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Why Should People’s Republic of China Unlock Services?

A well-developed services sector plays a major role in improving production efficiency and promoting technical progress and innovation. The services sector has expanded rapidly in the People’s Republic of China (PRC) since economic reform was launched in 1979, and particularly after PRC joined the World Trade Organization in 2001. However, the size of the sector as a share of GDP appears to be significantly smaller than expected based on PRC's income level and development stage.

Yolanda Fernandez Lommen

Reforms High on Agenda of People’s Republic of China’s New Leaders

In March 2013, the National People’s Congress (NPC) of the People’s Republic of China (PRC) will convene to appoint the new General Secretary of the Communist Party Xi Jinping as President. At the same time, Li Keqiang is expected to be confirmed as Premier heading a newly appointed State Council.

Beijing’s smog-laden skies obscure the Forbidden City in a thick orange haze. Photo credit: iStockphoto.

The Price of Breath in Beijing

If a frog is placed in a boiling caldron, it will immediately jump out to safety.  If the same frog is placed in water, which is slowly heated to boiling, the frog will tranquilly remain and eventually die from overheating.

This biological anecdote is frequently utilized as a metaphor for our political state of affairs over global climate change.  As the planet slowly heats and succumbs to gradual change we unwittingly accustomize without sensing the dangers that await us.  The lessons from this phenomenon also encompass the state of our cities and the transport sector.

Lloyd Wright

A view of smog, haze in the city’s skyline in People’s Republic of China.

Pollute First, Clean Up Later: Could We Avoid this Development Model?

Resource depletion and environmental pollution are serious issues in developing Asia. This was well illustrated in January of this year when northern People’s Republic of China (PRC) suffered its worst air pollution on record. The level of pollution moved many to question the old development model of “pollute first, improve later”. 

Aiming Zhou

Aging: A Threat to People’s Republic of China’s Growth

Aging can adversely affect economic performance, demanding changes in social and economic policies to address the challenge. While the best-known dimension of aging relates to fiscal sustainability due to spiraling health care and pension costs, the repercussions are wider. More worryingly, aging will ultimately constrain economic growth because labor supply shortages result in lower GDP growth in the absence of increases in total factor productivity.

Yolanda Fernandez Lommen

Spread between the 1-year AAA and BBB+ corporate bond yields in PRC. View <a href="/sites/default/files/chaori-chart.png">chart</a> in full.

Chinese bond default – What does it mean for Asia's bond market development?

Last Friday, 7 March, 2014, Shanghai Chaori Solar Energy Science and Technology Co Ltd defaulted on its 1 billion yuan ’Chaori-11 bond‘ when it failed to pay in full the coupon due that day. The default should not have taken investors by surprise as the company has been struggling over the past few years due to general weakness in the solar panel market.

Thiam Hee Ng

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