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Business & Finance
CKGSB Knowledge - China Business and Economy

CKGSB Knowledge - China Business and Economy Summer 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.

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.
entering a new age

Two and a half centuries ago, a revolution broke out in Western Europe that changed the world more than any other event in modern human history—the Industrial Revolution, which burned coal to make steam and transformed farmers into urban workers. This revolution led to the collapse of some countries and the birth of others; it created wars but also raised standards of living far beyond what was ever thought possible. Today a new revolution, the Fourth Industrial Revolution of AI, connectivity and distributed manufacturing—and this time a resurgent China is near the head of the pack. In this issue, we look at the implications of this for the world in the Comment section (page 6). Our lead story, “India: The New Battlefield” (page 8), focuses on another emerging power touted as the…

5 min.
china and the fourth industrial revolution (4ir)

The fourth industrial revolution (4IR) is “a fusion of technologies” that blurs the lines “between the physical, digital, and biological spheres,” according to Klaus Schwab, founder of the Davos Forum. This fusion of so many fields will ultimately see 4IR change the world far more fundamentally than the first three industrial revolutions. Any analysis of the many technological breakthroughs that now define this new 4IR business world, such as the internet of things (IOT), robotics, artificial intelligence and biotech, is incomplete at best if it misses the China factor. The country now accounts for nearly 20% of the world economy in terms of purchasing power parity (PPP), although this is still 10 percentage points below its share of total world output two centuries or so ago when the first industrial revolution…

12 min.
india: the new battlefield

For many years China has taken the spotlight as the biggest and most important emerging market in Asia. But now its next-door neighbor, India, is starting to steal that attention as opportunities for foreign companies grow Anju, a clerk aged in her late 50s, works in a trading company in Delhi, India. She swears she will never use any mobile phone other than an Apple and she definitely refuses to buy Chinese goods, even toys for her grandsons. “All Chinese products break so quickly,” she says dismissively. Anju’s son Rishi, a product photographer in his late 20s, uses an iPhone, but is now considering a Chinese Xiaomi phone. He describes his mother’s views as outdated, held by “India’s older people only.” Statistics bear him out—Indians are readily embracing Chinese-branded Androids. Over half…

12 min.
offshoring goes full circle

For decades, China was the top destination for foreign companies moving their operations abroad. But now it is Chinese companies that are shipping out of their home market in search of new business horizons Lebanon, a small town with a biblical name located in the middle of Tennessee, recently celebrated the arrival of opportunity with a ribbon-cutting ceremony. The occasion was the opening in April of American Wonder Porcelain, a 46,000-square-meter ceramic tile plant. The $150 million facility is expected to eventually provide more than 200 jobs for the community. The investor, Wonderful Group, is a ceramics manufacturer based in the southern Chinese industrial hub of Guangdong Province. It is one of many Chinese firms now moving manufacturing to the United States to offset rising labor costs in China, and to expand…

12 min.
the wechat economy

Since its release in 2011, WeChat has expanded from being a mere messaging app to an all-purpose digital tool capable of everything from social sharing to investment, attracting hundreds of millions of users in the process. But parent company Tencent won’t stop there For Zhu Yile, WeChat is more than a handy accessory. The app has become a way of life. A Shanghai-based media sales manager and digital native, Zhu uses WeChat to chat with friends, share photos and videos, read news, pay bills, play games, shop and communicate with clients, colleagues and friends. Whether at home, work or on the move, she always has WeChat open on her smartphone. WeChat, owned by one of China’s largest internet companies, Tencent, has also dramatically reduced her use of voice calls and e-mail. “The…

14 min.
china and the intelligent future

The United States is the undisputed leader in developing artificial intelligence technologies, but China is a very important second. While not on the cutting edge of research, Chinese companies are implementing AI in ways that will change the world Anyone who has ever tried to transfer large sums of money from one account to another in China knows how frustrating the experience can be. The standard procedure is to go to the bank in person, queue up, present your ID card, fill out lots of paperwork and then, depending on the length of the queue, wait an hour or more for it to be processed. Not anymore, thanks to AI (artificial intelligence). China Merchants Bank, a major bank in China, recently released a new version of their mobile app that allows customers…