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CKGSB Knowledge - China Business and Economy

CKGSB Knowledge - China Business and Economy Winter 2017

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.

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País:
United States
Idioma:
English
Editor:
Cheung Kong Graduate School of Business
Periodicitat:
Quarterly
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4 Números

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3 min.
tech trends and policy pivots

Firstly, a happy and prosperous New Year to all our readers. The next 12 months promise to bring significant change to both the Chinese and global economies as powerful new technologies and policy trends disrupt decades-old norms. Our first issue of 2018 shines a light on many of these changes, and attempts to identify where they are leading us. We begin with an unseen revolution taking place in the world of finance, where artificial intelligence threatens to make the business models of the industry’s biggest players obsolete. CKGSB Professor Li Haitao analyzes the implications of this in “AI and Finance: Have We Reached the Tipping Point?” (page 6). Our cover story focuses on another tech-driven challenge to China’s big banks, which is coming from a new generation of innovative Chinese financial technology—fintech—companies,…

6 min.
ai and finance: have we reached the tipping point?

In the eyes of financial technology industry insiders, if you are not talking about “AI + Finance,” then you are behind the times. Even worse, you risk being left behind, just as stubborn holdouts in another era were stranded when they failed to accept the internet. AI (artificial intelligence) is not a new thing: it was first proposed as a field of research at a workshop at Dartmouth College in the United States in 1956. But the continuous evolution of algorithms, the maturation of hardware and the growing terabytes, petabytes and exabytes of data give AI hugely greater power today, especially as it relates to finance. Traditionally, finance has two core functions: to lower transaction costs and to improve asset pricing. The widespread use of the internet has undermined the first by…

12 min.
home sweet home?

Economic changes and government policies are driving millions of China’s migrant workers away from the wealthy coastal regions. What impact will the exodus have? In late November, shocking images from the outskirts of Beijing spread like wildfire across China’s social media, showing streets strewn with rubble, shivering people hunched over in the freezing cold, piles of hastily-packed bags lying among the detritus. The chaos was caused by a “cleanup” campaign launched by the Beijing government following a fire the previous week in a workers’ dormitory, which killed at least 19 people. Officials said the mass evictions were necessary to root out unsafe and illegal housing. Whatever the intentions of the campaign, the incident served as a stark reminder of the increasingly uncertain future facing China’s 280 million migrant workers in a rapidly-changing world. For…

12 min.
cleaning up

China’s massive anti-pollution campaign is driving thousands of factories out of business. But it’s also creating big new opportunities for green technology companies Each spring, usually around mid-May, large parts of China’s third largest freshwater lake turn bright green. By the time the sweltering east China summer gets underway, thick, smelly clumps of algae are forming all over the surface of Lake Tai, the result of years of wanton pollution by the farms and factories lining its banks. For the government of Wuxi, a city bordering Lake Tai, the arrival of the giant algal bloom every year is a nightmare. It impacts the revenues of local tourism sites and can even threaten the drinking water supply for millions of residents. But for Liu Bo, General Manager of Jiangsu Jinshan Environmental Protection Group,…

9 min.
the real cost of pollution

We all know that air pollution is bad for our health. But what is often overlooked is that high pollution levels also cause significant harm to our economy. Brian Viard, Associate Professor of Strategy and Economics at CKGSB, has been researching the economic effects of pollution for much of the past few years. His team has found persuasive evidence that the costs of air pollution are greater and more wide-ranging than most people realize. In this interview with CKGSB Knowledge, he explains how tackling the pollution crisis could actually make the Chinese economy more productive. Q: What inspired you to begin researching the effect of pollution on the economy? A: I have to give the credit to my co-author, Fu Shihe, who brought the idea up and we started talking about how to approach…

13 min.
from rust to gold

China’s once-mighty industrial heartland in the Northeast has fallen on hard times in recent years. Could the key to its revival lie in the American Rust Belt experience? When Li Junwen left her hometown of Dalian in China’s Northeast and flew to Detroit to begin her master’s degree at Michigan State University in 2016, she felt oddly at home. The vacant lots and abandoned factories her taxi cruised past in the center of Detroit reminded her of rundown districts in northeastern China. “You can tell both are not as prosperous as they were before,” says Li. “They’re really similar.” Though separated by more than 10,000 kilometers, Li’s home region does share much in common with the Rust Belt states of the United States. Like Michigan, Indiana and Pennsylvania, the Chinese provinces of Liaoning,…