EXPLOREMY LIBRARY
Business & Finance
CKGSB Knowledge - China Business and Economy

CKGSB Knowledge - China Business and Economy

Spring 2020

CKGSB Knowledge is an English language business publication focused on China. It features original articles on business and economy in China, the evolution of “Made in China”, policy issues, the rise of Chinese companies, the emergence of Chinese multinationals, and foreign multinationals’ strategy and operations in China. It also features interviews with influential thought leaders and CEOs, both Chinese and global, on trending topics. CKGSB Knowledge provides a unique vantage point from which to discover the latest general and China-specific business trends. It also provides a matrix to understand how emerging markets are transforming the global business landscape.

Country:
United States
Language:
English
Publisher:
Cheung Kong Graduate School of Business
Frequency:
Quarterly
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4 Issues

in this issue

3 min.
towards a re-globalized world

Over the past few months the world has been rocked by COVID-19 and its economic fallout, with the full impact of the crisis possibly yet to be felt. This issue of CKGSB Knowledge addresses several economic and business trends that have only been exacerbated by the virus crisis as we look towards the future and what it may bring. In considering the immediate effects of COVID-19, “A Financial Crisis and an Economic Recession” (page 55) by CKGSB Professor Xu Chenggang, addresses the overarching economic trends that have surfaced as a result of the virus. One is an unexpected boom in the online education market, with “Virtual Education” (page 31), exploring how COVID-19 forced teachers and students to move all education online. As usual, we look at key developments in the Chinese economy.…

5 min.
one world despite it all

Whatever problems globalization is facing, we are still one world—now more than ever, as the pandemic reminds us. The public health and economic impact of the coronavirus has been a perfect example of the high level of interconnectedness of the world today and the crucial need for cooperation and joint action by all countries and territories around the world to address it. It is just one of a range of problems and issues which both point out the inevitability of interdependence, and also reveal a widespread crisis of trust in leadership. These issues include climate change, energy, food security, disease and new technologies, with the fake news and security issues that they create. “Business people, including those in the US, are vital in helping to “re-globalize” the world” Globalization, characterized by the…

11 min.
when east meets west

Haier bought America’s GE Appliances in 2016 to build a stronger presence in the US household appliance market. Haier, based in Qingdao, China, is the world’s leading appliance manufacturer, but at the time the company only held 1.1% of the US market. As a traditional American company, GE Appliances, headquartered in Louisville, Kentucky, was able to help with that. Kevin Nolan is CEO of GE Appliances with overall responsibility for setting the short-and long-term strategies, as well as overseeing product innovation, product line performances and technology to maximise financial and business results. In his 28-year GE career, Nolan has progressed through various cross-functional operating roles in a variety of GE businesses. In this interview, Nolan looks at the future of household appliances, the importance of brand image in global markets and valuable…

9 min.
a whole new class

China’s war on poverty has been a success with 850 million people lifted out of poverty, resulting in a whole new class of lower-middle income consumers. Above the poverty line but not yet among the ranks of the prosperous middle class, this segment presents a huge opportunity for foreign brands and businesses. 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? Progress and inequality China’s economy, growing at an average rate of around 10% a year since the late 1970s until recently, has propelled it into position as the world’s second-biggest economy and brought poverty levels down from more than 80% in 1981 to just 1.7% by the end of 2018.…

9 min.
what happened to the sharing economy?

In China’s sharing economy, it is no longer possible to just share and share alike. The concepts encompassed by the phrase “sharing economy” inspired a huge injection of investment funds into a wide variety of products and business models, but the glow was already off the idea well before China’s economic slowdown or the coronavirus hit. Startups have run out of cash and steam, and many unicorns, those worth $1 billion or more, have turned out to be paper tigers. According to the World Economic Forum, the sharing economy is an economic model that focuses on peer-to-peer (P2P) sharing, the provision or acquisition of goods and services often facilitated by a community-based online platform. The list of ailing “sharing economy” firms in China includes former high flyers such as bike-sharing startups…

10 min.
a science great leap forward

Quantum physics may be science on an impossibly small scale but it is one field where China is staking a massive leadership role. In February, researchers in Hefei forged a quantum connection between clusters of atoms 50km apart through an optical fiber, meaning that any changes in one group’s quantum state instantly affected the other. This 50km “entanglement”—the longest distance achieved anywhere—could eventually lead to a quantum internet that would be near-instantaneous and impervious to eavesdropping. Quantum communications is just one area where Chinese scientists are taking a leading role—others include artificial intelligence (AI), biotechnology and materials genome engineering. Together they are allowing China to “reassert” its position as a scientific powerhouse, centuries after the Middle Kingdom wowed the world with the “four great inventions” of the compass, paper, printing and…