range of tradable services due to digitization, in the world energy market – with the US becoming one of the largest net exporters of energy and the formation of a highly competitive global gas market due to the explosive growth of LNG exports and the diversification of its suppliers. Almost all future scenarios are dominated by downside risks and strategic uncertainties, which increases the demand for multi-vector policy and diversification in foreign economic activity.
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Herrala, Risto, and Yandong Jia. "Toward State Capitalism in China?" Asian Economic Papers 14, no. 2 (June 2015): 163–75. http://dx.doi.org/10.1162/asep_a_00360.
Abstract:
We study empirically credit availability of listed firms in China for the years 2003–11 to uncover underlying trends in economic policies. The estimations indicate increasing favoritism of state-owned firms in credit availability, consistent with a drive toward “state capitalism.” Initially, favoritism applied mainly to firms owned by the central government, but the difference between central and local government firms gradually diminished to insignificance. These results signal that economic policies pushed the Chinese economy from the path toward a market economy and state capitalism, and that the economic importance of local governments was growing.
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Zhang, Yanwen. "Current Situation, Problem and Solution of the Bond Market of China." Advances in Economics, Management and Political Sciences 4, no. 1 (March 21, 2023): 554–60. http://dx.doi.org/10.54254/2754-1169/4/2022954.
Abstract:
In 2010, the economy scale of China has become the second largest in the worldwide after exceeding Japan which just next to the economy scale of United States which has kept playing an important role in the global economy. In this case, more and more attention has been focused on it and especially for its financial market which is young but huge in scale. However, as the Chinese financial market was firstly established in 1993, the history of its development is very short and the research related to it is very limited, particularly for the bond market of China which has a very different institution and structure compared with the bond market of the main developed countries in the world where the main changes are followed by the instruction and plan of the government. As the bond is the financial instrument which decides the interest rate, its market has a great influence on the financial liquidity of the whole economy. In addition, the high interest rate in the bond market of China compared with the other bond market has also attracted the foreign investors in the whole world to increase their investment to the market. Therefore, studying the bond market of China is very helpful in understanding the current situation of the bond market of China so as to find out its problems and solutions which are very important for the economy to grow in a healthy way. In this paper, the solutions of how to solve the problems about the risk, market efficiency and the sustainable development of the bond market of China will be analyzed based on its current situation including the structure and scale.