The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.
The conventional belief that all regions have equally benefited from China’s remarkable development over the last three decades is subjected to criticism in this book as Hong Yu systematically analyses the issue of regional inequality during the post-1978 period using the case of Guangdong. Guangdong is one of the key industrial centres and economic powerhouses in China and as a pioneer province, instigating economic reform as China opened up to the world, it offers an ideal focus upon which to question and enrich the Western theories of economic geography and regional disparity. Based on field research, analysis of geographic characteristics and regression models, this book illustrates how Guangdong’s impressive development record has been marred by its rising regional disparity, investigates the main causes of this disparity, and draws conclusions regarding the lessons China can learn from it. Economic Development and Inequality in China will be of interest to students and scholars of Chinese economics, Chinese regional studies, economic geography and China Studies. Hong Yu is a Visiting Research Fellow at the National University of Singapore. His research interests lie in the field of regional economy. He is the author of a chapter on China’s two delta regions in the book "China and The Global Economic Crisis".
The issues surrounding Hong Kong's global position and international links grow increasingly complex by the day as the process of Hong Kong's transformation from a British colony to a Chinese Special Administration Region unfolds. This volume addresses a number of questions relating to this process. How international is Hong Kong? What are its global and international dimensions? How important are these dimensions to its continued success? How will these dimensions change, especially beyond the sphere of economics? Is Hong Kong's internationalization, defined in terms of its willingness to embrace international values and its capacity to maintain its international presence, at risk? These questions are presented as they pertain to the changing situation; relations between mainland China, Taiwan and Hong Kong; the positions of Australia, Canada and the United States on Hong Kong; internalization of international legal values; Americanization vs. Asianization; linkages to the world through Guangdong; strategies to emigrate overseas, cultural internationalization; media internationalization and universities within the global economy.
In ancient times, scholars such as Confucius and Aristotle expounded on the virtue of the “middle way” or “intermediate,” an ideal point of moderation or balance between the extremes of human behavior. Adam Smith, widely considered the father of modern economics as we know it, also encouraged propriety in his first work, The Theory of Moral Sentiments. Since then, different schools of economics have continued to incorporate the idea of propriety into their theories, for example in such concepts as equilibrium and bounded rationality, though few economists have defined it explicitly. In light of growing uncertainty and polarization around the world, propriety economics offers alternative solutions for markets, governments, and everyday citizens. This book embarks on a thorough review of Eastern and Western philosophies of propriety over the past 2,500 years, followed by an investigation of the ideas of propriety found in five key schools of economics: classical, neoclassical, institutional, behavioral, and cultural economics. The author then outlines the core principles and recommended practices for the study and implementation of propriety economics in the future. With its unique mixture of theory, literature reviews, methods, and case studies, this book will be useful not only to economic scholars, but also historians, policy makers, and any reader with an interest in making the economy work better for the benefit of all humankind.
The paper explores the behavior of the long-run real exchange rate (RER) of Hong Kong SAR and China by testing the generalized-purchasing power parity hypothesis (G-PPP). The hypothesis argues that if the fundamental variables determining RERs are sufficiently integrated, as in a currency area, the RERs should share common trends. The findings of this study suggest (1) at present, Hong Kong SAR and China do not satisfy the conditions necessary for forming an optimal currency area by themselves; (2) when Japan and the United States are added to the group, common trends can be found; and (3) the long-run elasticity between the RERs of Hong Kong SAR and China is negative.
This book offers extensive and quality research on and original insights into China’s internal regional dynamics. It provides a focused analysis of the internal dynamics and regional economic diversity of China covering the eastern, central and western regions through case study, data analysis and review of state-initiated policy measures. The book also identifies and analyses existing and potential challenges facing China’s regions in their pursuit of sustainable development. Different regions in China have attempted to achieve fast economic growth and move up the industrial value chain through industrial restructuring and upgrading, inter-regional industrial transfer, urbanization or seeking central government’s endorsement of new regional policies. The book examines the difference and similarities among local government policies to boost regional industrial and economic growth and assesses their implications and effectiveness. The author had conducted detailed studies in this field in order to bridge the existing research gap and the book will help to give rise to useful and illuminating discussion.
Overview & Chronology is the first title of the book series Hong Kong Chronicles by Hong Kong Chronicles Institute. It presents a detailed overview of Hong Kong’s local history and more than 6,500 major historical events taking place between ancient times and 2017. The book series consists of 66 volumes to be released in 42 books with 25 million words and completed in phases by 2027. It covers a historical timeline of 7,000 years – from the New Stone Age 5,000 B.C. to the inauguration of the fifth term of the HKSAR government on July 1, 2017. It includes 10 major categories, including nature, economy, culture, society, politics and people, etc. Local chronicles have the important functions of preserving history, providing reference for policymaking and educating the people. Through the compilation of local chronicles, it serves to seek out, preserve and promote the stories of people, their socio-economic development and way of life as well as political structure. It plays an important role of cultural significance in driving the future by reflecting on the past. The book series is of profound historical significance and cultural value as an accurate, objective, systematic and comprehensive record of 7,000 years of Hong Kong's transformation.
As the first comprehensive study of its kind, this book analyzes the dynamics, processes, mechanisms, and consequences of socio-economic and political changes in Singapore Chinese society from 1945 to 1965. By employing a wide range of primary materials that have been rarely used before, the authors have demonstrated the multi-dimensionality and complexity of the Chinese society in postwar Singapore, which was full of vitality and politically active. They argue that the combination of the internal dynamism and the changing socio-political framework shaped the nature and characteristics of the Chinese community and its fundamental role in the making of modern Singapore. This study is essential reading for an understanding of not only the Chinese politics and business networks in postwar Singapore, but also the historical evolution of the newly independent Republic.
The past two decades have witnessed far-reaching socioeconomic and political changes in Asia, such as the growing intraregional flows of capital, goods, people, and knowledge, the rise of China as the world’s second largest economy, and its increasing influence in Southeast Asia, intensified US–China confrontations in the global arena, and the onslaught of the global Covid-19 pandemic. Focusing on multidimensional interactions (including geopolitical and economic relationships, diaspora engagement, and knowledge exchange) between China and Southeast Asia, this book argues that an interwoven perspective of the political economy, transnational governance, and regional networks serves as an effective analytical framework for deciphering these transformations as well as their global and theoretical implications. Drawing upon a wide range of primary data and engaging with the latest interdisciplinary scholarship on contemporary Asia, this book’s thought-provoking and nuanced analyses will appeal to scholars and students in Chinese and Southeast Asian studies, international political economy, international relationships, ethnic and migration studies, and public governance.
Rather than presenting another narrative of Singapore history, The Scripting of a National History: Singapore and Its Pasts studies the constructed nature of the history endorsed by the state, which blurs the distinction between what happened in the past, and how the state intends that past to be understood. The People's Action Party (PAP) government's unbroken mandate to rule has come in no small part from the way it explains its lineage and record to Singaporeans. The power vested in various aspects of Singapore's history is thus examined through a consideration of past and present politics. The authors trace state discourses on Singapore history from the decision immediately after independence to recognize the nineteenth-century British acquisition of the island as its founding moment, to the 1980s and 1990s when an essentially Confucian heritage was recognized under the rubric of "Asian values", and finally to an emphasis on the history of racial fragility and harmony in response to the threat of terrorism in the twenty-first century. Embedded within these discourses is the story of the PAP as the heir of the economic dynamics of the pax Britannica, as an exponent of the morality and righteousness of the Chinese scholar-gentleman, and as the firm hand that balances the interests of the majority Chinese against those of the minority populations, particularly the Malays. The authors examine the underlying template of Singapore history, the negotiation with its immigrant past, and the popularization of history through conscription of national heroes. The chapters range from considering how political leaders claim to be historians by virtue of being the makers of history, to the vicissitudes undergone by two originally private homes turned into symbols of Singapore's Chinese modernity. The Scripting of a National History: Singapore and Its Pasts is highly relevant not only to academics but also for the Singapore general reader interested to see what are meant to be received wisdoms for the citizenry interrogated in a well-reasoned and engaging exercise, as well as for an international readership to whom Singapore has become a fascinating enigma. They may well be intrigued by the anxieties of being Singaporean.
In Labor, Class Formation, and China's Informationized Policy of Economic Development, Yu Hong examines crucial connections between the evolving political economy of information and communications technology (ICT) and the reconstitution of class relations in China. Situating China's ICT development over the last thirty years at the intersection of transnational trends, domestic policies, and institutional arrangements, Hong shows how evolving class relations in the ICT sector are shaped by and shaping the transnational capitalist dynamics and domestic socio-economic transformations.
This monograph highlights the educational experiences of rural children who are 'left behind' by their migrant worker parents in China, analyzing how this situation impacts on their aspirations and self-identity. Via an ethnographic and qualitative case study of a rural school in southwest China, the author presents the real lives of these disadvantaged children along with their challenges and needs, and provides an in depth understanding of how being ‘left behind’ impacts on their future aspirations. Building on the sociological theories of Pierre Bourdieu, the author makes an original contribution by combining seemingly incompatible disciplinary perspectives, such as cultural capital from sociology, rational action from behavioral economics, and self-efficacy from psychology. Hence, the book endeavors to transfer these Western theories to an Eastern context and demonstrates cultural nuances that are not always captured when applied in the West. The book will attract academic scholars and postgraduate students in the area of socially disadvantaged children and young people as well as those who are working on youth studies and rural education.
The first biographical dictionary in any Western language devoted solely to Chinese women, Biographical Dictionary of Chinese Women is the product of years of research, translation, and writing by scores of China scholars from around the world. Volume II: Twentieth Century includes a far greater range of women than would have been previously possible because of the enormous amount of historical material and scholarly research that has become available recently. They include scientists, businesswomen, sportswomen, military officers, writers, scholars, revolutionary heroines, politicians, musicians, opera stars, film stars, artists, educators, nuns, and more.
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