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Victor Shih by Fantake via Flickr
Labels: banks, China, China Speakers Bureau, Victor Shih
posted by China Herald at
12:52 AM
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Wendell Minnick by Fantake via Flickr |
| Victor Shih (no. 10) |
Labels: Arthur Kroeber, China, China Speakers Bureau, Kaiser Kuo, Shaun Rein, Victor Shih, Wendell Minnick
posted by China Herald at
1:58 AM
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Victor Shih by Fantake via Flickr
Labels: China, China Speakers Bureau, debts, Victor Shih
posted by China Herald at
1:43 AM
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State-driven by Getty Images via @daylife
.The biggest misperception about China is that it’s a dynamic market economy – it isn’t. It’s a fast-growing, state-dominated economy with some dynamic, private-market aspects. If you look at investment, a main driver of growth, much of it is going to state-owned enterprises (SOEs) or shareholding companies dominated by state entities. Or it’s going directly to government investments carried out at a central or local level. The misperception has abated recently following Richard McGregor’s book on the Chinese Communist Party. People are realising that the party is still behind much of what happens in China.And on Huang's book:
More in Tne Browser.I think Yasheng goes a little too far with some of his claims. But the broad outline is correct. There was a period of healthy organic growth in the 80s, driven by the de facto private sector. Many township and village enterprises were collectives or owned by the local government. But in reality they were private enterprises. This changed in the mid-90s, especially with the adoption of the ‘grasping the large and letting the small go’ policy that circumvented the special interests in the state sector. When Deng Xiaoping was alive, his executive vice premier, Zhu Rongji, wanted to bankrupt or merge many of the smaller state-owned enterprises into larger ones. It was a political tactic to further reform. And it worked.
Labels: China, China Speakers Bureau, Deng Xiaoping, economy, Victor Shih, Zhu Rongji
posted by China Herald at
2:22 AM
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Xi Jinping via Wikipedia“Xi Jinping was a compromise candidate, a princeling who could be sure to defend the regime's interests,” said Victor Shih, a professor of Chinese politics at Northwestern University. “He hasn't announced much of his own agenda yet. We haven't seen, in terms of policies, what he's going to propose."Many more interesting background in the thorough piece by Mark Mackinnon.
Victor Shih by Fantake via Flickr
Labels: China, China Speakers Bureau, Victor Shih, Xi Jinping
posted by China Herald at
2:36 AM
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Shaun Rein by Fantake via Flickr
Labels: China, China Speakers Bureau, Paul French, Public Speaking, Rupert Hoogewerf, Shaun Rein, Tom Doctoroff, Victor Shih, Wendell Minnick
posted by China Herald at
7:09 AM
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Victor Shih Fantake via FlickrFiguring out what projects the LICs have financed and how healthy they are is hard. Shih says LICs in the western city of Yinchuan, the capital of Ningxia autonomous region, have helped bankroll a building spree. New luxury villas and high-rise residential complexes, as well as a huge new soccer stadium, adorn the city. A science and technology center, a museum, and a library each occupy several football fields' worth of turf, while an almost-finished skyscraper resembles New York's Empire State Building. It's pretty ambitious for a region that depends on cash transfers from Beijing for 70 percent of its total revenues. Shih estimates Ningxia's debt at $15 billion—75 percent of the region's economy. "A soccer stadium in the middle of nowhere is not going to generate much cash flow," he says. "Without massive central government subsidies, I think many of these projects will not generate enough cash even to pay interest on their loans."More in Business Week.
Labels: banks, China, China Speakers Bureau, Victor Shih
posted by China Herald at
12:25 AM
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