...For the first half of the 20th century, China faced political chaos. Following a revolution in 1911, which overthrew the Manchu dynasty, the new Republic failed to take hold and China continue to be exploited by foreign powers, lacking any strong central government. The Chinese Civil War was an attempt by two ideologically opposed forces – the nationalists and the communists – to see who would ultimately be able to restore order and regain central control over China. The struggle between these two forces, which officially started in 1927, was interrupted by the outbreak of the Sino-Japanese war in 1937, but started again in 1946 once the war with Japan was over. the results of this war were to have a major effect not just on China itself, but on the international stage. Long-term causes of the Chinese Civil War[edit] Socio-economic factors[edit] Summary of Socio-economic factors In 1900, China was ruled by the imperial Manchu dynasty. The vast majority of the population were peasants. Their life was hard, working the land, and most were extremely poor. It was the peasants who paid the taxes that in turn paid for the great Manchu imperial court.It was also the peasants who faced starvation during floods or droughts, as their subsistence farming techniques often left them with barely enough to feed their families. The population in China grew by 8 per cent in the second half of the 19th century, but the land cultivated only increased by 1 per cent. This imbalance made famines...
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...The impact of financial liberalization reform on economic growth: an empirical survey on China Introduction: In the past few decades, financial liberalization would be a main driving force and trend on countries’ financial reform. It aims to eliminate restrictions on financial markets and financial institutions, both domestically and internationally (Financial Liberalization). Thus, as a benefit of financial liberalization, a surge of competition and innovation was awakened in the US and rapid spread to other advanced economies’ financial market between 1970s and 1980s. As a result, banks had become bigger and financial intermediation was cheaper (Anon. 2007). However, an excessive freedom could encourage financial institutions to take unnecessary risks on lending business which would lead to financial crisis. The current great economic recession was caused by a new financial instrument crisis, subprime crisis which started from developed economies which had high level of financial liberalization. Therefore, to some extent, financial liberalization is risky in the process of financial reform. China had conducted its financial reform for more than 30 years. It had benefited from financial liberalization to accelerate capital accumulation. Now, it has the world’s most valuable banks and has the largest foreign exchange reserve. But, in general, Huang et al. (2010) stated that China’s financial reform is still focus long on quantitative growth but short on qualitative growth in...
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...The Hong Kong Polytechnic University MGT682 Independent Studies Corruption in China: Effects on Economic Development and Remedial Policies Thomas Wu 02715615G August 6, 2003 The Hong Kong Polytechnic University MGT 682 Independent Studies Corruption and Bribery in China Thomas Wu 02715615G August 6, 2003 Table of Content RESEARCH PROPOSAL TOPIC.........................................................................................................3 INTRODUCTION....................................................................................................................................3 OBJECTIVES AND HYPOT HESIS.......................................................................................................4 NATURE OF RESEARCH.....................................................................................................................5 RIVAL THEORIES.................................................................................................................................5 “GREASE-THE-WHEELS” THEORY .........................................................................................................5 MULTIPLE EQUILIBRIUMS ......................................................................................................................7 LOGIC MODEL......................................................................................................................................8 SIGNIFICANCE OF STUDY..............................
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...stories has been the rise of India and China, two of Jim O’Neill’s “BRIC” countries (FT Magazine, 2010). Despite the implementation of different economic policies (Gupta, 2008) both countries have emerged as major economic forces in the global economy (Bosworth and Collins, 2007), most notably since 1980. Since then, India and China have experienced a significant reduction in poverty with China lifting 500 million out of social deprivation. According to the World Bank (2013), China has had an average GDP of 10% each year while India has seen her GDP double over a similar period. The countries are often compared due to their large population and geographical vastness as well as climbing from third world countries to major economic forces in a relatively short time. However, despite a significant increase in GDP, India has failed to demonstrate the same rates of growth as China. Although both countries were in a similar position during the early nineties, China’s GDP has increased 7 fold since this time; whereas India, although steady, GDP has doubled. The average annual rate is by 10% in China compared to 5-6% in India (see Figure 1). The purpose of this paper is to compare the rates of growth of India and China over the past 30 years and examine possible explanations for this phenomenon. The economies of these countries are underpinned by social, economic and political issues which have all been relevant to their growth. China has placed emphasis on investment over...
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...Executive Summary Telecoms market of China is full of opportunities and challenges in 2010. After 3G licenses are issued, where are three big telecom providers going? All kinds of small amounts of electricity and comprehensive popularization of 3G cards will agitate the spark of splendid market in China. This article will discuss the development especially three main carriers first. And then review the developing process of China inclining to technological development and marketing development. After that there will be a forecast for Chinese telecoms industry. Executive Summary 1 Introduction 1 China telecoms industry development and three main carriers 2 Market and Technological Growth 4 China telecoms industry and Market Performance forecast 5 References 6 Introduction “According to IDC's statistics, the shipments of mobile phone manufacturers is 317.5 million in the second quarter, with a growth of 14.5% comparing with the second quarter of 2009's 277.2 million units”(Boyce 2010). This represents the second consecutive quarter of digit growth for mobile phone devices, which represents continued rapid growth in the global market for mobile phone. In recent years China has actively communications of infrastructure plan in 2010. According to the fourth season investigation, China has replaced the United States as a most populous country of the world broadband subscribers. The number achieves 83 million households compared with 80 million subscribers in the...
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...It is my belief that the primary cause of the current U.S. recession was a collapse of the U.S. housing market, which in turn was ignited by defaults in the subprime lending market. Then the domino effect happened with the stock market crash, businesses closing, and unemployment on the rise. Much like the cycle of life, economics is the cycle of existence and it just goes around and around. As it progresses it may affect the length of time it takes to get through certain seasons of the cycle on its rotation. We are just one world, whether we choose to function as a planned economy or a free market economy, because, at the end of the day, we are all interacting and doing business with one another. According to the National Bureau of Economic Research (NBER), a nonpartisan economic research organization based in Massachusetts, a recession is defined as a significant, protracted decline in economic activity that spreads throughout the country, affecting various economic indicators such as income, employment, retail sales, and industrial production. Somewhere between the late 2006 and early 2007, U.S. policy makers started to see some of these signs of recession in the U.S. Take for instance, the number of unemployed workers began mounting and housing prices, which had been booming for numerous years, fell rapidly. In January 2009, facing what seemed to be the worst economic crisis since the Great Depression of the 1930s, the incoming Barack Obama administration worked with Congress...
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...Chinese company go public on the US. EXECUTIVE SUMMARY In these years, many Chinese companies go public in the United States. There are more than 200 Chinese company go public in the United States, in which about 108 through backdoor listing and about 95 direct listing up to 2014. When Chinese company select the US, many difficulties and problems exposed out; like copyright, equity, conflict about different law, etc. They had to make some reforms for go public. These reforms for their businesses has a very significant impact. Alibaba and Thunder is famous Chinese company. Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. Thunder is download the software, while providing cloud on-demand service. The internet is very important in their business. They made much reforms to go public; Alibaba’s partner system and Thunder’s business model change. These reforms have profound implications for their company. They also provide a better demonstration for Chinese companies listed in the United States. 1.0 Introduction On 2014, many Chinese company choose go public in the United States. Actually, more than 200 Chinese company go public in the United States, in which about 108 through backdoor listing and about 95 direct listing. I will talk about two famous Chinese company which go public in the United States on 2014; Thunder and Alibaba. Alibaba Group...
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...Sultanate of Oman Ministry of higher education College of applied science of Al-rustaq International business administration Case study analysis Done by: kamil faiz juma al-naeby Presented to: Mr. Solanki Brief information about the case: The case is talking about the main conditions that enhance and evolve the efficient stock market with fair trading. Next, this case exactly talking about china stock market and how they can evolving the investment in the stock market. In the first, it describe the thinking of Chinese people on their benefit only. Also , this case discuss about the balance sheet which played by the firms and the investors without genuinely. After that , when are these firms are looked for , there were many liars on their balance sheets. The quality of listed companies themselves in this case is the real issue. The answers of questions: 1- Describe the conditions necessary to develop a stock market in an emerging economy? There are many different conditions to evolve stock market. For example, the development of stock market, the emerging of stock market , the stable market , the risk of stock market, the laws and registration of stock market, the investor confidence of the stock market, political commitment, privatization of stock market, stock market financial integration and worldwide companies. Regulations and law that is dependable- The existing of regulation and laws which are dependable and not only which are related to government...
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...Current situation analysis after China’s accession to WTO Introduction Since the reform and opening-up policy operated in China in 1978, China has already experienced a process of economic development and international trade improvement. In the early 1980s, China had tried to take several steps to end its economic isolation condition. After that, accompanying with the accession to WTO, China had received a new tide of development no matter in the field of economy or world trade. It has no doubt that China’s accession into WTO would bring about tremendous changes in China’s economic performance. Known as “World Trade Organization”, WTO is one of the most important international economic organizations and also a platform for ideas’ negotiation among different countries. Currently WTO has 159 members and is regarded as the "Economic United Nations”. China has joined the World Trade Organization as the 143rd member of it. From then on, China has made a significant economic improvement in foreign and international trade area, whereas, it also has brought some problems underlying the surface economy boom. And as some experts’ sayings, the disadvantages are far more than the advantages that WTO has brought along these 12 years’ development based on the analysis on the current economic environment, which has also been a challenge to China’s economy and future development from my point of view. The benefits that WTO has brought into China As some experts’ saying, China’s accession...
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...Han, Tang and Ming in China. During that time China took the leading position in economics, politics, culture, military and diplomacy. But after Ming dynasty China lost its leading position for a long time. Since the reform and opening-up in 1978, China’s reemergence of economics impresses the world substantially. In 2010, China witnessed GDP of 5,878.3 billion US dollars, which is at the second place just following United States 1. During the last decade, China moved from the being the ninth-largest exporter to the largest in the world. According to the Global Competitiveness Index 2011-2012 report, China’s global competitiveness index scored 4.90 and ranked 26 out of 142. The group performance of the developing world is boosted by the strong dynamics of some of the largest economies including China. At the meantime, China’s military power is also strengthened. From 1989 to 2010 China's official military budget increased by double digits every year 2. Based on above positive and negative facts, China’s reemergence really impacts the world’s dynamics in various dimensions. In general these impacts can be divided into areas including goods, technology, people, capital and culture. * China’s reemergence impacts world’s dynamics in different aspects Goods According the percentage distribution of Merchandise Exports data of 11 main economies3 in Asia, China’s percentage grew from 10.3 percent in 1995 to 29.1 percent in 2007. By 2007, China has replaced Japan as...
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...out of the inclusion of South Africa into the BRIC group in 2010. As of 2012, the group's five members are Brazil, Russia, India, China and South Africa. With the possible exception of Russia, the BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. As of 2012, the five BRICS countries represent almost 3 billion people, with a combined nominal GDP of US$13.7 trillion, and an estimated US$4 trillion in combined foreign reserves Presently, India holds the chair of the BRICS group. Due to steady growth in BRICS nations in the recent past their share in global output has grown from 11% in 2005 to 18% in 2010. President of the People's Republic of China Hu Jintao has described the BRICS countries as defenders and promoters of developing countries and a force for world peace. The BRIC grouping's first formal summit commenced in Yekaterinburg on June 16, 2009, with Luiz Inácio Lula da Silva,Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India and China, all attending. In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year.[14] South Africa officially became a member nation on December 24, 2010, after being formally invited by the BRIC countries to join the group. . ------------------------------------------------- History The...
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...The independence of internal auditing in China Term Paper Advanced Auditing February, 15 * The independence of internal auditing in China Abstract China’s rapid economic growth boosted its accounting system that has evolved at a singular rate. The national government encourages foreign investors to participate in the domestic capital market actively. The government also strictly supervises the different national economic activities; as a result, the credibility of the auditing system plays a important role. Chinese government as well as some firms seek reliable and independent internal audit services. This paper will examine some factors which may cause lack of independence in Chinese internal audit systems, the difference between the internal auditing in China and in western countries. Based on interviews and questionnaires, suggestions are made for future improvement on the internal audit system in China. Key words: internal auditing, audit independence I INTRODUCTION The globalization of economy, complexity of business and allegations of fraudulent financial reporting have recently sharpened the ever-increasing attention to internal controls and internal auditing. (Karagiorgos et al., 2009) The role of internal auditing is also evolving as reflected in the following definition ‘an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing...
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...2012 中国政法大学 Tristan Alberto Vaca Narvaja [THE LI AND THE FA ALONG CHINESE LEGAL HISTORY] China University of Political Science and Law 中国政法大学 An Overview of Chinese Legal System Introduction The purpose of this paper is to make an analysis about how the concepts of Fa and Li interacted between each other along the Chinese legal history, starting with a brief summary of the dynastic eras, and focusing in what we could call modern legal history, what I consider starts on the late Qing Dynasty. The analysis ends with the admission of China to the WTO, because I think that is a topic that deserves a whole new article for itself, and due to time limitations cannot be developed properly. The reason why I have chosen this theme is because I firmly believe that to be able to understand nowadays legal debates and legislation is necessary to have an idea about the broad historical and ideological Chinese framework. Along the more than 5.000 years of history, China has reinvented itself several times, learning from the hits and misses, unsurprisingly legal principles and legislation has followed the same stream. This papers starts with the genesis of the Li and Fa concepts, relating it with the Confucianism and legalism philosophies. Then, the each section illustrates an important period in Chinese history, emphasizing the situation of the law. Those sections comprehends, the late Qing dynasty, the republican era, the changes during the communist era, the application...
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...Ltd. All rights reserved Printed in Great Britain 0305-750X/$ - see front matter doi:10.1016/j.worlddev.2004.12.001 Economic Liberalization, the Changing Role of the State and ‘‘Wagner’s Law’’: China’s Development Experience since 1978 DAMIAN TOBIN * CeFiMS, SOAS, University of London, UK Summary. — The paper applies Wagner’s Law of increasing state activity to illustrate the changing function of the state in China as a consequence of economic liberalization. Wagner’s Law describes the association between increasing national wealth in progressive states and the rise in state activity and expenditure. This indicates that the causes of bureaucratic expansion are to be sought, not just in terms of political pressures, but the interplay between political considerations and the economic necessities, resulting from the emergence of new property rights. A simple illustrative model is developed to measure the effects of increasing national wealth and the growth of the public sector. This suggests that the patterns of economic development observed by Wagner in 19th century Europe are not unlike those observed in China today. Ó 2005 Elsevier Ltd. All rights reserved. Key words — Asia, China, economic growth, public sector 1. INTRODUCTION The relationship between economic growth and the size of the state sector has long been a topic of interest for public policy practitioners and academics alike. Throughout history, the role of the state has been critical in determining particular...
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...Summary Title: Hand-on maxim a recipe for success Reference Yu, E 2007, ‘Hands on maxim a recipe for success’, South China Morning Post, 12 February, p.6. Summary This reading told about the success progress of Michael Wu and how the influencing factors affect his management style. According to the reading article, in 1992, Michael Wu Wei-kuo gave up the opportunity form US investment bank with high salary, and became a delivery boy in his family business(Yu, E 2007). After went through tough time as a trainee toiling which benefited him a lot, in 2000, he took over the business from his grandfather who still want to supervised everything. As a result, the renovation is slow. Then, influenced by city’s changing tastes, he moved on from the old and launch a brand, which earned abundant revenue and successfully became worldwide(Yu, E 2007). Michael Wu states that worrying about high risk, his grandfather had been extremely against this change until he convinced him the idea was welcomed by youth(Yu, E 2007). Compared with his grandfather, Micheal Wu is more creative, risky and hand-off. Due to several influencing factors such as the modern trend, the hand-on mode of his grandfather and the needs to break with traditional, he formed his own management style. According to article, Michael Wu prefers to expand by acquisition and keep company roots when reform(Yu, E 2007). Besides, he likes to delegate more and give his staff freedom and authority, while he still...
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