With all our discussion of the importance of Chinese culture, the arts should certainly play a role. The late Chinese-French painter Zao Wuo-ki’s piece titled “Abstraction” went up for auction last Sunday through Sotheby’s. The work is from the artist’s “Oracle Bone” period. The final sale price, including the art house’s commission, was about $14.6 million,… Continue reading Sotheby’s First Full Beijing Auction a Huge Success
China’s growing market strikes again as the placement of a strategic sales endeavor. The Swedish car brand Saab (bought last year by National Electric Vehicle Sweden AB) constitutes the latest product to enter the Chinese market with great hopes of a boom in sales. The brand has just started to produce the “9-3… Continue reading Electric Saab to Enter Chinese Market
November 11th is China’s “Singles Day,” a twist on the typical celebration of Valentine’s Day, and e-commerce reaps the benefits. This day was invented in the 1990s, as the date is said to draw connections to the Chinese phrase “bare branches for bachelors and spinsters.” Alibaba Group uses the two platforms Taobao and Tmall for… Continue reading China’s Unique Holiday Causes Jump in Online Sales
Although it may not seem directly related to the economy, the levels of non-communicable disease prevalence in China are, in fact, hurting the Chinese economic health along with physical health. Dr. Schwartländer, World Health Organization’s China representative, explained that the lack of exercise and high prevalence of smoking is leading to high rates of disease… Continue reading Non-Communicable Diseases Hurt Chinese Economy
It is becoming cost-effective to divorce in Beijing for tax purposes. The number of divorces in the first 3/4 of the year in Beijing was about 39,075 divorce suits, 41% higher than the figure for the same months last year and higher than the year-end total for last year. This growth rate is almost twice that… Continue reading Divorces Spike in Beijing- Taxes to Blame
Things may be looking up for the Chinese economy. China’s growth levels increased to 7.8% in the third quarter, easing fears of a slowdown for the world’s second largest economy. Causes may be government stimulus and increase in new lending. 7.8% tops the Chinese growth target, which hasn’t missed since 1998. However, the targets may… Continue reading China’s Third Quarter Growth
Obviously the U.S. government’s shutdown is causing tension and concern across the globe. It’s a rare and momentous event. While it may seem drastic, a Xinhua writer presents an argument for “de-Americanizing” the world.Note 1 Could this shutdown be the beginning of a huge shift in world culture? The article’s author comments, “Instead of honoring its… Continue reading Do the Chinese want to Sell Short…America?
Macy’s department store is the latest retail vendor to postpone or cancel online-expansion plans in China during to the country’s recent economic slowdown. However, the store claims the stall in the plans is due to needing to learn more about the Chinese market and shoppers. China’s e-commerce market has grow in competition; a Neiman Marcus… Continue reading Economic Slowdown Affects Chinese Retail in China
While government figures showed factory-output gains for the last quarter, implying growth for the Chinese economy, the China Beige Book would argue otherwise. The Chinese Beige Book is an independent source of Chinese economy analysis produced on a quarterly basis. This quarter’s publication describes slowing expansion nationwide and fewer companies borrowing money than usual. The… Continue reading A Sluggish Quarter for China
A recent article in the Wall Street Journal compares the current state of credit in China to that of the United States in 2007. This is an especially poignant comparison as we begin the semester and try to distinguish what characterizes the Chinese economy as unique. According to George Magnus at UBS, similarities between the… Continue reading Meltdown Similarities: China and the U.S.