Industrial Structural Changes in Hong Kong,China under One Country,Two Systems Framework

Hong Kong has undergone substantial economic transformations and developed into a sophisticated busi- ness and financial center in the Asia-Pacific region, since the return of sovereignty to China as a Special Administrative Region under the One Country Two Systems （OCTS） in 1997. This paper discusses and analyzes the industrial struc- tural changes of Hong Kong in recent decades as well as its future challenges and opportunities, The data and finding reveal that even though Hong Kong will face fierce competition from the Mainland＇s cities as the rise of China, the important role as a bridge between China and the rest of the world wilt brace Hong Kong itself under the OCTS for developing into a service hub for business and trade in the Asia-Pacific region.

A World in One Country

South Africa is a tourist＇s delight, with five-star scenery, wildlife, shopping and cuisine against the backdrop of an inspiring story of freedom

Taiwan Solution:One Country,Two Systems

ZENG Jianhui, spokesman of the Third Session of the Ninth National People’s Congress (NPC), acknowledged on March 4 that the Taiwan Question was widely discussed at the Third Session of the Ninth NPC and the Ninth Chinese People’s Political Consultative Conference (CPPCC). Following the return of Hong Kong and Macao, the Taiwan Question has been becoming an increasingly closely watched process.

The Impact of the Monetary Policy During the COVID-19 in the Brazilian Banking Sector

The COVID-19 pandemic caused an outbreak on the global productive chains,transforming companies and society in general.Governments adopted anticyclical policies such as basic interest rates reduction as response.Brazil basic interest rate is denominated Selic.The application of these policies requires the protagonist of bank’s financial intermediation.This study aims to verify two events-under the perspective of the efficient markets’theory.The first is the communication of the first death by COVID-19-and the subsequent,Selic rate reduction to 2%p.a.-and its effects on bank’s shares prices.The hypotheses presented are:H1-The announcement of the first death by COVID-19 negatively impacts the banks’shares returns and H2-The announcement of the Selic interest rate-during the COVID-19-positively impacts the return of the banks’shares.We adopt event study methodology in a final sample of nine and 15 banks to Events 1 and 2 respectively.The results confirm H1 as well as the semi-strong informational efficiency market.H2 is not confirmed.Results confirm the non-effectiveness of the anticyclical policy of basic interest rate reduction.This contributes to the discussion about the impacts of COVID-19 and the efficacy of anticyclical policies.

One Country,Two Sessions

China's ‘Two Sessions'are the annual meetings of the National People's Congress(NPC)and the Chinese People's Political Consultative Conference(CPPCC),key events in China's political calendar.The NPC,China's top legislative body,and the CPPcC,a majoradvisorybody,cometogether to discuss and decide on crucial policy directions,economic strategies,and other national issues.

China’s Monetary Policy Impacts on Money and Stock Markets

This study investigated the impact of China’s monetary policy on both the money market and stock markets,assuming that non-policy variables would not respond contemporaneously to changes in policy variables.Monetary policy adjustments are swiftly observed in money markets and gradually extend to the stock market.The study examined the effects of monetary policy shocks using three primary instruments:interest rate policy,reserve requirement ratio,and open market operations.Monthly data from 2007 to 2013 were analyzed using vector error correction(VEC)models.The findings suggest a likely presence of long-lasting and stable relationships among monetary policy,the money market,and stock markets.This research holds practical implications for Chinese policymakers,particularly in managing the challenges associated with fluctuation risks linked to high foreign exchange reserves,aiming to achieve autonomy in monetary policy and formulate effective monetary strategies to stimulate economic growth.

The Consumption-Driven Effect of Place-based Industrial Policy:An Empirical Study Based on Development Zone Policy

Can the development zone policy that pioneered Chinese industrialization energize the consumption of urban residents and become an important means of achieving the coordinated development of industrialization and urbanization?We used the policy impact of upgrading provincial development zones to conduct empirical research on the consumptiondriven effect of development zone policy with the Difference in Difference(DID)model.Our findings show that the upgrading of development zones is significant in raising urban residents’total consumption,personal consumption,housing consumption and expenditure on children’s education.This is mainly due to the increase in productivity brought about by the upgrading policy.However,in cities that have more stringent household registration(hukou)systems,impose tougher home purchase restrictions(HPR)on the floating population and have less social harmony,the labor force is less willing and less able to consume,making it hard to expand domestic demand.

“One Country,Two Systems”Guarantees Hong Kong's Prosperity

Deng Xiaoping met with Margaret Thatcher after signing the Sino-British Joint Declaration in Beijing,stressing that China will adopt a "one country,two systems"policy when it resumes sovereing right over Hong Kong.(19 December 1984)

One Country,Two Viewpoints The Japanese emperor's remorse over non-Japanese victims of World WarⅡdiffers sharply from the prime minister's persistent Yasukuni Shrine visits

Against the backdrop of all-time low relations with Asian neighbors, Japan's Emperor Akihito used the occasions of his annual birthday press conference and New Year greeting to talk to his nation about wartime history. The fact that he rarely addresses

Sandwich-Course Training in Higher Education as a Major Strategic Thrust Regional Policy of Professional Training： Lessons Learned From the Pioneering Example of the University Institute of Technology Corsica

Corsica is an island economy marked by the complete absence of any of the big holdings and multinationals that fuel and forge the worldwide economy. Equally absent is any of the kind of medium-sized enterprises servicing big business that have spearheaded local economies in other regions like Lombardy. Corsica＇s economic fabric is essentially made up of small and home businesses, farm smallholdings, artisans, and small-scale retail. Given how public-sector capital investment is already hypertrophied, a policy of investment in human capital could be a compelling new opportunity to trigger a dynamic regional development impetus. Leading the way, the University Institute of Technology Corsica, Corsica University＇s affiliated school of applied vocational technologies, is demonstrating its ability to act as a structurally engaged facilitator of island-wide spatial planning and regional branding. As a founding pillar in pioneering the emergence of a sandwich-course training system in higher education in Corsica, in 2010 the university made its entire training curriculum fully accessible to all through the signature of apprenticeship training or vocational qualifications agreements. This grass-roots programme is the outcome of a committed core strategy to develop partnerships with the island＇s key social and economic communities （businesses, community groups, and local authorities）, and it plays a fundamental role in shaping and selling the most vital valued assets that typify a regional territory emerging into a structured destination-brand identity （simultaneous growth in the employability and quality of school-to-work transition shown by its human capital, mass shift in the degree of skill acquisition directly tied to the regional territory＇s own organic needs, fluidity of knowledge transfer fully controlled through sandwich placements, deep sustainable entrepreneurship education etc.）. After highlighting the specific features of the sandwich training policy development process in Corsica as a shaper of the Regional Vocational Development Programme, this paper brings an analysis of the lessons learned from the pioneering example of the University Institute of Technology Corsica as a dynamic engineer of structured future and regional brand for Corsica.

Empirical research on the international spillover effects of U.S. monetary policy and their impacts

Empirical research has shown that there were international spillover effects from the U.S. monetary policy to output level, net exports and price levels of each country, and the impact on prices in each country was of synchronous effect. The structural impulse response analysis showed that U.S. monetary policy could improve U.S. income and payment without damaging U.S. economic growth, but the shocks negatively affected the economic growth in the rest of the world. Hence, it's important to pay close attention to the moral risks of U.S. monetary policy to evade the global shocks caused by the "benefit-itself-at-the-expense-of-others" polices of the American government. Besides these findings, U.S. monetary policy shocks strongly affect China's trade surplus fluctuations. Based on this, we propose that the approaches of balancing China's current account could be explored efficiently from the perspective of monetary policy.

A global perspective on macroprudential policy interaction with systemic risk,real economic activity,and monetary intervention

The study empirically assesses how macroprudential policy interacts with systemic risk,industrial production,and monetary intervention on a global level from January 2006 to December 2018.We adopt the aggregate proxies of these variables,capturing their global effects,and use a novel econometric technique,namely,smooth local projections.The study finds that global macroprudential policy leads the monetary policy,exhibiting a countercyclical pattern concerning industrial production.The latter has an inverse bidirectional linkage with systemic risk.Thus,an ex-ante tight macroprudential policy can indirectly mitigate global systemic risk through its pro-growth effect on industrial production,although no convincing evidence exists for the direct impact of a macroprudential intervention on systemic risk.The study results endure several extensions and a robustness check,which builds on alternative measures of global systemic stress and real economic activity,thereby legitimizing the increased importance attached to the macroprudential policy since the 2007–2009 global financial crisis.

Indonesian Entrepreneur On Indonesia-China Energy Cooperation

From March 31 to April 2,Indonesian President-elect Prabowo Subianto visited China for his first overseas trip after winning the Indonesian presidential election in February.During the visit,Prabowo affirmed that he would continue the friendly policy toward China and promote the comprehensive and high-quality development of relations between the two countries.

Land Use/Cover Change and Its Policy Implications in Typical Agriculture-forest Ecotone of Central Jilin Province,China

During the 21st century,policies toward agriculture,forestry,and urbanization have emerged to ensure food security,ecological restoration,and human well-being by managing land in Northeast China.However,the integrated effects and relationships of various policies are still not well understood.This study observed the land use land cover changes in Central Jilin from 2000 to 2019 and,by considering policy involvement,aimed to understand the effects and trade-offs of policies.Results showed that the cropland,including dryland and rice paddy,and the forest,including coniferous forest and deciduous forest,are dominant land types in Central Jilin.During 2000–2019,the land changed diversely,of which the main changes were the expanded dryland(+0.43 million ha),the increased deciduous forest(+22 million ha),the decreased coniferous forest(–0.08 million ha),and the expanded urban settlement(+0.04 million ha).With these changes,despite the unit grain yield showing a rising trend,the yield contribution of Central Jilin to the national total decreased.The poor cultivating structure made for the cropland expansion and reduced the implementation space of environmental restoration projects such as the Grain to Green.Thus,in Central Jilin that transits from the agri-food production zone to the eco-regulation zone,environmental projects coexisted in a trade-off manner with agricultural policies that aim to liberate agricultural productivity.In the key urban agglomerations of Central Jilin,the increase in the proportion of green space improved the thermal environment and carbon balance.The gross domestic product of the large city and its local proportion also rose.These improvements benefited from the promotion of development policies and urbanization policies at key time points.In the future,it is necessary to coordinate agricultural policies and environmental projects and promote the progress of small-and medium-sized cities to ensure the equality of regional development.This study has implications for making decisions to revitalize Northeast China and researchers who inform decisions.

A Lonely Journey:An Autoethnography of the Fifteen-Year Identity Construction of a Female ESP Teacher in China

This autoethnographic study explores from a sociocultural perspective the author’s identity construction journey as a female English-for-specific-purposes(ESP)teacher at a university in China for more than 15 years.It delves into the author’s evolving exercise between teacher agency and language policy within both institutional and national contexts.The author aims to voice for marginalized ESP teachers and create a space for them to better negotiate with English-for-general-purposes(EGP)colleagues,academic staff,and policy makers.This study highlights the significance of autoethnography in teacher identity research,particularly for niche ESP teachers who direct novel enterprises through bottom-up implementation.Furthermore,the author emphasizes humanism behind ESP instruction,which significantly expands the view that the ESP features instrumental value.She also advocates for comprehensive support to sustain ESP teaching innovation,ESP teachers’identity construction,and their professional development.These insights have implications for all accountable parties in the context of educational reform to enable constructive negotiation,for ESP teachers to develop their sense of empowerment,and for inclusive education to become more accessible.

Investigation on the Regional Branding Mode of Modern Agriculture in Guanzhong-Tianshui Economic Zone——From the Perspective of Country-of-origin Image

The theory of the country-of-origin image is discussed and the natural relations between county-of-origin image and the regional brand are explored.The paper points out that the dispersion of agriculture has intensified the natural relations to a large extent.The paper probes into the branding status of agriculture in Guanzhong-Tianshui economic zone and points out the problems of it.In the first place,the agricultural industrial system is complete but there is no unified agricultural regional brand;in the second place,the weak awareness on protecting brand leads to the irrational behaviors on damaging brand.From the perspective of the image of the country of origin,the branding mode of agriculture is established and the countermeasures on improving the competitiveness of agricultural products are put forward.Firstly,the leading role of the government should be fully displayed;secondly,the image protection of original production place and regional brand promotion of the agricultural region should be intensified;thirdly,the functions of local pillar industries in protecting image and regional branding should be fully made use of.

The Influence of Monetary Policy and Fiscal Policy on the Rural Residents' Consumption

This paper conducts an empirical analysis of influence of fiscal expenditure supporting agriculture monetary supply on rural residents' s consumption by adopting a vector auto-regression model,based on the data from 1978 to 2011.The study indicated that:in the short term,fiscal policy is the Granger reason of rural residents' consumption,monetary policy is not the Granger reason of rural residents' consumption;in the long term,the comprehensive function of fiscal policy and monetary policy has a great influence on the of rural residents' consumption.Under the background of Economic Transition and Urbanization,Expanding Domestic Demand is the slogan.We should coordinate fiscal policy and monetary policy to promote the rural residents' consumption.

Monetary policy rules：Forward-looking and backward-looking in an overlapping generations model

In the framework of an overlapping generations model, forward-looking monetary policy roles and backward-looking monetary policy rules were investigated. It is shown that the monetary steady state is more likely to be indeterminate under an active forwardlooking rule than under the corresponding backward-looking rule. It is also shown that backward-looking roles can render the monetary steady state unstable.

Optimum Maintenance Policy for a One-Shot System with Series Structure Considering Minimal Repair

One-shot systems such as missiles and extinguishers are placed in storage for a long time and used only once during their lives. Their reliability deteriorates with time even when they are in storage, and their failures are detected only through inspections for their characteristics. Thus, we need to decide an appropriate inspection policy for such systems. In this paper, we deal with a system comprising non-identical units in series, where only minimal repairs are performed when unit failures are detected by periodic inspections. The system is replaced and becomes “as good as new” when the nth failure of the system is detected. Our objective is to find the optimal inspection interval and number of failures before replacement that minimize the expected total system cost per unit of time.

Conjuncture Cycles and Monetary Anomalies Are Unwelcome Guests for Sustainability

Economic cycles are not economic evils but rather healing agents for returning to equilibrium,just as inflation and deflation are not economic misfortunes but the sign of bad governance and a bitter medicine for returning to calm monetary.Unfortunately,signs of poor governance are mistaken for unfortunate events,but are instead tools offered to restore economic systems.Politics seeks consensus and does not accept the bitter cure of recession.Monetary policy is therefore called into question even if monetary anomalies also depend on errors in the management of the economy;the result is the gradual increase in interest rates.Is the idea that we can achieve the goal of complete neutrality with nature acceptable in a global economic framework pervaded by inflation and denunciation?Can we similarly argue that economic problems can coexist once the goal of neutrality has been achieved?The answer is negative.We must correct these anomalies and dysfunctions of the economy,which cannot coexist in the new context of complete and indefinite equilibrium of tomorrow.And not even the idea that conflicts can be resolved with war seems to find a place in the renewed scenario of neutrality.In this regard we can remember that,when we have reached the economic optimum of complete neutrality,or at least we are close to it,the most socially and economically advanced territories and continents will benefit from an acceleration of productivity and development.Scarcity itself will give way to the new,long-awaited reality.A condition that approaches the state of abundance and which will produce surpluses to be allocated to countries and territories that are struggling towards the condition of neutrality.The acceleration of lagging continents and the recovery of altered economic systems are therefore preconditions that can allow us to access the state of global neutrality.As we get closer to the great objective,it is to be believed that the pretense of regulating conflicts through war will also disappear.With the new reality of abundance,the economic reason for war disappears,while the aspiration of peoples-inscribed in their DNA-for solidarity and peaceful aggregation towards substantial unity becomes clear.