China economy transition

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Re: China economy transition

Post by Li Bin_ Jack Li on Mon Oct 27, 2014 4:20 pm

This economic transition is not so easy. China should have very clear and strategy plan to move on and upgrade step by step. Not push so hard.Partically keep low-cost manufactury economic in some industry to assure society stable and ecomince big slow down does not occur, meanwhile expand this evolution from some key area but take risk lower and under control.

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Re: China economy transition

Post by Li Bin_ Jack Li on Mon Oct 27, 2014 5:26 pm

Some big challenges coming:
1>How to get market oritentated innovation ,because in the past 30 years China economic is lower-cost manufacturing driving, lack this experience and enough talents.
2> How to change social enviornment and culture to enbrace many and many creative idea to apply in the market and technology.
3> How to change government working way and forcus to prosper creative business models ,change the government dominating to market driving, better balance government and market leading role.

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Re: China economy transition

Post by Summer (Wensi) Huang on Tue Oct 28, 2014 8:53 am

There have always been predictions of doom. China's crash is always projected to be just around the corner, and yet it never happens- because the government does want the economy to slow. But the truth is: if China can not make transition from the labor-intensive model to innovation-based, high margin economy, it is doomed to lag behind pretty soon.

This problem has been so deep-rooted and far beyond a simple economic transition. It's more of a social mechanism and culture-reliant issue. China should start nurturing the innovation mechanism, otherwise the current transition from cheap 'Made in China' exports to importing luxury goods 'Made for China' is nothing but a panic response.

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Re: China economy transition

Post by Sun Ji on Sat Nov 01, 2014 5:32 pm

For my part, China will insist on the economy transformation for market-orientation, and the Chinese government will gradually delegate most approval authority to the local government, even leave the problem to the market to decide.

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Re: China economy transition

Post by wei zhenyao on Sat Nov 01, 2014 7:52 pm

China will be the center of commerce and technology that will demand a number of creative people who can make more value than farmers or workers. But in this transition period, the economics of China will slow down until the change is finished.

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Re: China economy transition

Post by Ethan-wangyanshen on Sun Nov 02, 2014 6:45 am

As Einstein said, without changing our pattern of thought, we will not be able to solve the problems we have created with our current pattern of thought.

So before we embrace the significant economy transition, we need to change our mind first. Innovation-based economy requires each people to get out of that little box or little bubble, to see everything from a different angle and to explore the infinite potential and possibilities. Since we Chinese people are always good at imitating and copying instead of innovating, this must be a tough lesson we need to learn.

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Re: China economy transition

Post by miguodong_14ga on Sun Nov 02, 2014 6:14 pm

In my opinion, that's a long way for China to accomplish the economy transformation. China is facing a lot of challenges, first the government and interest groups will face more and more social exposure and they have to decide how to smooth the complaint from overall society, finally they have to give up some interest and return to the mass, but the key point is how much they can give up and if this can satisfy the people. As the classic saying"the economic basis determine superstructure", the political system reform is critical issue, if china can not deal with it properly, all other transformations will be useless and may return back to the beginning.

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Talents Or Labors?

Post by 郭晶瑾 on Mon Nov 03, 2014 8:33 am

The most critical part of the transition is the talent. Whether we educate people to be a talent to just low-cost labors decide how well can we transform.
These are all depends on the education level and how much money Chinese goverment use in the education of our children. The investment of the education in primary scholl, middle school and universities. Especially in university, put more energy and more input in the R&D of the University R&D center, to bring more product out of our experiment room.

For the companies, inverst more in the R&D department to bring more new products to meet our customer's demands.

Government should give more encourage and reward to people who can make inovative ideas in the university or in the enterprise.

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Re: China economy transition

Post by Chelsea.ZhangXin on Mon Nov 03, 2014 9:34 am

There is a trade-off in economic structure shifting. China will have to endure a relatively low economic growth in the next few years and invest in education and intellectual property protection.

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Export could be enhanced through unlocking the minimum pay

Post by Rachel Han on Mon Nov 03, 2014 4:28 pm

China economic growth mainly rely on the investment and export and domestic consumption only contribute one third of scales.  Many economists say  improving domestic consumption is the solution.  I'd like to say domestic growth is important, but we still can build advantages in export.
we have the biggest working labors of the world but the minimum salary of labors harms our advantage in cost, which also lead to labors unhired. To build cost advantage, we could unlock the minimum salary through resetting the new labor law and let market decide the pay of labors. In the market, skilled people get high pay in the high-tech factories, and less skilled people go to the labor-intensive factories, which could keep the multi-type of export business and strengthen our capability on export.  Then our economic may have another driver.

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Environment for Innovation

Post by Yvonne (Gao Yiwen) on Mon Nov 03, 2014 6:11 pm

Besides laws to encourage and protect innovation, the environment is a also key point.
In the past, I thought only in relax and slow-paced environment like Paris and Florence, people could be creative.
But in Tokyo, Seoul, which are seemed as most creative cities in Asia, although people live with great pressure of work, they have much more famous creative brands and products than China.
This is an interesting phenomenon. Maybe China could learn something from our neighbors. Very Happy

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Re: China economy transition

Post by Charles Fu (Ruiqiang Fu) on Tue Nov 04, 2014 6:50 am

After about 30-year development at top speed due to reform and open policy, China is actually need to transform its economic pattern structurally. From the end-to-end value chain perspective, low-labor cost is no longer the most advantage for most of Chinese industry especially manufacturing industry. Instead, innovation is becoming the key driver for economy.
Challenge:
1. The education level of Chinese people is below than global average especially people in western area. This phenomenon also leads to lack of innovation capability.
2. No innovation and and creativity practice in place. Most of Chinese companies only just copy the products, business model and etc. of foreign companies.
3. Lack of laws and government policy to supervise the market. Intelligent properties are not well protected. Fraud will lead decreases of innovative enthusiasm.

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Re: China economy transition

Post by Tu Yuan on Wed Nov 05, 2014 12:02 pm

China should review and analyse current economic structure to make successful and smooth transition. We all know nowadays China government had did a lot to make it happen, but it takes time and need courage to make changes of how it be differentiated from yesterday, and I really believe it will happen but how to get there is a key.

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Re: China economy transition

Post by Chen, Huan (Helen) on Wed Nov 05, 2014 12:16 pm

China is well known as the manufacturing base in the world. Best example as Apple is designed in Califronia, but assembled in China. However, China only enjoy 2% profit while Apple US will enjoy 58%. This is a very clear evidence that China need to develop the own patent-related innovative products, rather than copying products quickly and cheaper.

This age values 'Brand' more and more. With the internet, any interesting stuff will spress around world in 24 hours. And easily copied and followed by others. What differentiate the leader will be the 'Brand', that's the minor thing attacts customer to choose, also the secret to charge premium and gain profit.

China needs to understand that innovation requires a process to prepare the thinking, the environment, and the culture. It needs various parts including the goverment support, policy protection, education rediness, etc...Hopefully with the course of CBI, we can start to challenge ourselves with innovation thinking and drive the right turn for China economy transition.

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Re: China economy transition

Post by Sely(Xu_Wen_Wen) on Wed Nov 05, 2014 4:07 pm

Challenges
China's co-packing industry is facing big challenges since we gradually lose the advantage on the low labor cost. Chinese entrepreneurs cannot gain benefit by simply copying design from others. Innovation become more and more important in recent life.

Opportunities
Companies are now providing more job opportunities for highly-educated students. They have the passion for life and are willing to accept changes. China will develop faster with the more and more applications for innovative ideas.

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Re: China economy transition

Post by Nancyzheng on Thu Nov 06, 2014 8:47 am

The transition of Chinese economy is bound to happen. The advantage of Chinese labor force is drifting away because of the appreciation and the high prize level. But the question is how should China do and in which direction?
In my opinion, China can no longer rely on the advantage of low cost labor force, so structure transition is on the way.
Industry includes service industry, manufacturing industry and resource industry.The main points of structure transition are:first, encourage the development of new industries and manufacturing industries; second, update the traditional industry; third, encourge the encouragement of service industries.
The strongest advantage of China is low cost labor which clearly will not be an advantage in the future. While the disadvantage is technology and manufacturing. While China has been doing poorly in manufacturing industry, the main reason might be the lack of innovation and protection of patent.
The lack of protection of patent makes people reluctant to do innovation. If one could easily make use of other people's ideas and innovations, why take the trouble of thinking themselves? So what China should do first is to improve the law and make adjustment to protect people's patent. Meanwhile, the perception of people should change gradually that innovation is also kind of property.
The lack of innovation has something to do with the education system. The education system offers the only standard for all Chinese children. But everyone has an advantage that is unique. What we should tell them is to make full use of your strong points.

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Re: China economy transition

Post by XU Xiaoling on Thu Nov 06, 2014 12:37 pm

China is no longer relying on its low labor cost to attract the overseas enterprise to establish its manufacturers in China. The obvious symptom is that many renowned garment producers have transfered their factories to Southeast Asia such as Vietnam and Indonesia where now having lower labor cost than China. The economy transition would make China get rid of its status as world factory, while this also would be an opportunity for Chinese manufacturers to orient to brand development as a mean of sustainable development by more focusing on technology investment, patent protection and quality improvement. Meanwhile, China government should utilize the period of economy transition to enhance the environmental management, which is currently an increasingly serious problem to China's sustainable development.

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Re: China economy transition

Post by William(Guo_Wenming) on Thu Nov 06, 2014 5:33 pm

As a big economy majorly focusing on manufacturing, China has achieved a lot from the past 20+ years.

Economy transformation is easy said than done, without years of experience providing nothing but cheap labor, giving up market share in exchange for core technology and strong support from the government, it can't be achieved even in another 50 years.

We are recently seeing changes in Chinese market, more and more company move upward to the other end of the industry chain from manufacturing in the intention of yielding more value return. Company like Huawei, Lenovo have exemplified the power of Chinese brand and brand itself can be deemed as a transformation of commodity good.

With the increasing number of company realizing the value of 'made and designed in China' and the technology improvement, I am confident that China can make greater progress in the development of world economy.

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Re: China economy transition

Post by Chen Liyun(Chloe) on Thu Nov 06, 2014 8:28 pm

China should implement the economic transition,it is a big challenge for the China's government, because the government needs a strong executive innovation strategy, and then use this reform to promote economy in China.

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Re: China economy transition

Post by 盛美娜 on Fri Nov 07, 2014 6:17 am

China is still a developing country. We must give to priority to economic development. Only development will deliver progress. Ultimately, it is only development that will resolve all the problems in China. We cannot advance without changing the growth model, nor can we advance without adequate development. Of course, the development we pursue should be one that promotes employment, increases incomes, improves economic performance and boosts energy conservation and environmental protection. It should be scientific development, namely, sound and balanced development that is in keeping with the laws governing economic activities, social development and nature.

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Re: China economy transition

Post by 盛美娜 on Fri Nov 07, 2014 6:23 am

China is already the world’s second largest economy, but in many sectors it still ranks fairly low and its traditional, extensive way of seeking growth has been proved unsustainable. Readjusting the structure must be driven, more than ever, by science and technology progress, and that requires strategic, structural, and innovative readjustment. We should support and provide guarantee to certain sectors and curb and scale back some others, cultivate and promote new products and new businesses and speed up the development of service, high technology and emerging sectors. At the same time, we should eliminate overcapacity, accelerate the transformation of traditional sectors and build global product and service value chains. We must invest more in human capital and increase the ranks of high-calibre workers. We should improve the technological sophistication, quality and brand awareness of Chinese industries.

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Re: China economy transition

Post by Vanessa(Wang Jingyi) on Fri Nov 07, 2014 5:10 pm

In my opinion, one of the challenges in China economy transition is economic growth can not bring full employment.

Before the year of 2000, a percentage point of economic growth could bring about the employment of 2 million. Now a percentage point of economic growth probably bring the employment of 0.8 million, that is to say the decline in employment elasticity. We have to face the great employment pressure, the number students graduating from colleages is 10 million every year.

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Re: China economy transition

Post by JIN Yuan on Fri Nov 07, 2014 5:51 pm

It's really a big time for the whole world, especially China. If China could seize the opportunity to realise the economy transition, the development of China is likely to improve a lot. Although many developed countries had proceeded similar transitions, China is facing a very different environment. China has to find its own way to achieve this goal. Rather than macroscopic aspects, I prefer to discuss some specific fields.
With the transition, a number of workers worked in factories have to find another industries for living. Most will rush to cities to find the jobs which require low-level skills, such as couriers, waiters, etc. It will be a great part of the challenges China is facing.
1. A large number of people rushing into cities will cause many problems for cities, such as congest, which will also have a great effect on public security, public resources allocation, such as education, public transportation, health resources, and so on.
2. With the countryside people came to cities for making money, they always leave their children and elder parents in countryside. The elders and children cannot be well cared for, and their security and children's education can not be ensured.
But coins has two sides. I believe challenges make opportunities.
For the first challenge, many people come into cities will offer plenty workers for service, logistics, and such industries . If these industries could be well induced, there will be a big development for these industries.
As far as the second challenge, the main question is how to attract people return to countryside or small towns. If people are willing to come back, most of the problems as well as the over congest in cities would be relieved or solved. Agricultural innovation I think could be a solution. How to improve the profit capability of agriculture and the standard of living and education for original farmers in countryside is the direction.

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Re: China economy transition

Post by Huangyanming-michelle on Fri Nov 07, 2014 5:53 pm

Our government need build more wholesome laws and systems.

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Re: China economy transition

Post by JamesZhang on Fri Nov 07, 2014 6:07 pm

to protect the intellgence property will be a key action to encourage innovation.

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Re: China economy transition

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