Business and Public Administration Studies (E-Journal, Washington Institute of China Studies - WICS)
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China\u27s Banking System
No full textThis paper examines the Banking System of China and explores in detail the policy reforms and restructuring of its banks to create a market based economy. We evaluate the history of the China Banking system, the restructuring and financial liberalization that has occurred over the last 11 years. The inception of the reform policies startedin 1995 with the first set of laws introducing commercial banks and new governance of the Peoples Bank of China (PBC). We examine the impact and implications of the numerous policy reforms and milestones that are shaping the financial and monetary sectors in China today.This paper further examines the implications of the WTO agreements and Basel accords on the Chinese Banking System. The WTO agreements signed by China in 2001 will open up the China banking system to foreign investors and allow them to operate in the retail markets in domestic currency without any business or geographical limitations. The impact of this agreement is significant as it will broaden the reach of all banking services— even to Chinese households and allow foreign affiliates to enter with fewer restrictions. Even though these agreements are effective this year, the expected systemic benefits are several years away; however this is a critical milestone that will help achieve solvency, promote competition and hopefully create sustainability.We conclude the paper with the future actions needed to further strengthen the Chinese Banking System that include more aggressive actions as well as faster execution of banking reform policies that will accelerate China’s financial success
China and Africa: Opportunities, Challenges and Forging a Way Forward
Get PDFOver the past decade, China has actively sought to strengthen its economic and diplomatic relationships throughout the African continent and, in the process, has drawn much praise and incited equal criticism. China’s recent expansion into Africa marks one of the most significant developments in Africa, drawing international attention not only because of its extent but also because of its exponential growth in the areas of trade, investment, diplomatic ties and aid. China became Africa’s third largest trading partner in 2004, with trade volumes rapidly increasing each year. Total trade between Africa and China reached 100 billion by 2010. China’s direct investment in Africa has shown similar levels of growth, increasing from 370 million in 2006, according to official statistics.
Leadership Theories: What Corporate Leaders in China Can Learn
Get PDFCorporate leaders in the 21st century should have the capacity and capability to comprehend, embrace, and adapt to changes in order to survive and thrive. Throughout history, leaders are generally accustomed to changes and there is no doubt that those who are more capable of dealing with ups and downs have a better chance of getting through disastrous upheavals. In this new information age, changes in the market place and in the extensively diverse workforce appear to happen even much faster over a short period of time. In this sense, the ability to react and adapt to change is one of the key characteristics of a 21stcentury leader.
Culture and Sustainable Development in China
Get PDFTalk at World Bank’s Conference on Culture and Sustainable Development in China, October 16, 2007Thank you for inviting me to participate in the discussion of how to achieve sustainable development in China in the age of globalization and the knowledge economy. This subject demands our full attention and is of the utmost urgency for reasons known to all of us at this conference
Sino-Africa Trade Relations
Get PDFThis paper briefly covers the economic relations between China and Africa as China’s amazing economic growth dramatically increases its dependence on fuel and raw materials - readily (and cheaply) available in developing countries, such as those in the African continent
China’s Textile Industry International Competitive Advantage and Policy Suggestion
Get PDFThe textile industry has long been a pillar 0f China’s economy thanks to its advantage in factor endowment and market scale. The trade volume of the textile sector has increased by 27.11 times during the past 25 years (from the Reform and Opening). In 2005, textile exports took up 15.4% of China’s total exports and 24.4% of the world’s total exports in textiles. The production and exports of Chinese textile products are the largest in the world.Nonetheless, China’s textile industry is facing various difficulties, such as excessive resource reliance, low technology and value added, indisposition in trade structure and highly concentrated export markets. More and more trade sanctions against China’s textile products are particularly noteworthy as they cast tight restrictions on China’s competitive advantage in this industry. This paper aims at an in-depth investigation of competitive advantage of China’s textile industry and brings corresponding suggestions.
Intellectual Property Rights Protection in China
Get PDFAccording to the office of the United States Trade Representative (USTR),theft of intellectual property is a major problem in China. Copyright piracy alone is estimated at between 3.8 billion a year and infringement levels in virtually all categories of intellectual property (IP) were 90 percent or higher in 2004.Intellectual property usually includes patents, copyright and trademarks. According to the Oxford Desk Dictionary and Thesaurus, patent is defined as an official document conferring a right or title, especially the sole right to make, use, or sell some invention. Patents are provided for a specified period, after which the use of and rights over the product or technology become part of the public domain. Patent protection is considered critical for generating returns to basic invention in pharmaceuticals, agricultural and industrial, chemicals and biotechnology.
World Bank and China in Recent Developments with Special Reference to Renewable Energy
Get PDFOne of the features of the World Bank’s assistance in China’s current development is to alleviate the tension on the imbalance between its economic and social development, and between its scarce natural resourcesand the environment. The Bank supports the Government\u27s strategy for scaling up its renewable energy for power generation based on developing a supporting legal and regulatory framework, increasing access to advanced technology and techniques to permit the exploitation of renewable energy resources. To say that we live in an increasingly interdependent, global world is a truism. The meaning of truism, however, is just that it is true. What China does affects a significant portion of the entire world.
The Development of the Chinese Transportation Infrastructure: A Case of Highway Development
Get PDFEconomists have long envisaged that China would be a major economic power in the 21st century. China along with India accounts for 18 percent of the global economy (on purchasing power parity basis) and 40 percent of the global working age population. During the past decade, China’s economy grew on average at ten percent per annum, and China’s share of world trade increased from one percent in early 1990s to six percent in 2004. China’s industrial production also increased at an annual rate of 17 percent in 2004. Going forward, the continued economic growth of China will continue to impact other countries as well as provide impacts within China. Long term impacts of this growth will likely result in spillover effects in countries surrounding China as well as other countries in the Pacific Rim.