Opportunities in the Largest and Fastest Information Consumption Boom
Author: Winston Ma
Publisher: John Wiley & Sons
Category: Business & Economics
"The book will focus on three major areas of the digital economy in China that are, by nature, inter-linked: (a) The boom of e-commerce on consumer goods. Alibaba's online shopping platforms Taobao and Tmall have nearly twice as many active buyers than the U.S. site eBay. It has already disrupted new shopping malls in China, but itself is also being disrupted by the mobile culture and social network. The mobile disruption in China is more thorough than the developed world: immature industries such as retail and logistics will leapfrog straight from the early industrial age to the internet one. (b) The beginning of the multi-screen age and mobile Internet for China consumers. The mobile consumption is growing so rapidly that the shopping malls, a new development in China by itself, have already been disrupted by online-to-offline (O2O) retail consumption. What's more, the growth and positive spillovers go beyond consumer goods sector to services, entertainment, media, finance and even traditional industry sectors. (c) Mobile internet is more about lifestyle and entertainment for China's online community (which tends to be younger than that in the US). The Chinese youth are pouring money into online games, video and music downloading, and virtual goods/ online personas in imaginary worlds. To meet the quest for high quality contents, the tech giants are not only betting on set-top box to convert TV and theatre viewers to online but also creating their own contents; meanwhile, the China market is changing the DNA of Hollywood's blockbuster movies"--
In the last two decades of the 20th century, China stood out as the world''s star performer in economic growth, thanks to the market-oriented reform that started in 1978. At the turn of the century, the Chinese economy faces a series of challenges to sustain its growth and stability. The two-decade-long rapid growth has effectively strengthened China''s economic power and raised its people''s standard of living. It has also transformed China from a centrally planned command economy into a OC socialist market economyOCO, which operates increasingly in line with capitalist norms. Major structural problems, however, remain and are growing acute. Weakness in the fiscal system breeds rent seeking at the local level and causes tension in the state budget. The flawed financial institutions and the biased ownership structure continue to distort resource allocation and cause huge efficiency losses. Inter-provincial and inter-regional disparity is reaching a level that threatens national unity and social stability. As China joins the World Trade Organization and becomes more integrated into the world economy, it urgently needs to improve the domestic business environment and to beef up indigenous industries for foreign competition.This volume is a collection of papers written by scholars at the East Asian Institute to address those problems during the period 1999OCo2001. The authors, with their knowledge and experience in China studies, provide in-depth observations and professional analyses of some of the most important issues for the Chinese economy at the turn of the century. Some of the observations and analyses lead to enlightening policy recommendations. The solid scholarship combined with the policy orientation of these papers will appeal greatly to researchers in academia, governments and other institutions. The policy-oriented and fact-based analyses will also be of interest to practitioners in business, including business consultants."
China's economic performance over recent years has been impressive, managing to weather the Asian crisis of the late 1990s largely unscathed, as well as sustaining growth in the face of the recent global downturn. However, there are structural weaknesses in its economy which, if unmet, could undermine its economic stability and growth. This book examines these challenges and China's efforts to address them, in order to ensure China can compete successfully in the global economy and sustain its economic performance whilst spreading the benefits more widely across society. Topics covered include: provincial growth dynamics, foreign direct investment, medium-term fiscal issues; state enterprise reforms, the impact of WTO accession, and exchange rate policy.
This book discusses China's integration into the world economy, drawing on papers previously written by the editor. It focuses on strong trade growth, FDI inflows, innovation policy (including transfer of technology and intellectual property), the role of saving, and the accumulation of human capital. It also analyzes the quantitative significance of openness in driving China's growth. While other books on China do not focus much on China's integration into the world economy, this book provides technically strong analyses of key contributing factors to China's growth performance. It also highlights innovation and education policy and their significance for the 11th five-year plan which aims to quadruple real income per capita between 2000 and 2020.
Culture, Communism and the Modern Chinese Consumer
Author: Tom Doctoroff
Category: Business & Economics
Today, most Americans take for granted that China will be the next global superpower. But despite the nation's growing influence, the average Chinese person is still a mystery - or, at best, a baffling set of seeming contradictions - to Westerners who expect the rising Chinese consumer to resemble themselves. Here, Tom Doctoroff, the guiding force of advertising giant J. Walter Thompson's (JWT) China operations, marshals his 20 years of experience navigating this fascinating intersection of commerce and culture to explain the mysteries of China. He explores the many cultural, political, and economic forces shaping the twenty-first-century Chinese and their implications for businesspeople, marketers, and entrepreneurs - or anyone else who wants to know what makes the Chinese tick. Dismantling common misconceptions, Doctoroff provides the context Westerners need to understand the distinctive worldview that drives Chinese businesses and consumers, including: - why family and social stability take precedence over individual self-expression and the consequences for education, innovation, and growth; - their fundamentally different understanding of morality, and why Chinese tolerate human rights abuses, rampant piracy, and endemic government corruption; and - the long and storied past that still drives decision making at corporate, local, and national levels. Change is coming fast and furious in China, challenging not only how the Western world sees the Chinese but how they see themselves. From the new generation's embrace of Christmas to the middle-class fixation with luxury brands; from the exploding senior demographic to what the Internet means for the government's hold on power, Doctoroff pulls back the curtain to reveal a complex and nuanced picture of a facinating people whose lives are becoming ever more entwined with our own.
New China Rising goes beyond the reasons for China joining the World Trade Organization (WTO), which will mark its coming of age as a global economic and political powerhouse. Being subjected to a new international framework and competition, the social economic structures of China are changing rapidly. Various domestic industries and companies are also undergoing massive restructuring in response to the potential challenges posed by gradual industry deregulation and forces of globalization.