Rulin waishi (The Unofficial History of the Scholars) is more than a landmark in the history of the Chinese novel. This eighteenth-century work, which was deeply embedded in the intellectual and literary discourses of its time, challenges the reader to come to grips with the mid-Qing debates over ritual and ritualism, and the construction of history, narrative, and lyricism. Wu Jingzi’s (1701–54) ironic portrait of literati life was unprecedented in its comprehensive treatment of the degeneration of mores, the predicaments of official institutions, and the Confucian elite’s futile struggle to reassert moral and cultural authority. Like many of his fellow literati, Wu found the vernacular novel an expressive and malleable medium for discussing elite concerns. Through a close reading of Rulin waishi, Shang Wei seeks to answer such questions as What accounts for the literati’s enthusiasm for writing and reading novels? Does this enthusiasm bespeak a conscious effort to develop a community of critical discourse outside the official world? Why did literati authors eschew publication? What are the bases for their social and cultural criticisms? How far do their criticisms go, given the authors’ alleged Confucianism? And if literati authors were interested solely in recovering moral and cultural hegemony for their class, how can we explain the irony found in their works?
The Book of Lord Shang was probably compiled sometime between 359 and 338 BCE. Along with the Han Fei-Tzu, it is one of the two principal sources of Legalism, a school of Chinese political thought. Legalism asserts that human behavior must be controlled through written law, rather than ritual, custom or ethics, because people are innately selfish and ignorant. The law is not effective when it is based on goodness or virtue; it is effective when it compels obedience. This is essential to preserve the stability of the State. Reprint of Volume XVII in Probsthain's Oriental Series. With a Chinese index and an index of names and references. "The Book of Lord Shang or Shang-tzu is said to consist of 29 paragraphs, of which the text for nos. 16, 21, 27, 28 and 29 being no longer extant. The translation of Prof. Duyvendak therefore covers only twenty-four paragraphs and is based on an edition published by Yang Wan-li in 1793, which was reprinted by the Ch -chiang-shu-ch in 1876 in the "Collection of Twenty-two Philosophers." Of all the editions published before or after that date, this is the best known. (...) The Chinese text of the Book, like many other ancient writings, is obscure in some parts and corrupt in others. (...) The reviewer is therefore forcibly struck by the faithfulness, definiteness and clearness of Dr. Duyvendak's translation." --13 Chinese Soc. & Pol. Sci. Rev. 459-460, 462 1929. J.J.L. Duyvendak 1889-1954] was an interpreter for the Dutch embassy in Peking from 1912-1918. In 1919 he became a lecturer in Chinese at the University of Leiden. He was the author of China's Discovery of Africa; Lectures Given at the University of London on January 22 and 23, 1947 (1949) and edited and translated several works, including The Diary of His Excellency Ching-shan; Being a Chinese Account of the Boxer Troubles by Shan Jing (1924). He established the Sinological Institute at the University of Leiden in 1930. It is now one of the leading libraries for Chinese Studies in the Western world.
In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent literature on the experiences of developing countries with financial globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the pattern of capital inflows. We also discuss a number of other intriguing hypotheses that attempt to capture the "deeper" causes underlying China's approach to capital flows. In particular, we argue that some popular mercantilist-type arguments are inconsistent with the facts. We also analyze the recent rapid rise of China's international reserves and discuss its implications. Contrary to some popular perceptions, the dramatic surge in foreign exchange reserves since 2001 is mainly attributable to non-FDI capital inflows, rather than current account surpluses or FDI.
This paper examines the role of corruption in the design of monetary policies for developing countries in a framework of fiscal and monetary interaction and obtains several interesting results. First, pegged exchange rates, currency boards, or dollarization, while often prescribed as a solution to the problem of a lack of credibility for developing countries, is typically not credible in countries with serious corruption. Second, the optimal degree of conservatism for a Rogoff (1985)-type central banker is an inverse function of the corruption level. Third, either an optimally designed inflation target or an optimal-conservative central banker is preferable to an exchange rate peg, currency board, or dollarization.
China’s high corporate savings rate is commonly claimed to be a key driver for the country’s large current account surplus. The mainstream explanation for high corporate savings is a combination of windfall profits in state-owned firms, especially in resource sectors, and mis-governance of state-owned firms represented by their low dividend payout. The paper casts doubt on these views by comparing the savings of 1557 Chinese listed firms with those of 29330 listed firms from 51 other countries over 2002-07. First, Chinese firms do not have a significantly higher savings rate (as a share of total assets) than the global average because corporations in most countries have a high savings rate. The rising corporate savings rate is also consistent with a global trend. Second, there is no significant difference in the savings behavior and dividend patterns between Chinese majority state-owned and private listed firms, contrary to the received wisdom.
While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To minimize evasion of controls, countries often intensify inspections at the border and increase documentation requirements. Thus, the cost of conducting trade rises. The paper finds that a one standard-deviation increase in the controls on trade payment has the same negative effect on trade as an increase in tariff by about 14 percentage points. A one standard-deviation increase in the controls on FX transactions reduces trade by the same amount as a rise in tariff by 11 percentage points. Therefore, the collateral damage in terms of foregone trade is sizable.
This paper furnishes robust evidence that the GATT/WTO has had a powerful and positive impact on trade. The impact has, however, been uneven. GATT/WTO membership for industrial countries has been associated with a large increase in imports estimated at about 40 percent of world trade. The same has not been true for developing country members, although those that joined after the Uruguay Round have benefited from increased imports. Similarly, there have been asymmetric effects among sectors, with WTO membership associated with substantially greater imports in sectors where barriers are low. These results are consistent with the history and design of the institution, which presided over significant trade liberalization by the industrial countries except in sectors such as food and clothing; largely exempted developing countries from the obligations to liberalize under the principle of special and differential treatment; but attempted to redress the latter by imposing greater obligations on developing country members that joined after the Uruguay Round.
We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock prices was more severe for firms that are intrinsically more dependent on external finance for working capital. The volume of capital flows has no significant effect on the severity of the credit crunch. However, the composition of capital flows matters: pre-crisis exposure to non-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar results also hold surrounding the Lehman Brothers bankruptcy
The main focus of this book is the transport mechanics of sediment particles coated with microbial biofilm, which is called bio-sediment. The book also addresses the question of how to measure and simulate the considerable variation in the properties of natural sediment associated with microbial biofilm, ranging from the micro-scale surface morphology to the macro-scale sediment transport. Nowadays most studies to elucidate the mechanisms of sediment transport have concentrated on physical-chemical sediment properties, little work explicitly coupled sediment dynamics and the environmental effects under the influence of micro-ecosystem, thus leaving a serious gap in water and sediment sciences as well as water ecological research. With respect to physical-chemical sediment properties, this book has been undertaken to evaluate and quantify the effect of biological factors - biofilm on sediment transport mechanics. The chapters cover topics including development of bio-sediment and its properties; model of biofilm growth on sediment substratum; bedform and flow resistance of bio-sediment bed; incipient velocity and settling velocity of bio-sediment; bedload and suspended load transport for bio-sediment; numerical simulation of bio-sediment transport. Besides, the measurement technology, analysis method and expression approach introduced in this book combine the characteristics of hydraulic, environmental and microbial research, having more immediate innovation. This book will be of interest to researchers, managers, practitioners, policy and decision makers, international institutions, governmental and non-governmental organizations, educators, as well as graduate and undergraduate students in the field of hydraulics and river dynamics. It will help to understand the relevance of sediment transport and biofilm growth under the role of aqueous micro-ecosystem, to introduce better tools for the simulation and prediction of bio-sediment transport, and to provide a scientific basis and application foundation for the research of interaction between sediment particles and ecological and environmental factors.
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