China economy transition

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Re: China economy transition

Post by Li Yuanyuan李媛媛 on Sat Nov 08, 2014 3:13 am

Industrialization, informatization, urbanization, marketization, and internationalization now become china’s economy’s distinguishing features. In the coming developing period, china’s economy is still in moving to focus on the human-oriented, innovative, sustainable development.

First, service Industry will have a broad development
Secondly, for the traditional industry, we should more focus on high-tech industry, such as medical, chemistry, or IT industry, which China could go into the leading group in the global environment.
Thirdly, industry that refers to environment protect or improvement will be more emphasized.

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Re: China economy transition

Post by Jason(Zeng Fanlin) on Sat Nov 08, 2014 6:36 am

The precondition of economy transition is talent and environment of innovation. Chinese patent protection is not attached with importance. And pirate is widely accepted in our society. The respect for innovation is not build up yet. It hinders the intention for innovation work. Good news is that government realized the Problem and trying to solve it. Another condition is talent human resource. Education system reform is key point. But unfortunately, Zhu Qinshi resigned from South University in last year,which regarded as reform failure. Current education system produce tools but not innovated brains. What's worse, as China become aged society, human-intended industry is not sustainable any more. China run out of demographic dividend. Economy transition is only way out.

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Talents VS. Old Fashion opinioned heads

Post by 黄如艺 on Thu Sep 17, 2015 7:50 am

On top of my mind, of course it's the talents. Especially the talents with more cross-discipline / - industry experience who can synthesis & leverage different experience. Not only the work experience is important, the open mind to new things and visionary / strategic thinking is definitely a plus.
Meanwhile, how to balance the new with old fashion thinking is also important. Variety does not mean accepting the new, but also tolerating the old.

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Re: China economy transition

Post by wuyingqiang on Thu Sep 17, 2015 10:04 am

Of course China has many advantages, such as great infrastructure, good educated young people and stable society.
I think the main problem is that we do not have the creative and innovative culture, the society does not encourage people to try high risk things, and people mock the failure forerunner. If we can not build the creative enviroment, we will be always munufacture economy.

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Re: China economy transition

Post by ZHU Yu on Thu Sep 17, 2015 6:23 pm

1、Control fiscal and financial risk, facilitating RMB internationalization
2、Promote efficiency of non-trade section, such as infrastructure construction, through introducing PPP mode to fully utilize private capital, etc.
3、Accelerate finding out new growth point, such as the rising of central and western regions, development of service section and strategic emerging industry, opportunity of urbanization and so on

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Re: China economy transition

Post by wenkaigu on Sun Sep 20, 2015 7:54 pm

With the development of China economies in the past 20 years, there are increasingly complex problems facing China and awaiting China to solve although China has been among the world’s fastest growing economies. Here would like to list out three major problems for China in the following 10 years.

First of all, the near-term challenge of China economies is to maintain the growth though a soft landing and the government should allow the slowdown partly. As the GDP growth estimation has been lowered compared with previous years, the situation actually reflects the deceleration from the high-speed level in the past years.

Secondly, there is also the structural challenge constraining the employment. With the globalization and urbanization, we have seen clearly the shifts from the agriculture and industry to the services sector which requires more creative skills with fewer workers. How to achieve the smooth shift while maintain the healthy employment will have deep influence on the stability of the overall social development.

In the end, we cannot the miss the challenges how to avoid the environment problems derived from the economies. To keep the fast-growing speed, many cities are ignoring the importance of investing in the high-tech to prevent from the air pollution and water pollution. The problem is vital for China to have a sustainable economic growth in the long run.

In summary, many problems and challenges facing China economies, however, we should keep our faith on the government and believe their ability to solve those external and internal problems efficiently.

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Re: China economy transition

Post by wuyingqiang on Mon Sep 21, 2015 10:24 am

Also, I think China need to keep flexible population policy. We need young educated people as many as possible, that is the key advantage we can compete with other developing country.

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Re: China economy transition

Post by Fan Lele(Laeticia) on Tue Sep 22, 2015 6:14 am

One success factor for this transition is if China can create a innovation based economy successfully.
Key challenges include:
1. To reform education system encouraging creativity, to supply the talents needed for such innovation-based economy.
2. Build up welcome environment to attract global talents, such as improve environment condition.
3. Increase R&D spending, and improve efficiency of R&D usage and improve intellectual property protection. R&D spending is only ~2% of total GDP, much lower than US 4%, and 21% from government.

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Re: China economy transition

Post by Helen Xujing on Wed Sep 23, 2015 9:45 am

When I wrote the case study of Lenovo after class, I tried to figure out the background problem for the Chinese famous company. However the key issue for Lenovo is a epitome of China economy. Because China boosted its economy for cheap manufacture. So did Lenovo. Lenovo built up it biggest PC vendor position due to the low cost manufacturing. While the current global market transfer the manufacturing industry to cheaper regions such as Vietnam or India. That is why Lenovo also suffers from the slow growing market trend of PC. How can China and Lenovo sustain the competence in such a critical transformation period? We have to focus more on the innovation. Lenovo should offer products of unique creative PC products instead of cheap one. China should offer the world a nutrient market of innovation.

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Re: China economy transition

Post by Shirley Zheng on Thu Sep 24, 2015 9:30 am

China is moving forward with a huge amount of humanity. The route to market economy can give this country more opportunity, while this is a way remains to be worked out step by step.

Jessica_Ren(Yan Jin Ren) wrote:The government management style should transit from a planned economy to a more market economy.

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Re: China economy transition

Post by Shirley Zheng on Thu Sep 24, 2015 9:42 am

Your thoughts have covered the similar phenomenon during the transformation for not only society or business model, this is quite good and clear.

Regarding to the fact that China is a unique market and quite complex of its fractured frame, May I have a chance to hear more taking Chinese related elements into consideration.

Cai Wei (Nathan Cai) wrote:Chellenges:
China will face economic growth slow down during the transitioning.

Opportunities:
Chinese economic structure will be reasonable based on the transitioning.

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Re: China economy transition

Post by Shirley Zheng on Thu Sep 24, 2015 9:45 am

Has anybody heard the book of "China's Rise: Challenges and Opportunities"? cyclops This is what I have purchased and I can share to you if you are interested.

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Re: China economy transition

Post by Shirley Zheng on Thu Sep 24, 2015 10:52 am

This is a practical and hot topic for the timing being, especially Chairman Xi is visiting US, as a symbol of China is transforming from low –cost manufacturing market, in parallel to its domestic economic boom, China has been growing as an international actor and as a ‘Rising Power’ in global development.
More and more foreign companies are moving the Asia Headquarter to China, due to the huge market share base in China. A piece amount of margin multiplies volume equals to profitable income. This is the key advantage of this transformation. Everything has two sides; the relatively under-advanced facility and smart connected society provide us opportunities in further development. Last but not least, Chinese is famous for its long- history legacies which are remaining as a mystery image for foreigners. For example, the artworks, the landscapes for sightseeing, even the dishes can be decorated into business opportunities.

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Re: China economy transition

Post by YANG Jing on Sat Sep 26, 2015 7:44 pm

China is always facing with challenges. As we all know, the economic status of a country usually means the political position of the country. This is the reason why our government pays much attention on the economic status. However, I don't suggest our government involved too much in economic. China is not the same "poor" country as long before, we are growing up and become a strong challenge for other wealthy countries. We have the ability to deal with all challenges and get rid of risks.

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Re: China economy transition

Post by Chen Yujia on Sun Sep 27, 2015 6:19 pm

Considering not satisfied official statistics issued recently, like PMI dropped to 47, record low last week, expected GDP slides to below 7, apparently China's economy is on the downside and will be there for quite long period from my perspective. As to the transition of China's economy transition, which will effect global economy significantly for its large size, there are couples of potential problems need to be solved, like how to manage the shadow banking system, how to achieve a soft landing, how is the process of the liberalization of interest rates, and how to deal with the gradual internationalization of the RMB, etc.

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Re: China economy transition

Post by amandazheng on Mon Sep 28, 2015 5:26 am

China is now experiencing the transition period because demographic bonus is fading away. Most of the industries developed in China in the last few years is the manufacturing. Now the companies faced this problem is that what they should do to optimize and upgrade the industries.

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Re: China economy transition

Post by qncheng on Mon Sep 28, 2015 10:27 am

challenges:
1.Innovation concentrates in cities, while villages are immune to the dynamic changes. Gag between rich and poor will be widened. This will lead to more social problem.
2.Government will face harsh supervise situation. No established policy to support the dramatic innovation.
opportunities:
1.Open market will bring more funds and job opportunities to China.
2.Accelerating China's integrating to the global market.

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Re: China economy transition

Post by ZhangWenwen on Mon Sep 28, 2015 4:39 pm

Challenges:
1. Education system - how to break current exam-oriented education convention and raise up more people with creativity
2. The openess and fairness in areas curretly monopolized by state-owned enterprises, which will help fuel the positive competiton and economy
3. Huge gap between developed and under developed regions that will slow down the whole country's development pace

Opportunity:
1. More and more students go out of the country and come back with diversified knowledge and background

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Re: China economy transition

Post by Yonglei Xu on Tue Sep 29, 2015 5:39 pm

Actually this is a must stage for the economy development.A low-cost manufacturing brought the rapid development and let “made in China ” famous in the world,but the cost is the environment serious pollution.Many years later,Chinese people focus on the life quality more and more,so the innovation-based,high margin economy is the trend.

Challenges are coming soon.Traditionally Chinese companies like coping or small change,me-too product is its strategy.So how to do innovation will totally new for those company.Another side,innovation needs a lot of investment to research and develop,which most of the R&D projects will die.When they face this situation,if they can continue?

But the big opportunity is to build the innovation system and well known Chinese brand.Government can publish and execute the policy to built the good innovation environment.Increase the awareness of innovation and intellectual property rights.

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Re: China economy transition

Post by SUN Yeqing on Tue Oct 06, 2015 5:56 pm

Challenges:
1. Limited technological level
2. Unemployment of people with lower education
3. High capital demand
4. High risks
Opportunities:
1. High profit from the market
2. Stronger national competitiveness
3. Potential to rise among developed countries

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Re: China economy transition

Post by Lujinyuan on Thu Oct 08, 2015 8:57 am

The most urgent task for the current central government is to avoid middle income trap and transform current development model to a more sustainable one. It's obvious that China will no more rely on the low-cost labor, neither on limited resources such as lands, coals and fossil oils. While over-manufacturing and incomplete political system transition remain two big problems in the road ahead. On one side, Chinese government tries to stimulate companies to make innovation and provide more working positions. On the other side, the central government holds a very sensitive relationship with provincial governments, especially on the finance affairs. In a word, political system transition is the premise of economic transition and the central government is still on the way of exploring a new kind of transition which other countries never encountered before.

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Re: China economy transition

Post by Edward.JI on Thu Oct 08, 2015 11:00 am

The economy transition for China is a must-do thing, and the good news is that Chinese government has been aware of the importance of economy transition, because current economic growth is not sustainable.
In my point of view, the biggest challenge for this transition is that the country is bound to encounter the resistance from people with vested interests. They would try hard to make trouble for the economy transition, so it'll be a long time to "battle" with them.
However, with the decline of growth rate of GDP, the Chinese government much pay more attention to other apporaches that can maintain the economy growth. Also for some enterprises, the top managements of this company have to consider adopting new managing mechanism and weeding out the out-dated system to upgrade their equipments and devices and to innovate neww buisness model. This must be a tough process, but it's worthwhile for them to do.

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Re: China economy transition

Post by XU Iris (Shanshan) on Tue Oct 13, 2015 6:02 pm

Transition from low-cost manufacturing mecca to an innovation -based and high margin economy is the general trend nobody can avoid. Look at the traditional manufacturing industry moved from western to eastern, low-cost is pursued by everyone to maximum profit.

Keep the core-competitiveness is the first priority at the moment, it means we need to create more positions which can bring real value to the industry, such as R&D, strategy, business development. This kind of position will play core role of the industry. It’s the upside to job market, people can easily break the career ceiling going forward.

Of course we will face challenges. Direct labor will face unemployment, enter barrier of core cities like Beijing, Shanghai will be harder to cross. Lots of people in core cities will be forced to leave.

However, if we look at the whole picture, this is the path exactly follow economic rule.

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Re: China economy transition

Post by ZHANG Ji on Wed Oct 14, 2015 5:30 pm

China is facing a lot of challenges,that's a long way for China to accomplish the economy transformation.
The government face many social exposure.they need to give up some interest and return to the mass.
Many people are not satisfied with the economy,tax,many institutions, etc.
It's a long way to change all of them.

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Re: China economy transition

Post by Zou Fuyong on Thu Oct 15, 2015 9:04 am

The optimistic view is that China’s growth potential is so great that it can manage the planned transition with ease. The pessimistic view is that it is hard for a country investing half of GDP to decelerate smoothly. I expect the transition to slower economic growth and greater reliance on consumption to be quite bumpy. The Chinese government is skilled. But it cannot walk on water. The water it is going to have to walk on over the next decade is going to be choppy. Watch out for the waves.

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Re: China economy transition

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