Given the booming of internet usage in its domain, Chinese on-line shopping business is not growing proportionately. The absence of a market mechanism based on trust among suppliers and customers is to blame, although...Given the booming of internet usage in its domain, Chinese on-line shopping business is not growing proportionately. The absence of a market mechanism based on trust among suppliers and customers is to blame, although other factors as well holding the responsibility. Beginning with an introduction to the theory of ＂lemons＂, this paper reviews the status quo of trust in the Chinese cyber market, from the perspective of legislation, regulation and institution. It also prescribes several possible micro-solutions.展开更多
CHINA’s supercharged days of double-digit growth are over.The world’s second largest economy is now rebalancing.Instead of overinvestment,it is to be driven by consumers and services.
FIFTEEN years after China＇s wave of strategic inroads into Africa commenced, culminating in the First Ministerial Conference of the Forum on China-Africa Cooperation （FOCAC）. the Second FOCAC Summit will be held in...FIFTEEN years after China＇s wave of strategic inroads into Africa commenced, culminating in the First Ministerial Conference of the Forum on China-Africa Cooperation （FOCAC）. the Second FOCAC Summit will be held in Johannesburg, South Africa, on December 4-5, More than 50 heads of state, including Chinese President Xi Jinping and dozens of African leaders, will gather at South Africa＇s commercial center to chart the path of Sino-African relationship to 2018.展开更多
This research uses random networks as benchmarks for inferential tests of network structures. Specifically, we develop formulas for expected values and confidence intervals for four frequently employed social network ...This research uses random networks as benchmarks for inferential tests of network structures. Specifically, we develop formulas for expected values and confidence intervals for four frequently employed social network centrality indices. The first study begins with analyses of stylized networks, which are then perturbed with increasing levels of random noise. When the indices achieve their values for fully random networks, the indices reveal systematic relationships that generalize across network forms. The second study then delves into the relationships between numbers of actors in a network and the density of a network for each of the centrality indices. In doing so, expected values are easily calculated, which in turn enable chi-square tests of network structure. Furthermore, confidence intervals are developed to facilitate a network analyst’s understanding as to which patterns in the data are merely random, versus which are structurally significantly distinct.展开更多
This paper aims to propose a framework for estimating the optimal levels of capital at banks, elaborating factors such as liquidity and macroeconomic conditions. Firstly, as a preamble, the authors attempt to reorgani...This paper aims to propose a framework for estimating the optimal levels of capital at banks, elaborating factors such as liquidity and macroeconomic conditions. Firstly, as a preamble, the authors attempt to reorganize the variety of policy proposals for enhancing financial sector regulation. In light of the broad perspective of the prudential policy framework, the authors discuss the role of bank capital in enhancing banking-sector resilience. Secondly, the authors lay out an early warning system （EWS） to predict a financial crisis where the role of capital and liquidity are explicitly captured. Then, the authors apply the EWS as a component of a cost-benefit analysis （CBA） to gauge the benefit from raising capital and liquidity requirements, as more stringent regulations are expected to reduce the probability of financial ,crisis. On the other hand, financial-sector regulations should come along with certain costs. To quantify the cost, the authors employ some existing macroeconomic models to estimate the cost of raising capital and liquidity requirements. Combining the EWS （for benefit calculation） with the macroeconomic models （for cost calculation）, the authors provide a full-fledged CBA framework that can detemaine the optimal levels of capital that strike the right balance between the costs and benefits of the financial-sector regulation. The main results indicate that the optimal level of bank capital would considerably vary depending on the level of liquidity indicators both on the asset and liability sides of banks＇ balance sheets as well as macroeconomic conditions, typically represented by housing market inflation. Finally, the CBA framework suggests that banks could stand in a better shape with a counter-cyclical capital buffer to be well-prepared for a prospective distress.展开更多
South Africa looks to chart a difficult road to economic recovery after a COVID-19 impacted 2020 Over the past few years,South Africa has struggled with weak growth,rising unemployment and mounting public debt.Even be...South Africa looks to chart a difficult road to economic recovery after a COVID-19 impacted 2020 Over the past few years,South Africa has struggled with weak growth,rising unemployment and mounting public debt.Even before the COVID-19 pandemic struck,recessionary pressures were acute,with the economy in a technical recession,given two consecutive quarters of negative growth in the latter half of 2019.展开更多
ALTHOUGH it has been nearly a decade sincethe onset of the global financial crisis, a lack of con- fidence and general uncertainty are still sweeping the world economy. The recovery of world growth has been sluggish a...ALTHOUGH it has been nearly a decade sincethe onset of the global financial crisis, a lack of con- fidence and general uncertainty are still sweeping the world economy. The recovery of world growth has been sluggish at best. World demand remains depressed. Trade growth has been stagnating as protectionism has increased. Tighter financial condi tions persist, and coupled with lackluster capital flows, M＆A activities have declined.展开更多
A lot of changes have transpired in the global economy, in China, as well as in South Africa since the bilateral relations between South Africa, Africa＇s most industrialized country, and China, Asia＇s powerhouse, we...A lot of changes have transpired in the global economy, in China, as well as in South Africa since the bilateral relations between South Africa, Africa＇s most industrialized country, and China, Asia＇s powerhouse, were established on January 1, 1998. As the global economy finds its feet 10 years after the global financial crisis, China is now in its ＂new normal＂ featuring medium and low economic growth and South Africa is preoccupied with various political and economic challenges in a subdued African growth environment. What then has transpired in this commercial corridor over the past two decades？展开更多
Africa is often touted as the last continent still to industrialize. Overall. the continent has struggled to translate its resource wealth into greater prosperity and higher living stand ards for its people. With the ...Africa is often touted as the last continent still to industrialize. Overall. the continent has struggled to translate its resource wealth into greater prosperity and higher living stand ards for its people. With the United Nations expecting that there will be more Africans than Chinese by 2025, the need for economic transformation is clear.展开更多
LAST year served as an important year todeepen China＇s relationship with Africa. Politically, the relations are at their highest level ever. So are the commercial ones, spurred by continued financing commitments, div...LAST year served as an important year todeepen China＇s relationship with Africa. Politically, the relations are at their highest level ever. So are the commercial ones, spurred by continued financing commitments, diversifying investment portfolios and bilateral merchandise trade,展开更多
1.Introduction The COVID-19 pandemic requires af-fected countries to take swift measuresto protect the health and safety of theirp eople and support their economies.This article discusses the tax,customs and other eco...1.Introduction The COVID-19 pandemic requires af-fected countries to take swift measuresto protect the health and safety of theirp eople and support their economies.This article discusses the tax,customs and other economic support measures introduced in response to COVID-19 in the two largest economies in the Eurasian Economic Union(EEU)-Kazakhstan and Russia.展开更多
Although it has been nearly a decade since the onset of the global financial ,crisis, a lack of confidence and general uncertainty are still sweeping the world economy. The recovery of global growth has been sluggish ...Although it has been nearly a decade since the onset of the global financial ,crisis, a lack of confidence and general uncertainty are still sweeping the world economy. The recovery of global growth has been sluggish at best, and world demand remains depressed.展开更多
文摘Given the booming of internet usage in its domain, Chinese on-line shopping business is not growing proportionately. The absence of a market mechanism based on trust among suppliers and customers is to blame, although other factors as well holding the responsibility. Beginning with an introduction to the theory of ＂lemons＂, this paper reviews the status quo of trust in the Chinese cyber market, from the perspective of legislation, regulation and institution. It also prescribes several possible micro-solutions.
文摘CHINA’s supercharged days of double-digit growth are over.The world’s second largest economy is now rebalancing.Instead of overinvestment,it is to be driven by consumers and services.
文摘FIFTEEN years after China＇s wave of strategic inroads into Africa commenced, culminating in the First Ministerial Conference of the Forum on China-Africa Cooperation （FOCAC）. the Second FOCAC Summit will be held in Johannesburg, South Africa, on December 4-5, More than 50 heads of state, including Chinese President Xi Jinping and dozens of African leaders, will gather at South Africa＇s commercial center to chart the path of Sino-African relationship to 2018.
文摘This research uses random networks as benchmarks for inferential tests of network structures. Specifically, we develop formulas for expected values and confidence intervals for four frequently employed social network centrality indices. The first study begins with analyses of stylized networks, which are then perturbed with increasing levels of random noise. When the indices achieve their values for fully random networks, the indices reveal systematic relationships that generalize across network forms. The second study then delves into the relationships between numbers of actors in a network and the density of a network for each of the centrality indices. In doing so, expected values are easily calculated, which in turn enable chi-square tests of network structure. Furthermore, confidence intervals are developed to facilitate a network analyst’s understanding as to which patterns in the data are merely random, versus which are structurally significantly distinct.
文摘This paper aims to propose a framework for estimating the optimal levels of capital at banks, elaborating factors such as liquidity and macroeconomic conditions. Firstly, as a preamble, the authors attempt to reorganize the variety of policy proposals for enhancing financial sector regulation. In light of the broad perspective of the prudential policy framework, the authors discuss the role of bank capital in enhancing banking-sector resilience. Secondly, the authors lay out an early warning system （EWS） to predict a financial crisis where the role of capital and liquidity are explicitly captured. Then, the authors apply the EWS as a component of a cost-benefit analysis （CBA） to gauge the benefit from raising capital and liquidity requirements, as more stringent regulations are expected to reduce the probability of financial ,crisis. On the other hand, financial-sector regulations should come along with certain costs. To quantify the cost, the authors employ some existing macroeconomic models to estimate the cost of raising capital and liquidity requirements. Combining the EWS （for benefit calculation） with the macroeconomic models （for cost calculation）, the authors provide a full-fledged CBA framework that can detemaine the optimal levels of capital that strike the right balance between the costs and benefits of the financial-sector regulation. The main results indicate that the optimal level of bank capital would considerably vary depending on the level of liquidity indicators both on the asset and liability sides of banks＇ balance sheets as well as macroeconomic conditions, typically represented by housing market inflation. Finally, the CBA framework suggests that banks could stand in a better shape with a counter-cyclical capital buffer to be well-prepared for a prospective distress.
文摘South Africa looks to chart a difficult road to economic recovery after a COVID-19 impacted 2020 Over the past few years,South Africa has struggled with weak growth,rising unemployment and mounting public debt.Even before the COVID-19 pandemic struck,recessionary pressures were acute,with the economy in a technical recession,given two consecutive quarters of negative growth in the latter half of 2019.
文摘ALTHOUGH it has been nearly a decade sincethe onset of the global financial crisis, a lack of con- fidence and general uncertainty are still sweeping the world economy. The recovery of world growth has been sluggish at best. World demand remains depressed. Trade growth has been stagnating as protectionism has increased. Tighter financial condi tions persist, and coupled with lackluster capital flows, M＆A activities have declined.
文摘A lot of changes have transpired in the global economy, in China, as well as in South Africa since the bilateral relations between South Africa, Africa＇s most industrialized country, and China, Asia＇s powerhouse, were established on January 1, 1998. As the global economy finds its feet 10 years after the global financial crisis, China is now in its ＂new normal＂ featuring medium and low economic growth and South Africa is preoccupied with various political and economic challenges in a subdued African growth environment. What then has transpired in this commercial corridor over the past two decades？
文摘Africa is often touted as the last continent still to industrialize. Overall. the continent has struggled to translate its resource wealth into greater prosperity and higher living stand ards for its people. With the United Nations expecting that there will be more Africans than Chinese by 2025, the need for economic transformation is clear.
文摘LAST year served as an important year todeepen China＇s relationship with Africa. Politically, the relations are at their highest level ever. So are the commercial ones, spurred by continued financing commitments, diversifying investment portfolios and bilateral merchandise trade,
文摘1.Introduction The COVID-19 pandemic requires af-fected countries to take swift measuresto protect the health and safety of theirp eople and support their economies.This article discusses the tax,customs and other economic support measures introduced in response to COVID-19 in the two largest economies in the Eurasian Economic Union(EEU)-Kazakhstan and Russia.
文摘Although it has been nearly a decade since the onset of the global financial ,crisis, a lack of confidence and general uncertainty are still sweeping the world economy. The recovery of global growth has been sluggish at best, and world demand remains depressed.
