As critical piece of China＇s gradualist economic transition, domestic price reform still faces major challenges. In particular, factor price, which is still tightlycontrolled and not market-based, is lower than marke...As critical piece of China＇s gradualist economic transition, domestic price reform still faces major challenges. In particular, factor price, which is still tightlycontrolled and not market-based, is lower than market equilibrium price. Factor price distortion not only reduces market efficiency but also affects wealth distribution. Subsequent wealth transfer has, over the past ten to fifieen years, created a powerful vested interests and spawned social resentment, both of which may constitute major hazards in China＇s future reform and development. Keeping in mind that China will have to address factor price distortion in its next step of reform, this paper takes stock of China＇s journey toward price rejorm; examines the relationship among factor price distortion, previous economic growth, and policy; and estimates＇ the size of resulting wealth transfer.展开更多
The Malaysian government＇s vision to be a developed nation by 2020 has pushed forward the use of innovative technologies in most sectors and industries, including the construction industry. Through the ETP （Economic...The Malaysian government＇s vision to be a developed nation by 2020 has pushed forward the use of innovative technologies in most sectors and industries, including the construction industry. Through the ETP （Economic Transformation Programme）, major projects launched are expected to provide a great catalyst for the economy, and may become the platform for increasing the use of automation and highly enhanced plants and machineries in the construction industry. Innovations in most countries are mostly driven by the need to find revolutionary solutions to problems, such as a shortage of skilled labor, decreasing quality of product and processes, inferior working conditions, declining productivity and increasing costs of labor and materials. Automation and robotics technologies encompass a wide range of innovative technologies using technologically advanced machineries to improve the speed and efficiency of a given process. This paper discusses the readiness of a developing country in embracing construction automation and robotics, by exploring industry perception, suggested practices and barriers to its implementation using a questionnaire survey and semi-structured interviews directed at Malaysian construction finns of contractors, specialist sub-contractors, developers and consultants. The findings show that the Malaysian construction industry is ready, to a certain extent, for implementing the technologies in limited areas such as prefabrication and assembly and in the design, planning and costing phases.展开更多
文摘As critical piece of China＇s gradualist economic transition, domestic price reform still faces major challenges. In particular, factor price, which is still tightlycontrolled and not market-based, is lower than market equilibrium price. Factor price distortion not only reduces market efficiency but also affects wealth distribution. Subsequent wealth transfer has, over the past ten to fifieen years, created a powerful vested interests and spawned social resentment, both of which may constitute major hazards in China＇s future reform and development. Keeping in mind that China will have to address factor price distortion in its next step of reform, this paper takes stock of China＇s journey toward price rejorm; examines the relationship among factor price distortion, previous economic growth, and policy; and estimates＇ the size of resulting wealth transfer.
文摘The Malaysian government＇s vision to be a developed nation by 2020 has pushed forward the use of innovative technologies in most sectors and industries, including the construction industry. Through the ETP （Economic Transformation Programme）, major projects launched are expected to provide a great catalyst for the economy, and may become the platform for increasing the use of automation and highly enhanced plants and machineries in the construction industry. Innovations in most countries are mostly driven by the need to find revolutionary solutions to problems, such as a shortage of skilled labor, decreasing quality of product and processes, inferior working conditions, declining productivity and increasing costs of labor and materials. Automation and robotics technologies encompass a wide range of innovative technologies using technologically advanced machineries to improve the speed and efficiency of a given process. This paper discusses the readiness of a developing country in embracing construction automation and robotics, by exploring industry perception, suggested practices and barriers to its implementation using a questionnaire survey and semi-structured interviews directed at Malaysian construction finns of contractors, specialist sub-contractors, developers and consultants. The findings show that the Malaysian construction industry is ready, to a certain extent, for implementing the technologies in limited areas such as prefabrication and assembly and in the design, planning and costing phases.
