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CKGSB Knowledge - China Business and EconomyCKGSB Knowledge - China Business and Economy

CKGSB Knowledge - China Business and Economy Fall 2018

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
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4 Issues

IN THIS ISSUE

access_time3 min.
a fork in the road

“The old world is dying; the new world struggles to be born,” Antonio Gramsci wrote. The Italian philosopher was discussing Europe during the early 20th century, but the phrase appears just as apt when considering East Asia nearly a hundred years later. This is a time of huge uncertainty for the entire world, but even more so for China. How to deal with the turbulence roiling the global trading system is only one of several epoch-defining decisions facing Beijing. Even greater issues are how the country manages its transition from a peripheral country to a world power, and from a low-end manufacturer to a technological leader. In this issue, we will dive into the fray and analyze how China is handling these struggles up close. A sign of how quickly the economy…

access_time6 min.
the other side of ai

The negative effects that industrial revolutions unleash on human society always stem from an overestimation and abuse of the power of new technologies. It has never been more important to heed this point than today. Big data and artificial intelligence (AI) are bringing forth a new industrial revolution, and the blind worship of these innovations is already on full display in some quarters. In early September, Russian President Vladimir Putin said that the development of artificial intelligence technology has created “huge and unpredictable new opportunities and threats.” “Whoever leads this field will rule the world,” Putin declared. In the Russian leader’s eyes, AI is not only a major strategic opportunity, but the key to his country’s survival. China is also keen to lead the way in AI. On July 8, the State…

access_time11 min.
dancing to a new beat

What a difference a year makes. Last summer, there was a sense of unstoppable momentum behind the Belt and Road Initiative (BRI), China’s trillion-dollar plan to build a network of infrastructure connecting Africa, Asia and Europe. When China hosted its 2017 Belt and Road Forum, 29 heads of state and delegations from another 100 countries traveled to Beijing, hoping to cash in on what President Xi Jinping described as the “project of the century.” This year the landscape, at least from the media’s perspective, looks dramatically different, as even China’s closest partners make more cautious noises about the BRI. Some have even suggested that the initiative is not a road to riches, but a “debt trap” set by China to gain influence and seize strategic assets from smaller nations. In May, China skeptic…

access_time9 min.
tightening up the belt and road

Tom Miller is well-versed in the problems facing the Belt and Road Initiative (BRI). He predicted many of them. In his 2017 book China’s Asian Dream, he warned that China’s preference for cultivating close relationships with individual leaders could be a long-term risk for BRI. Eighteen months on, this looks prescient. New governments have won power in Malaysia, Pakistan and the Maldives, and renegotiating deals signed by their predecessors are high on the agendas. These setbacks have led to an avalanche of negative press concerning BRI, with many criticizing China’s lending practices and declaring the BRI is doomed to fail. Miller explains it is far too early to make that call. Q. The media narrative on BRI has changed recently. What is the status of the initiative? A. If you see Belt and…

access_time9 min.
betting all the chips

For China’s technology sector, the decision of the United States to hit Shenzhen-based telecommunications giant ZTE with a trade ban in April was an abrupt and painful wake-up call. Until then, many in China had grown accustomed to thinking of their country as a global leader in technology. After all, China’s smartphones, high-speed railways and e-commerce platforms were the envy of the world. But in the days following the ban, designed to punish ZTE for violating US sanctions on Iran and North Korea, it became clear that one of China’s most successful companies was totally dependent on American suppliers. ZTE’s business was crippled and it announced it would have to shut down. The firm, and the jobs of its 75,000 employees, was saved only by the Trump administration’s reversal of the ban…

access_time9 min.
when the taps run dry

The moment finally came just after Lunar New Year, 2016. That morning, residents in Lintao, a city of 200,000 in the remote northwest, turned on the taps, but no water flowed. The groundwater that provided the town’s supply had simply run out. A year later, Si County, a cluster of settlements 2,000 kilometers to the southeast, also ran dry. After municipal wells began to empty, local schools and hospitals resorted to drilling their own. But even private wells are often ineffective as the county’s daily water shortage has surpassed 20 million liters. Hundreds of cities across China now face similar crises as the country’s rapid development takes a terrible toll on water supplies. Urbanization and industrialization on a massive scale have led to an enormous rise in water use. “In 1990, there were…

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