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Article
Publication date: 18 June 2021

Betty L. Louie and Martha Wang

To answer key questions about China’s forthcoming digital currency, the Digital Currency Electronic Payment (DCEP) or “digital yuan.”

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Abstract

Purpose

To answer key questions about China’s forthcoming digital currency, the Digital Currency Electronic Payment (DCEP) or “digital yuan.”

Design/methodology/approach

Discusses prospective legal standards and guidelines; expected features compared with traditional payment methods and other digital currencies; how DCEP works; status of pilot programs; use of DCEP for cross-border payments; transparency, data protection and cybersecurity issues; and key implications for foreign businesses and financial institutions in China.

Findings

When DCEP is officially launched in China, there is little doubt that the population can easily adapt to its use. The launch of DCEP can have significant ramifications on a global scale, as it could reduce China’s reliance on the SWIFT system for international banking and offers the first glimpse of the internationalization of the renminbi (RMB).

Practical implications

Foreign companies operating in China, hi-tech businesses, retailers, financial institutions, and mobile app developers need to track the development and acceptance of DCEP, monitor arising risks, assess how their financial products fit, and adjust business operations, reporting requirements and financial reserves related to the requirements and use of DCEP, expected growth in fintech surrounding digital currencies.

Originality/value

Practical advice from experienced mergers and acquisitions, private equity, strategic investment and capital markets lawyers.

Details

Journal of Investment Compliance, vol. 22 no. 2
Type: Research Article
ISSN: 1528-5812

Keywords

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Book part
Publication date: 22 August 2006

Porlákur Karlsson, Michael R. Luthy and Katrín Ólafsdóttir

“No man is an island, entire of itself” (Donne, 1624). When the British metaphysical poet John Donne (1572–1631) wrote that, concepts such as entrepreneurship, marketing…

Abstract

“No man is an island, entire of itself” (Donne, 1624). When the British metaphysical poet John Donne (1572–1631) wrote that, concepts such as entrepreneurship, marketing, tourism, and world trade were either not known or rudimentarily conceived. The scope and implications of these business forces for the health of countries would not be more fully realized for centuries to come. While Donne was not speaking directly to the issues of this research, it is significant, given the central focus of marketing on exchange, that what Donne wrote about in the context of human relations and the need of people to exist in interaction with one another has a connective interpretation to commerce. By extension, individual companies or organizations are not islands unto themselves as they face the make-or-buy and outsourcing decisions, industries are not islands as they must exchange for raw materials and labor, and countries are not metaphorical islands given the uneven distribution of raw materials around the planet. The relative geographic isolation of Iceland (2 hours by airplane from Great Britain), a small population base of approximately 300,000, and a location near the Arctic Circle underscores the need for trade and interaction with other countries as a means of creating and maintaining a vibrant economy.

Details

Developmental Entrepreneurship: Adversity, Risk, and Isolation
Type: Book
ISBN: 978-1-84950-452-2

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Abstract

Details

Multinational Companies in China
Type: Book
ISBN: 978-1-78714-547-4

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Book part
Publication date: 22 December 2016

Ruxiao Qu and Yanping Zeng

This chapter seeks to analyze trade in environmental goods between China and the EU and highlight prominent problems and future opportunities.

Abstract

Purpose

This chapter seeks to analyze trade in environmental goods between China and the EU and highlight prominent problems and future opportunities.

Methodology/approach

We explore trade empirically, based on the definition of environmental goods proposed by OECD and database from UN COMTRADE (HS96).

Findings

We find that value of trade in environmental goods between China and the EU has increased from $2.759 billion in 1996 to $42.446 billion in 2012, with an average annual growth rate of 21%. Trade is concentrated in Germany, the Netherlands, Italy, France, and Belgium (together accounting for 82%). China has a trade deficit in most categories of environmental goods. Overall, although trade in environmental goods between China and the EU has increased rapidly, the trade structure is unbalanced and the competitiveness of China’s environmental goods trade is still low.

Practical implications

This chapter provides a robust basis for analysis of trade in environmental goods between China and the EU.

Originality/value

Discussions on environmental goods trade are complicated by a lack of clear definition and lack of consistent data. This chapter provides a clear and consistent data set in order to have a robust basis for analysis of this important phenomenon.

Details

China and Europe’s Partnership for a More Sustainable World
Type: Book
ISBN: 978-1-78635-331-3

Keywords

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Article
Publication date: 11 October 2021

Waseem Khan, Trilok Pratap Singh and Mohammed Jamshed

The purpose of this paper is to analyze the characteristics of agribusiness firms in India, China and Pakistan, as well as the challenges they face in doing business.

Abstract

Purpose

The purpose of this paper is to analyze the characteristics of agribusiness firms in India, China and Pakistan, as well as the challenges they face in doing business.

Design/methodology/approach

This study is based on the World Bank’s Enterprises Survey (WBES) data. The survey was carried out through a questionnaire survey from the owner and top managers of 716, 247 and 174 agribusiness from India, Pakistan and China, respectively. This enterprises survey has comprised the information regarding the wide range of firms’ characteristics and 16 parameters of business obstacles. Simple statistical tools such as chi-square and analysis of variance have been used to analyze the data.

Findings

Chi-square test shows the statistically significance difference in firms’ characteristics across agribusiness firms of India, China and Pakistan. Chinese firms are better in terms of having an international quality certification, own websites and getting credit. In Pakistan, access to land for agribusiness is an obstacle while for India and China, it is easy to acquire land for agribusiness purposes. In Pakistan, tax rate and political stability is a moderate obstacle while in India and China, it is a minor obstacle in agribusiness. Labor regulation does not perceive any considerable obstacle in doing business in India and Pakistan.

Practical implications

This study provides an understanding of differences in the agribusiness environment in emerging economies such as India, Pakistan and China based on WBES data. This study can be helpful for agribusiness managers and government policymakers for promoting agriculture-based entrepreneurship.

Originality/value

It is the first attempt to compare the profile of agribusiness firms in growing Asian economies such as India, Pakistan and China, as well as perceived business hurdles, using a comprehensive enterprises survey data of World Bank.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6204

Keywords

Content available
Article
Publication date: 14 October 2021

Fan Gao

Poverty alleviation has been a major theme of China's modernization process since the founding of New China. This paper points out that China's poverty alleviation process…

Abstract

Purpose

Poverty alleviation has been a major theme of China's modernization process since the founding of New China. This paper points out that China's poverty alleviation process presents three stylized facts: “Miraculous” achievements of poverty alleviation have been made on a global scale; the poverty alleviation achievements mainly occurred in the high growth stage after reform and opening up; the poverty alleviation process is accompanied by the structural transformation of the urban–rural dual economy.

Design/methodology/approach

Therefore, a logically consistent analytical framework should form among the structural transformation of the dual economy, economic growth and the achievements in poverty alleviation. In logical deduction, the structural transformation of the dual economy affects rural poverty alleviation through the effects of labor reallocation, agricultural productivity improvement, demographic change and fiscal resource allocation.

Findings

The first two refer to economic growth, and the latter two are alleviation policies. The combination of economic growth and poverty alleviation policies is the main cause for poverty alleviation performance. China's empirical evidence can support the four effects by which the structural transformation of the dual economy affects poverty alleviation.

Originality/value

China's socialist system and its economic system transformation after reform and opening up provide an institutional basis for the effects to come into play. After 2020, China's poverty alleviation strategies will enter the “second-half” phase, namely, the phase of solving the problems of relative poverty in urban and rural areas by adopting conventional methods and establishing long-term mechanisms. This requires the facilitation of the reconnection between poverty alleviation strategies and the structural transformation of the dual economy in terms of development ideas and policy directions.

Details

China Political Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2516-1652

Keywords

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Article
Publication date: 14 October 2021

Asif Ali Safeer, Yun Chen, Muhammad Abrar, Nilesh Kumar and Amar Razzaq

The study aims to investigate the impact of perceived brand localness (PBL) and perceived brand globalness (PBG) on brand authenticity (BA) to predict consumers' attitudes…

Abstract

Purpose

The study aims to investigate the impact of perceived brand localness (PBL) and perceived brand globalness (PBG) on brand authenticity (BA) to predict consumers' attitudes toward local and global brands in two Asian markets. Further, the study examines the moderating role of uncertainty avoidance (UA) after controlling the effects of brand familiarity (BF) in Asian markets (China and Pakistan).

Design/methodology/approach

In accordance with the non-probability technique and through an online survey, the study collected 1,880 responses (on local and global brands) from China and Pakistan. Partial least square structural equation modeling (PLS-SEM) is the most robust technique applied to examine the proposed hypotheses in the Asian environment.

Findings

After controlling the effects of BF, the findings revealed that PBL and PBG positively influenced consumers' perceptions of BA, which had a significant impact on consumers' brand attitudes toward both local and global brands in Asian markets. Further, the research identified that BA was an essential mediator from the Asian perspective. The interaction effects of UA and PBL on BA were discovered positively significant in Pakistan, whereas the effects of UA and PBG on BA were found negatively significant in Pakistan and had no effects in China.

Research limitations/implications

The research focused on two Asian countries (China and Pakistan). However, future researchers may collect additional data from other Asian countries in order to generalize the findings in all Asian markets.

Practical implications

The research assists local and global managers in designing and implementing various targeting, positioning and segmentation strategies for successfully managing businesses in Asian markets.

Originality/value

The novel research is based on signaling theory that contributes to the local and global branding domains from the Asian perspective (China and Pakistan).

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Content available
Article
Publication date: 15 October 2021

Kaiyan Shen

It is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system…

Abstract

Purpose

It is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system of political economy with Chinese characteristics based on the fundamental principles of Marxist theory and the practice and historical process of Chinese economic reform, through theorizing and systemizing the practices of China's socialist market economy construction. The purpose of this paper is to give some suggestions to establish a socialist theoretical system with Chinese characteristics.

Design/methodology/approach

This paper makes a comprehensive analysis of the principles, objectives, study objects, methodologies as well as the framework of the theoretical system of the political economy with Chinese characteristics.

Findings

Additionally, starting from the unity of opposites between public ownership of resources and resource allocation in a market mechanism, which is the fundamental dialectical relation of China's socialist market economy, the authors will adopt the dual dialectical analysis approach to discover and understand the duality features of the socialist economic system with Chinese characteristics.

Originality/value

With adherence to the mission of China's socialist economic system, the goal of China's market economic reform, and the perspectives of Marxist political economy, the authors must explicitly define the so-called Chinese characteristics and then summarize the dynamics and innovations during the evolution of Chinese socialist political economy with high theory confidence and theory self-consciousness.

Details

China Political Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2516-1652

Keywords

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Article
Publication date: 8 October 2021

Fengqi Qian

The paper aims to contribute to the current research on China's Belt and Road Initiative (BRI) from a historical point of view. The paper investigates why the history of…

Abstract

Purpose

The paper aims to contribute to the current research on China's Belt and Road Initiative (BRI) from a historical point of view. The paper investigates why the history of the Silk Roads is important to the BRI, what is in the guiding thought underpinning China's Silk Roads narrative and how this narrative is presented transnationally, through an insightful analysis of the Communist Party of China's (CPC) view of the Silk Roads history, as well as its perception of the connections between the Silk Roads history and the BRI.

Design/methodology/approach

The paper sits in the interface between history, heritage and state power. The argument is framed in concepts of historical constructionism and soft power. It is based on the discourse analysis of China's official narrative of Silk Roads and a case study of the planning for the World Heritage nomination of the Maritime Silk Routes (MSR) (China section). The case study is conducted through a qualitative analysis of academic publications, media reports and programs, official speeches and documents that are available to the public in hardcopy or on the Internet.

Findings

The paper reveals the relationship between the state-endorsed Silk Roads narrative and the BRI. The paper argues that the state-backed Silk Roads narrative as well as the planning for the World Heritage nomination of the MSR (China section) is guided by the Chinese Communist Party's perception of the BRI. In this respect, the Silk Roads-associated history, heritage and memory are shaped and deployed to serve as a convenient platform for the promotion of the BRI. The Party leaders' perception of the BRI is in large part about the revival of China's past glory, its national rejuvenation and the demonstration of China's soft power.

Originality/value

The paper contributes to the existing literature on the BRI through its enquiries into how the CPC reconcile nationalist ambitions with notions of peace, harmony and cosmopolitanism and how CPC's view of the Silk Roads history shapes its vision of the BRI. The paper examines the role of the state in the construction and articulation of the Silk Roads-associated history, heritage and memory. It investigates how China's official interpretation of the Silk Road heritage serves China's BRI.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1266

Keywords

Content available
Article
Publication date: 12 October 2021

Weimin Ding and Xiaoyu Zhang

Under the circumstance that the development of developing countries is a major issue that has long been of concern to Marxist scholars, the research is focused on the…

Abstract

Purpose

Under the circumstance that the development of developing countries is a major issue that has long been of concern to Marxist scholars, the research is focused on the category of development benefit, which Xi Jinping has mentioned many times.

Design/methodology/approach

Based on the Marxist theory of international value, the authors of this paper indicate that development benefit is the result of developing countries' consistently increasing labor productivity, reducing squandering in labor and transforming more labor into real value, and thus the fundamental cause of unequal development in international economics turns from the field of circulation to the area of production.

Findings

Also, the authors summarize China's experience of obtaining the development benefit and China's development path featuring common development and criticized the comparative advantage of mainstream Western economics, revealed the path of dependency development represented by mainstream Western economics.

Originality/value

Finally, the authors analyze the essence of the economy and trade conflict between China and the US and the respective strategic goals of the two countries and provide an outlook on the contest between the two roads of development and the evolutionary trend of the relationship between developed and developing countries.

Details

China Political Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2516-1652

Keywords

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