China's Modern Economy 中国现代经济 meets TuTh 11:45-1:15 Huntley 230
Alibaba’s finance arm and smartphone maker Xiaomi said on Thursday they will jointly develop mobile payment systems using wearable technology, which is the first for China’s major tech firms. More specifically, Xiaomi will enable Alibaba’s Alipay Wallet (China’s most popular online payment service) mobile app to link with Xiaomi’s Mi Band smart fitness bracelet, which will let users smooth… Continue reading Alibaba- Xiaomi Payment System Partnership
Earlier this term I wrote a blog post called “Cyber Censorship Threatens Chinese Businesses” about Chinese government’s intervention on limiting information accessed by Chinese citizens. More specifically, Internet users can no longer employ VPN (virtual private networks) to evade the government filters and restrictions (a.k.a. the Great Firewall). Recently there has been a wave of internet attacks on foreign… Continue reading Cyber attacks to limit information access of Chinese users
On June 1, stricter rules will be enforced on smoking in public places in Beijing, including bars, offices, stadiums and some outdoor areas such as those of hospitals and schools. Fines for failing to follow the rule could be as high as 10,000 yuan ($1,600) for the places and could be up to 200 yuan for… Continue reading China Ban Smoking in Public Spaces
The New York Times opens its article with a short narrative, “Jessica Cherry looks like a typical 5-year-old. But in the eyes of the Chinese government she is invisible.” This is because her Scottish father and Chinese mother didn’t get a mandatory birth permit, making it impossible for Jessica to acquire a Chinese passport… Continue reading Burden of China’s red tape
On March 12th, Britain announced to join China’s new Asian Infrastructure Investment Bank (AIIB) as a founding shareholder, making it the first big Western economy to apply for membership of AIIB. This movement has raised concerns to the US, its closest and most important ally. AIIB is one of a number of new institutions launched by China to fund… Continue reading UK support for AIIB prompts US concern
China reduces interest rates for the second time in three months to 5.35% — a movement meant to stimulate the stagnating economy. Lower interest rate is feared to significantly increase borrowing and encourage businesses to take on too much debts. The central bank, however, asserts that its policy remains “prudent”. The article offers 3 arguments. 1. In China, it is the… Continue reading Reasons Behind China’s Interest Cut
Remember this shocking picture of the man we saw earlier this term? In fact, aching bones and swelling across the body are only two of many problems Chinese water consumers face because of alarming pollution. According to a recent report of China’s Ministry of Environmental Protection, 60% of China’s groundwater is characterized as “bad” or “very bad”.… Continue reading Worse water pollution = Rising price for bottled water
Under the guise of improving security, the Chinese government is clamping down on technology companies and further limiting the access its citizens have to information that is not “sanitized” by the Communist Party. These moves will hurt China’s economy as they create a major rift between itself and the rest of the world. The government… Continue reading Cyber Censorship Threatens Chinese Businesses
While Chinese officials keep assuring that China’s declined growth rate is in accordance to their plan of entering a “new normal” period, many analysts cast doubts on such explanation and worry about the devastating effects it might have on people working in basic commodities such as steel and cement. Under the new normal, China’s economy is… Continue reading Effects of China’s “new normal”