You are looking at 1 - 10 of 12 items

  • Author or Editor: Gordon C.K. Cheung x
Clear All Modify Search
This content is available to you

Gordon C.K. Cheung

This content is available to you

Gordon C.K. Cheung

This content is available to you

Gordon C.K. Cheung

We need to understand China’s economic growth by looking at the empirical evidence. Much conventional wisdom, theories or ideas from the West may not be sufficient to explain China’s unique economic growth pattern. China is moving towards a deeper economic reform and undergoing major transformation of its economic policy. It is embarking on a market economy and also demonstrating some signs of reordering the world economic structure. The past four decades have witnessed the hyper-growth period. We will now see a move to moderate growth but with more emphasis on technology, innovation and creativity. In other words, quality growth is China’s economic future. Many people will not accept China’s rise under any circumstance. However, for those who take a more positive and cooperative attitude, China is certainly transforming, and more cooperation and interaction will lie ahead.

You do not have access to this content

Gordon C.K. Cheung

The economic development of East Asian countries, where China is our central focus, may be challenged, if not complicated, by three factors: the development of US policy toward East Asia, the degree of regional integration amongst East Asian countries, and the emerging economic influence of China. In the case of East Asia, many countries have become more economically advanced and the region is more willing to shoulder its own responsibility for its own interests. For East Asia, the message from China’s economic rise is that East Asian countries should keep working hard because they cannot free-ride on future US support and global responsibility. The world is moving towards self-help and the world is also becoming more interdependent if common interest can be obtained amongst like-minded countries.

You do not have access to this content

Gordon C.K. Cheung

The theoretical notion of hegemonic stability needs substantial improvement given that the current hegemon – the US – is increasingly less able to facilitate many functions that were taken for granted for decades. With the approach of a more interdependent and diversified global environment, international affairs are perhaps less suitable to be carried out by a single dominant power. The peaceful rise of China within the arena of foreign policy culminated with the unique nature of Chinese economic and social changes. However, these factors do not necessarily coincide with the established power relations in the East Asian region. China’s cultural past therefore has become more useful and increasingly will be exploited more extensively, as long as it fits the political dynamics and economic changes in East Asia.

You do not have access to this content

Gordon C.K. Cheung

China’s economic identity is moving from a developmental to an entrepreneurial spirit. China has been transforming and moving towards a market economy according to many observers, although the definition can be different from person to person. This chapter begins with a theoretical assessment on the relationship between technology and economic growth. It then examines the significance of the WTO and China’s economic integration with the world economy. If the Greater Pearl River Delta represents the previous developmental model of China, the new phase towards economic growth will focus on an entrepreneurial policy realized through science and technology, looking at examples such as the Suzhou Industrial Park and the e-commerce industries. The future economic identity of China is going to be more consolidated, and the global economy should be better prepared for that change.

You do not have access to this content

Gordon C.K. Cheung

China’s economic interest increasingly will be determined by the protection of IPRs. In connection with the new normal and a slower growth rate, China is moving towards a more mature economy with more emphasis on quality of growth. We have seen many new models of economic development linking high tech, innovation and IPRs protection. There is ample evidence that China is determined to create its own global brands and therefore IPRs protection has become imperative. This chapter will try to understand the legal area of IPRs protection in China and progress and future challenges. In addition, it will discuss the US’s and China’s IPRs disputes and further examine how and in what ways others can keep track of China’s IPRs development. Finally, this chapter aims to better understand China’s new economic strategies, with a view to investigating the role of innovation in connection with IPRs protection.

You do not have access to this content

Gordon C.K. Cheung

The 2008–9 global financial crisis became a catalyst of change for the increasing financial influence of Chinese money in the world economy. This chapter will first illustrate the meaning of globalization and international finance. Shanghai will be used as a case example to illustrate respective government policies for the creation of China’s own model of an international financial centre. Shanghai was an obvious choice for China to reinforce its global financial influence. However, as the second largest economy in the world, China’s financial footprint in the global economy is less obvious, especially as regards the internationalization of Chinese currency, the renminbi (RMB). Finally, this chapter will discuss the process, development and challenges of the internationalization of the RMB. We have already recognized China as ‘the factory of the world’. However, in order to further develop the RMB as the ‘money of the world’, there are many things to be considered and debated.

You do not have access to this content

Gordon C.K. Cheung

This chapter will first assess the global inequality created by the over-concentration of wealth through the confluence of tax havens, global finance and the creed of capitalism. Increasingly, many individuals are becoming more vulnerable and they need something equally big, such as sovereign wealth funds (SWFs), with which to fight back. This chapter will go on to illustrate in what areas Chinese SWFs should be able to focus in the future in order to help the world economy by narrowing the inequality gap. Finally, the chapter will look at China’s two grand investment strategies, the Belt and Road Initiative and the Asian Infrastructure Investment Bank, and will use the UK as an example with which to examine how Chinese investment is performing. These latest development and investment schemes will aid a better understanding of the long-term meaning and direction of Chinese entrepreneurship.

You do not have access to this content

Gordon C.K. Cheung

We are moving towards a multipolar world and China is a clear actor both working within but also redefining the rules. China has already shown a different type of model of economic development. We may need to begin to think more objectively to accept that there are different countries in the world developing in a direction more akin to their own pace of development. We may require a more inclusive, respectful, understanding mentality if globalization is actually something that we are striving for. China has shown both resistance and assimilation in its path of economic development without total subordination to the US-led world economy. With increased acceptance from the rest of the world, China can change even more and engage better with the global economy.