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Describes the efforts made since 1979 by China to reform its financial system to support its emerging market economy; and the associated problems. Cites research evidence that the reforms have been inadequate and analyses 1986‐2000 national statistics to calculate three macro‐indicators of financial crisis, three measures of government permeability and some other ratios for the Chinese financial system. Identifies many weaknesses, concludes that it remains vulnerable to crisis and points out the potential dangers inherent in plans to allow foreign banks to engage in local currency businesses within the next five years.

Assesses the economic strengths and weaknesses of the six member states of the Co‐operation Council for the Arab States of the Gulf (GCC) and the patterns of trade between these states and the European Union (EU): the GCC’s largest trading partner. Explains the tariffs applied by the GCC states and the provisions of the EU‐GCC Free Trade Agreement; and considers its implications for trade, tariff revenues, industry, development prospects and political stability. Believes that it will contribute positively to the GCC and EU economies and help to reduce “tension between east and west”.

In the ever‐changing electronic environment of the twenty‐first century, price is one of the key strategic elements that is often overlooked by firms. The paper addresses differential pricing in business‐to‐consumer electronic commerce, in particular differential pricing for hotel services sold on the Internet. Hotels are able to take advantage of differential pricing for various segments because the market for hotels can be divided into narrow customer segments. An overview of e‐commerce and Internet marketing is provided. The characteristics of products sold online and differential pricing are discussed. Pricing policies for on‐line marketing are examined with a special emphasis on differential pricing, customer loyalty and segmentation. With the help of secondary data, online pricing strategies used by hotels on the Internet are evaluated. Finally, conclusions are drawn and implications for the hotel industry are discussed.