China Dream

China’s economic development in the last 40-years has progressed hand in hand with a high degree of corruption. This has led some to suggest that corruption may be a good thing. Perhaps it has a lubricating effect? Xiangyu Shi of the Yale University attempts to see if there’s a relationship between innovation, the lifeblood of […]

[This is the first time I’ve seen the phrase ‘G3’ used to sum the economic world. It refers to the U.S., China and an aggregated (big country) Europe and is a descriptor whose utility will no doubt cause it to stick.] In the paper highlighted today Luis Bauluz (et al.) from the University of Bonn […]

[I’m fond of saying that to understand China properly you have to imagine it, in many regards, about 50-years behind the developed West. After reading this study I think, with regards to financial markets, that glib summary may be too kind.] Grace Xing Hao of the PBC School of Finance at Tsinghua University and Jiang […]

Professors Thomas M. Hout and Robert A. Rogowsky of the Middlesbury Institute of International Studies seem to be addressing U.S. policymakers in their Working-Paper highlighted today. It’s a good companion piece for work highlighted last week on the subject of whether or not China’s accession to the WTO has been a policy mistake by the […]

A timely piece in the context of the discussion in the U.S. about rolling back the previous administration’s China tariffs. Jennifer Hillman, a senior fellow for trade and international political economy at the Council on Foreign Relations (CFR) and a professor at the Georgetown University Law Center, provides useful context on where China-U.S. trade relations […]

Unusually I’m not going to recommend a full read of the paper highlighted today from Anum Qureshi (et al.) of the National University of Science and Technology (NUST), Pakistan. Partly because its a bit of a jumble and partly because the output from this kind of analysis, given how little data there is to plug […]

In an IMF Working Paper from February this year staffers Diego A. Cerdeiro and Ciane Ruane took a closer look at China’s flagging business dynamism. That this has occurred is in no doubt as the chart of Total Factor Productivity (TFP) from their study period, 2003~2018, shows. Here’s a summary of their detailed findings: The […]

I have a simple rule for IPOs, Hong Kong ones at least; leave well alone. Their popularity is, in part, based on data and historical experience from more ‘grown-up’ markets in which they’ve been shown to be subject to habitual under-pricing (they’re rarely, if ever, under-priced in HK for reasons I won’t go into here). […]

If you know nothing about China’s Central Bank Digital Currency (CBDC) initiatives the paper highlighted today may help you get up to speed. Heng Wang, of the University of New South Wales – Faculty of Law has drawn together an impressive check-list of work to-date, scholarly articles, broker research and etcetera which covers many of […]

The paper highlighted today, from Hilton L. Root of the George Mason University is not an easy read, which makes it especially hard to summarize; but I’ll try… In short, it goes back to the earliest formation of Chinese and Western societies and suggests the Christian Church in the West and the Confucian top-down family-oriented […]

In a Working Paper from the IMF researchers Serkan Arslanalp, Barry J. Eichengreen and Chima Simpson-Bell take a look at the U.S.-Dollar (U$) this century in terms of its use as a reserve currency. Lets start with one of the few things that’s crystal clear: The share of U$ being held by the world’s central […]

I think the researchers (Chen Xi from the Tsinghua University School of Economics and Management, et al.) may be taking themselves a little too seriously with this paper that draws a line between climate change and future movie attendance in China (and by implication elsewhere). There’s a useful point though in terms of how weather […]

I’ve flagged work before that highlights some of the dis-benefits for towns connected to China’s High Speed Rail (HSR) network and the paper today is in a similar vein. Yao Ge (et. al.) from the School of Management of the Xiamen University has taken a look at how an HSR connection affects firms near and […]

Gary Dushnitsky and Lei Yu from the London Business School and the Sun Yat-sen University in Shenzhen had to crunch five separate databases together in order to extract an answer to the question ‘What drives corporate venture capital (CVC) decisions in China?’ This has never been done before and the resulting answer will be a […]

Investors in Chinese growth stocks have been keelhauled over the last 18-months, especially in those U.S. listed China shares they were persuaded were facsimiles of companies they were already familiar with (does this sound familiar? It’s the so-and-so of China, and etcetera). Let’s not dwell on that foolishness. On then to the next foolishness. Or […]

The paper highlighted today is a neat companion to last week’s on the subject of how high status women on company boards in China led to better corporate governance (CG) and less corporate shenanigans. This weeks offering, from Qurat Ul Ain of the Xi’an Jiaotong University (et al.), takes a look at another key indicator […]

Analysis of the effectiveness of women on company boards remains a tangled mess. Some studies show they make no difference to financial outcomes whilst others point out the problems of ‘tokenism’ rendering analysis a flawed proposition from the get go. Researchers of the paper highlighted today wanted to narrow the focus of inquiry to the […]

The paper highlighted today from Emmie Hine of the University of Oxford – Oxford Internet Institute and Luciano Floridi of the University of Oxford – Oxford Internet Institute; University of Bologna- Department of Legal Studies, attempts a dissection of policy papers from both China and the U.S. on AI to isolate differences in emphasis and […]