Archive

Author Archive
  • Podcast #65 – Philanthropy in China

    Related Posts

    • 10000
      #65 - Philanthropy in China: New Era, New Challenges, New Strategiesevent #65, Monday, December 18th, 2017   SPEAKERS HUANG Haoming 黄浩明, Vice-Chairman and Executive Director, China Association for NGO Cooperation ZHAO Chen 赵晨, Deputy Director, Child Development Center, China Development Research Center ZHANG Shantong 章善桐, Project Officer, Sany Foundation   The evolution of China’s philanthropy and non-profit space has seen…
      Tags: china, philanthropy
    • 67
      Tags: china, podcast


    Read more...
  • Podcast #64 – The Souls of China

    Related Posts

    • 10000
      #64 - The Souls of China - The Return of Religion after Mao  event #64 - Tuesday, December 5th, 2017   SPEAKERS Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   The Souls of China: The Return of Religion After…
      Tags: china, souls
    • 10000
      #64 - Event Report - The Souls of China: The Return of Religion after Mao  SPEAKERS Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   As we gathered for our December event at The Bridge, the theme for it was the recent…
      Tags: china
    • 10000
      Ian JOHNSON  Ian JOHNSON Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker   IAN JOHNSON is a Pulitzer-Prize winning writer focusing on society, religion, and history. He works out of Beijing, where he also teaches undergraduate classes.   Johnson has spent nearly twenty years in…
      Tags: china, souls
    • 10000
      CHEN Xia  CHEN Xia 陈霞 Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   Dr. Chen Xia is a research fellow at the Institute of Philosophy, Chinese Academy of Social Sciences (CASS) in Beijing. She received her Ph.D in Religious Studies from Sichuan University. After graduation, she taught at Sichuan…


    Read more...
  • #65 – Philanthropy in China: New Era, New Challenges, New Strategies

    event #65, Monday, December 18th, 2017

     

    SPEAKERS

    HUANG Haoming 黄浩明, Vice-Chairman and Executive Director, China Association for NGO Cooperation

    ZHAO Chen 赵晨, Deputy Director, Child Development Center, China Development Research Center

    ZHANG Shantong 章善桐, Project Officer, Sany Foundation

     

    The evolution of China’s philanthropy and non-profit space has seen a significant acceleration in recent years. The new legal blueprint, put in place with the 2016 Charity Law, is seen as an opportunity that could provide regulatory clarity, increase public trust, and move the sector forward.

     

    Today, the proactive role of philanthropists and foundations is growing in both weight and sophistication. New technologies and the role of social media may help charitable activities in raising funds, expanding their outreach, as well as enhancing effectivity in promoting shared social goals.

     

    At the same time, improving living standards, and the growing affluence in urban areas, are boosting awareness towards issues like poverty alleviation, healthcare, environment, and education in rural areas.

     

    Amid these evolving trends, we want to make sense together, by asking the experts, of the milestones that shaped the sector, the current trends and, in particular, what does the future of China’s charitable sector looks like.

     

    For this event we have partnered up with China Global Philanthropy Institute, a project supported by five Chinese and US philanthropists, committed to building a knowledge system supporting the highly development of philanthropy in China and the world.

     

    We will be hosted for the second time this year by 3ESPACE, the flagship project of SANY Foundation, a private foundation focused on fostering Chinese education, innovation, public health, and economic development.

     

    The after event refreshments will be provided by Bread of Life Bakery, a non-profit organization run by physically disabled young adults who have grown up in orphanages in China.

     

     

     

    LOCATION

     

     

    3ESPACE is located at the crossroad of Gulou Dongdajie and Jiaodaokou Nandajie, at the 5th floor of the Xinhua Wenhua building.

    Address: 北京市东城区交道口南大街15号新华文化大厦5层

    The closest subway station is Andingmen, then walk for ten minutes towards south, along Andingmen Neidajie.

     

     

     

    SalvaSalva

    SalvaSalva

    SalvaSalvaSalvaSalva

    SalvaSalvaSalvaSalva

    SalvaSalva

    SalvaSalvaSalvaSalva

    SalvaSalva

    SalvaSalva

    Related Posts

    • 10000
      HUANG Haoming  HUANG Haoming 黄浩明 Vice-Chairman and Executive Director, China Association for NGO Cooperation   Huang became a senior engineer in 1994. Huang received his Master of Public Policy & Management from Carnegie Mellon University, USA in 1995. He is also an adjunct professor of NGO Research Center, Tsinghua University and adjunct…
      Tags: china, development, public, non-profit, chinese, center, director, foundation
    • 10000
      #65 - Event Report - Philanthropy in China: New Era, New Challenges, New Strategies  SPEAKERS HUANG Haoming 黄浩明, Vice-Chairman and Executive Director, China Association for NGO Cooperation ZHAO Chen 赵晨, Deputy Director, Child Development Center, China Development Research Center ZHANG Shantong 章善桐, Project Officer, Sany Foundation   For the last event of the Fall Season 2017, ThinkIN China gathered for the second time…
      Tags: china, social, foundation, development, public, philanthropy
    • 10000
      Tags: china, philanthropy


    Read more...
  • HUANG Haoming

     

    HUANG Haoming 黄浩明

    Vice-Chairman and Executive Director, China Association for NGO Cooperation

     

    Huang became a senior engineer in 1994. Huang received his Master of Public Policy & Management from Carnegie Mellon University, USA in 1995. He is also an adjunct professor of NGO Research Center, Tsinghua University and adjunct professor of the school of public policy and management, Beijing University of Aeronautics & Astronautics. Other associate positions: member of the board of directors of Asian NGO Coalition for Agrarian Reform and Rural Development (ANGOC); member of the board of directors of China Foundation for Poverty Alleviation; member of the board of directors of China Association of International Trade; member of Western Returned Scholars Association; executive member of Council of China Reform Forum and member of the China National Committee for Pacific Economic Cooperation, Human Resources Development Sub-Committee. His publications include Strategy planning for Non-profit organization (2003), Cooperation and communication between Chinese and Foreign NGOs (2001), Practice and Management for International NGOs cooperation (2000).

     


    Read more...
  • #64 – Event Report – The Souls of China: The Return of Religion after Mao

     

    SPEAKERS

    Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker

    CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences

     

    As we gathered for our December event at The Bridge, the theme for it was the recent spiritual (re)awakening in China. From the first time Ian Johnson came to China in the 1980s until today, he noticed the changing landscape regarding how Chinese people related to temples, praying and religion in general. In the 1980s, temples in China were abandoned, destroyed, or used for different purposes. “The Souls of China”, through covering five religious groups in China, discusses the return of cultural and religious practices in the country in the 21st century. In search for moral guidance, new religious groups have been appearing. The process happened spontaneously, with people starting to donate and contribute to the rebuilding of temples.

     

    Although the perception at first was that it was part of the relation between communism and religion, the disappearing of religious life started with the intellectual elite during the 100 years of humiliation and the movements that led to the republic. It was seen as necessary to go after the role of the political influence of religion, especially in rural villages, in order to find modernization. It continued under the Kuomintang, as some religious habits were allowed and others forbidden. Soon, communal activities of spiritual Chinese life – folk culture – became “superstition”. The Cultural Revolution was the final blow in a long process of shutting down the role of religion in China. Only in 1982, it would return to be seen as a positive cultural heritage.

     

     

    The return of spiritualism that surged in China now is also part of a movement that happened around the world, as many societies saw themselves facing a “crisis of modernity”. Triggered by a feeling of spiritual vacuum (what are the ideas that hold us together as a society?) and encouraged through social media interaction, a national debate started over values and morality. The groups all unite in search of a sense of community that seemed to have been lost in many of Chinese largest cities, particularly for migrants.

     

    Chen Xia emphasized the dramatic changes of the last twenty years, particularly in the academia – where religious studies was largely non-existent. She also emphasized how religion has helped with the transitions and transformation of Chinese society. Johnson later added how religion has been helping to explain how to respond to certain situations and guide attitudes. Later on, Chen added how Confucianism has been central to discussing heaven and behavior, but when China became a nation-state, it has been difficult to transition those habits to legislation. Thus, today and for the future of Chinese society, it is necessary also to engage Confucianism and written laws in a conversation.

     

     

     

    The Chinese government hasn’t been ignoring this, and thus, abandoned the discourse of superstition, embracing these practices and offering subsidies to cover basic costs of religious groups. During the Q&A, Chen emphasized how the government has worked along with religious communities  to create a cooperation between religion and socialism – in the hopes of building a more harmonious society.. Although concern was raised over the role of government administration and management over these religions, they are allowed to exist and practice – as long as they support the leadership  of the CCP.

     

    However, Johnson pointed out that the main concern of the people involved in these religious associations is how to both honor the past and pass it down to the next generation. It was also raised as an important point of the Chinese identity and modern discussions on this issue. Some younger Chinese attendees reaffirmed how religion was very interesting, but they didn’t feel very connected in a personal level – although didn’t consider it so far from their lives. It is part of the connection between the culture of ancient China and thus, it builds a bridge with older generations.

     

     

    Report written by Julia Rosa

     

     

    SalvaSalva

    SalvaSalva

    SalvaSalva

    Related Posts

    • 10000
      #64 - The Souls of China - The Return of Religion after Mao  event #64 - Tuesday, December 5th, 2017   SPEAKERS Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   The Souls of China: The Return of Religion After…
      Tags: china, chinese, religion, chen, johnson, return, government, groups, salvasalva, spiritual
    • 10000
      Ian JOHNSON  Ian JOHNSON Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker   IAN JOHNSON is a Pulitzer-Prize winning writer focusing on society, religion, and history. He works out of Beijing, where he also teaches undergraduate classes.   Johnson has spent nearly twenty years in…
      Tags: china, johnson, society, religion, religious, return, chinese
    • 10000
      CHEN Xia  CHEN Xia 陈霞 Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   Dr. Chen Xia is a research fellow at the Institute of Philosophy, Chinese Academy of Social Sciences (CASS) in Beijing. She received her Ph.D in Religious Studies from Sichuan University. After graduation, she taught at Sichuan…
      Tags: chinese, chen, religious


    Read more...
  • #64 – The Souls of China – The Return of Religion after Mao

     

    event #64 – Tuesday, December 5th, 2017

     

    SPEAKERS

    Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker

    CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences

     

    The Souls of China: The Return of Religion After Mao (2017) tells the story of one of the world’s great spiritual revivals. Following a century of violent anti-religious campaigns, China is now filled with new temples, churches and mosques–as well as cults, sects and politicians trying to harness religion for their own ends. Driving this explosion of faith is uncertainty — over what it means to be Chinese, and how to live an ethical life in a country that discarded traditional morality a century ago and is still searching for new guideposts.

     

    This book is the culmination of a six-year project following an underground Protestant church in Chengdu, pilgrims in Beijing, rural Daoist priests in Shanxi, and meditation groups in caves in the country’s south.

     

     

    Along the way, Ian Johnson learned esoteric meditation techniques, visited a nonagenarian Confucian sage, and befriended government propagandists as they fashioned a remarkable embrace of traditional values. These experiences are distilled into a cycle of festivals, births, deaths, detentions, and struggle–a great awakening of faith that is shaping the soul of the world’s newest superpower.

     

    Join ThinkIN China for a new discussion about Johnson’s recently released book, together with Dr. Chen Xia, a research fellow at the Chinese Academy of Social Sciences in Beijing, where she studies religions in China and Chinese philosophy.

     

    Watch the book trailer on YouTube

    Read the reviews about the book

     

     

     

     

    SalvaSalva

    Related Posts

    • 10000
      Ian JOHNSON  Ian JOHNSON Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker   IAN JOHNSON is a Pulitzer-Prize winning writer focusing on society, religion, and history. He works out of Beijing, where he also teaches undergraduate classes.   Johnson has spent nearly twenty years in…
      Tags: china, johnson, york, religion, beijing, ian, books, pulitzer-prize, winning, yorker
    • 10000
      CHEN Xia  CHEN Xia 陈霞 Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   Dr. Chen Xia is a research fellow at the Institute of Philosophy, Chinese Academy of Social Sciences (CASS) in Beijing. She received her Ph.D in Religious Studies from Sichuan University. After graduation, she taught at Sichuan…
      Tags: chinese, philosophy, studies, book, daoist, chen, religions, academy, institute, xia


    Read more...
  • CHEN Xia

     

    CHEN Xia 陈霞

    Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences

     

    Dr. Chen Xia is a research fellow at the Institute of Philosophy, Chinese Academy of Social Sciences (CASS) in Beijing. She received her Ph.D in Religious Studies from Sichuan University. After graduation, she taught at Sichuan University for 10 years. Then she conducted a post-doctoral research in Chinese philosophy at CASS and moved to this research academy in 2003. During these years, she has been a visiting scholar at Harvard-Yenching Institute, at SOAS, and a Fulbright Visiting Scholar at Brown University. Her specialty is Religions in China and Chinese Philosophy, concentrating on Daoism.

    She is the co-chief editor of Principles in the Study of Religions. This book is used widely as a text book for students in their studies of theories and methods in Religious Studies. Her book Studies of Daoist Moral Tracts focuses on Daoist ethics and moralities from Song dynasty (960-1279) till Qing dynasty (1636-1911). In recent years, she has been paying more and more attention to ecology, and is the chief editor and contributor of Studies of Daoist Ecological Thoughts. Besides doing research, she is also involved in the translation of books from Chinese to English and from English to Chinese. She is one of the translators for books like Daoism and Traditional Chinese Culture (Chinese to English), while from English to Chinese, she helped in translating Martin Luther’s Theological Thoughts, Man’s Religions and Daoism and Ecology. Her new book Introduction to Daoist Philosophy will come out in December 2017.

     

     

    Related Posts

    • 10000
      #64 - The Souls of China - The Return of Religion after Mao  event #64 - Tuesday, December 5th, 2017   SPEAKERS Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   The Souls of China: The Return of Religion After…
      Tags: book, chinese, academy, philosophy, fellow, social, chen, sciences, xia, daoist
    • 10000
      #64 - Event Report - The Souls of China: The Return of Religion after Mao  SPEAKERS Ian JOHNSON, Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker CHEN Xia 陈霞, Research Fellow, Institute of Philosophy, Chinese Academy of Social Sciences   As we gathered for our December event at The Bridge, the theme for it was the recent…
      Tags: religious, chinese, chen


    Read more...
  • Ian JOHNSON

     

    Ian JOHNSON

    Pulitzer-Prize winning journalist, writing for the New York Times, The New York Review of Books, the New Yorker

     

    IAN JOHNSON is a Pulitzer-Prize winning writer focusing on society, religion, and history. He works out of Beijing, where he also teaches undergraduate classes.

     

    Johnson has spent nearly twenty years in the Greater China region, first as a student in Beijing from 1984 to 1985, and then in Taipei from 1986 to 1988. He later worked as a newspaper correspondent in China, from 1994 to 1996 with Baltimore’s The Sun, and from 1997 to 2001 with The Wall Street Journal, where he covered macro economics, China’s WTO accession and social issues

     

    In 2009, Johnson returned to China, where he writes features and essays for The New York TimesThe New York Review of Books, as well as other publications, such as The New Yorker and National Geographic. He teaches undergraduates at The Beijing Center for Chinese Studies, where he also runs a fellowship program. In addition, he formally advises a variety of academic journals and think tanks on China, such as the Journal of Asian Studiesthe Berlin-based think tank Merics, and New York University’s Center for Religion and Media.

     

    He was twice nominated for the Pulitzer Prize and won in 2001 for his coverage of China. He also won two awards from the Overseas Press Club, and an award from the Society of Professional Journalists. In 2017, he won Stanford University’s Shorenstein Journalism Award for his body of work covering Asia.

     

    In 2006-07 he spent a year as a Nieman fellow at Harvard, and later received research and writing grants from the Open Society Foundation, the Pulitzer Center on Crisis Reporting, and the Alicia Patterson Foundation.

     

    Johnson has published three books and contributed chapters to three others. His newest book, The Souls of China: The Return of Religion After Maodescribes China’s religious revival and its implications for politics and society.

     

    Learn more on his official website.

     

     


    Read more...
  • #63 Event Report – China’s Economy in the New Era

     

    SPEAKER

    Michael PETTISNonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University

     

    The season’s second event hosted one of the most brilliant analysts of China’s economy, and financial markets in particular. Michael Pettis’ presence at The Bridge had been on the agenda for a while, and the audience was enthusiastic to hear his perspectives on the future of Chinese economic reforms after the Nineteenth Party Congress.

     

    Pettis’ goal was to set China’s economy in context, making sense of its past growth model in order to identify future trends. In fact, according to Pettis, the Chinese case is not exceptional, thus we are able to make economic forecasts based on economic history. Pettis identified four separate phases characterizing China’s economic growth up to the present:

     

    Deng Xiaoping’s liberalizing reforms: eliminating constraints

     

    In the 1970s, the Chinese economy was in very serious trouble. Starting from 1978, Deng Xiaoping managed to realize China’s economic liberalization in spite of tremendous institutional constraints and elite opposition to his reforms, proving himself as ‘one of the greatest leaders of the twenty-first century.’ In fact, history has shown that such type of liberalizing reforms only occurs successfully – without causing a significant regime change – in two cases: democracies, and highly centralized autocracies such as China. In Pettis’ view, centralization of power in the 1980s paved the way for China’s growth miracle. Deng’s historic 1992 tour to southern provinces, which relaunched economic reforms after a period of stall, was precisely aimed at tackling resistance to his policies by existing elites.

     

    Gerschenkron’s Model in China: an investment-driven miracle

     

    Pettis argued that eliminating constraints is only the first step to realize liberalizing reforms. The second step, followed by many developing economies around the world, is the so-called investment-driven economic miracle known as the Gerschenkron’s Model, from the name of the economist Alexander Gerschenkron. In sum, developing countries tend to have low savings rates, thus some of them rely on foreign capital to fund their economic growth. However, given the significant risks associated with foreign capital, these countries have the alternative to force up savings rates in order to convert domestic savings into sufficient investments to fuel growth. The way to do this is simply to contract consumption rates by reducing households’ share of GDP, which will obviously limit their ability to spend money in the market.

     

    According to Pettis, the fact that China has arguably the lowest households’ income share of GDP ever recorded, which corresponds to the highest savings rates in the world, cannot be explained by Chinese families’ innate preference for saving money, a popular myth about China; rather, it was caused by a precise government design that ensured indirect and systematic wealth transfers away from households and towards the government and businesses. These transfers were accomplished through a combination of currency manipulation, low wage growth relative to productivity, and negative interest rates. Subsequently, the Chinese government directed this wealth into short-term infrastructure investments. China forced savings into investments at the highest rate ever seen in history, successfully realizing an investment-driven miracle at a time when the country needed it the most.

     

    The core of China’s structural problems: over-investment and unsustainable debt

     

    Pettis continued by referring to the concept of ‘optimal capital level’, which implies that each country has its own level of investment – depending on a set of institutions such as legal, financial, educational, and political – determining the rate at which workers are able to use resources productively. Beyond this limit, injecting capital into the economy ceases to be productive and becomes inefficient, unless further institutional reforms are implemented.

     

    China has passed this critical point: additional investments in unutilised infrastructure facilities, and redundant production capacity in traditional manufacturing sectors, are bringing more costs than value to the economy. Pettis identified this as the core of China’s structural problems: China invests too much, fueling an unsustainable increase in debt. In his view, every country that experienced an investment-driven boom encountered this conundrum, in parallel with the emergence of very powerful constituencies who oppose any change to the existing system. This is where China stands today at the beginning of Xi Jinping’s second mandate.

     

    The trajectory of economic rebalancing

     

    In order to reverse this unsustainable cycle of unproductive investment and debt, China urgently needs to switch off this engine, silencing opposition from powerful elites before it can start implementing an ambitious set of institutional liberalizing reforms. Pettis suggested two necessary steps. First, drastically re-centralizing power, after the wave of political reforms that decentralized economic policy making starting from the late 1990s. An example is the attempt to bring the extremely decentralized banking system back under the central government’s control. Second, addressing the debt problem, in its two interconnected dimensions of flow of debt and stock of debt.

     

    The flow of debt is the mechanism that allows Chinese debt to rise at the fastest rate ever seen in history. The reason behind such rapid increase in debt is that households’ consumption is extremely low, therefore investment is misallocated towards sectors of the economy which are no longer productive: simply put, the government artificially creates demand in order to keep the manufacturing sector producing at current levels, guaranteeing employment. To reduce investment while containing unemployment, consumption must be stimulated, which requires raising households’ share of GDP at the expense of elites and local governments, the main beneficiaries of the current growth model. Unfortunately, after former Premier Wen Jiabao officially acknowledged the serious imbalances of China’s economy, the situation worsened considerably between 2007 and 2012. It is no coincidence that by the end of 2000s Chinese media began discussing the issue of vested interests: these groups became vocal as the government expressed the intention to rebalance the economy by transferring more wealth to households.

     

    Pettis proceeded by discussing the issue of the stock of debt. China’s amount of debt is unsustainable for a developing country because it constraints growth. Pettis suggested that China assigns the cost of debt to the only economic sector which is able to pay for it: the government. Traditionally, households are secretly forced to bear the cost of debt through taxation, as happened during banking crisis in the U.S. and Europe. Indeed, China also forced households to bear the costs of the banking reform in the 2000s: unsurprisingly, consumption dropped from an already low 46 percent of GDP in the year 2000, to 35 percent in 2008. Making Chinese families pay for the debt is clearly unfeasible. Assigning this task to small and medium enterprises is also risky: Pettis noted their political vulnerability, as well as their pivotal role for future economic growth in China.

     

    Only the government has the resources to pay for the debt: according to a recent study by Thomas Piketty et al., cited by Pettis, it has a considerable net position as a percentage of GDP, much higher than most countries: this means it can liquidate assets and use the proceeds to pay down debt and increase households’ share of GDP. Again, this implies wealth transfers from local governments to ordinary Chinese. According to Pettis, the Nineteenth Party Congress has shown political willingness to do so, but given tremendous elite opposition it is hard to predict whether these reforms will be implemented. What is sure, readjustment will come at huge costs if it is to be successful: countries that go through this process normally experience an extremely difficult transition.

     

    In what Pettis described as the ideal rebalancing scenario, China has no choice but to revise its unfeasible GDP growth target and set it at around 2 to 3 percent, while ensuring that households’ incomes grow by 4.5 to 5 percent. In this way, local governments would pay for the debt by liquidating their assets, while growth would decelerate without causing social turmoil. According to Pettis, the government has already been trying to adopt this strategy: whether Xi Jinping has consolidated its power enough to successfully do this will only be seen when such reforms begin.

     

    The Q&A session touched upon many interesting issues. For instance, the lack of hard budgetary constraints, which allows the government to reach virtually any GDP target by way of unprofitable bank loans to corporations and local governments: in Pettis’ view, GDP in China is not so much an ‘output’ but rather an ‘input’, decided by the government and achieved through distortions in production capacity. Another talking point concerned the ways localities can liquidate their assets: while selling real estate could make the banking system collapse, some provinces and municipalities are experimenting different strategies, such as wealth transfers to workers and pension funds. In conclusion, the political momentum seems to be there, but this does not imply that a smooth readjustment is on the horizon.

     

    For further reference, Pettis, Michael. The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy. Princeton University Press, 2014.

     

    Report written by Rebecca Arcesati

     

    Related Posts

    • 10000
      #63 - China's Economy in the New Era  event #63 - Monday, November 6th, 2017   SPEAKER Michael PETTIS, Nonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University             SalvaSalva
      Tags: economy, pettis
    • 10000
      Michael PETTIS  Michael PETTIS Nonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University   MICHAEL PETTIS is a nonresident senior fellow in the Carnegie Asia Program based in Beijing, where he edits China Financial Markets, a monthly analysis on income inequality, market…
      Tags: pettis, china, debt, economy


    Read more...
  • #63 – China’s Economy in the New Era

     

    event #63 – Monday, November 6th, 2017

     

    SPEAKER

    Michael PETTISNonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University

     

     

     

     

     

     

    SalvaSalva

    Related Posts

    • 10000
      Michael PETTIS  Michael PETTIS Nonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University   MICHAEL PETTIS is a nonresident senior fellow in the Carnegie Asia Program based in Beijing, where he edits China Financial Markets, a monthly analysis on income inequality, market…
      Tags: pettis, university, school, management, finance, michael, international, peking, senior, economy
    • 10000
      #63 Event Report - China's Economy in the New Era  SPEAKER Michael PETTIS, Nonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University   The season’s second event hosted one of the most brilliant analysts of China’s economy, and financial markets in particular. Michael Pettis’ presence at The Bridge had been…
      Tags: pettis, economy
    • 64
      #46 - The (un)bearable lightness of finance: stock market volatility in China    event #46, Tuesday, September 22nd, 2015 Speaker JIANG Guohua 姜国华, Professor of Guanghua School of Management and Associate Dean of the Peking University Graduate School   ABSTRACT "Emerging from a planned/state-controlled economy and after the economic reform and open door policy of 1978, China launched its stock market in 1990.…
      Tags: school, guanghua, peking, university, management, international, professor, event, economy, finance
    • 60
      May 27th, 2015 Bridge Cafè (Wudaokou) Speaker Prof. LIU Qiao, Professor of Finance, Associate Dean, Guanghua School of Management, Peking University   Presentation China has been one of the major countries that has been able to overcome the pain of  the 2008 global financial crisis faster. Not only that, it…
      Tags: finance, economy


    Read more...
  • Michael PETTIS

     

    Michael PETTIS

    Nonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University

     

    MICHAEL PETTIS is a nonresident senior fellow in the Carnegie Asia Program based in Beijing, where he edits China Financial Markets, a monthly analysis on income inequality, market structures, and other issues affecting China and other global economies. An expert on China’s economy, Pettis is professor of finance at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets.

     

    From 2002 to 2004, he also taught at Tsinghua University’s School of Economics and Management and, from 1992 to 2001, at Columbia University’s Graduate School of Business. He is a member of the Institute of Latin American Studies Advisory Board at Columbia University as well as the Dean’s Advisory Board at the School of Public and International Affairs.

     

    Pettis worked on Wall Street in trading, capital markets, and corporate finance since 1987, when he joined the sovereign debt trading team at Manufacturers Hanover (now JPMorgan). Most recently, from 1996 to 2001, Pettis worked at Bear Stearns, where he was managing director principal heading the Latin American capital markets and the liability management groups. He has also worked as a partner in a merchant-banking boutique that specialized in securitizing Latin American assets and at Credit Suisse First Boston, where he headed the emerging markets trading team.

     

    In addition to trading and capital markets, Pettis has been involved in sovereign advisory work, including for the Mexican government on the privatization of its banking system, the Republic of Macedonia on the restructuring of its international bank debt, and the South Korean Ministry of Finance on the restructuring of the country’s commercial bank debt.

     

    He formerly served as a member of the Board of Directors of ABC-CA Fund Management Company, a Sino–French joint venture based in Shanghai. He is the author of several books, including The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy (Princeton University Press, 2013).

     

    Related Posts

    • 10000
      #63 - China's Economy in the New Era  event #63 - Monday, November 6th, 2017   SPEAKER Michael PETTIS, Nonresident Senior Fellow, Asia Program, Carnegie Endowment for International Peace; Professor of Finance, Guanghua School of Management, Peking University             SalvaSalva
      Tags: professor, international, carnegie, finance, guanghua, university, peking, management, school, program
    • 60
      #46 - The (un)bearable lightness of finance: stock market volatility in China    event #46, Tuesday, September 22nd, 2015 Speaker JIANG Guohua 姜国华, Professor of Guanghua School of Management and Associate Dean of the Peking University Graduate School   ABSTRACT "Emerging from a planned/state-controlled economy and after the economic reform and open door policy of 1978, China launched its stock market in 1990.…
      Tags: china, school, guanghua, peking, university, management, international, professor, capital, including


    Read more...
  • #62 – Event Report – The Beijing Consensus in Xi’s second mandate

     

    SPEAKER

    CUI Zhiyuan 崔之元, Professor, School of Public Policy and Management, Tsinghua University

     

    At the start of a new season, ThinkIN China (TIC) is delighted to have hosted over 150 young scholars for the new season´s opening event on September 22nd at Wudaokou´s Bridge Café.

    TIC was honoured to present Professor Cui Zhiyuan as the evening´s speaker who explored the origin, evolution, implications and impact of the concept of the Beijing Consensus.

    Professor Cui is known as one of the fathers of China´s so-called New Left and the concept of the Beijing Consensus itself.

     

    Cui began his talk by describing the evolution of the concept of Beijing Consensus: The term was first established by Joshua Ramo in cooperation with Cui Zhiyuan himself as a result of Ramo’s social inquiry among 100 Chinese policy makers and intellectuals. Although the explicit term never fell during these interviews, Ramo thinks the idea of a “Beijing Consensus” clearly summarized their outcome.

    Cui proceeded by describing how the Beijing consensus as a concept has evolved into the so-called “Chinese Way”, becoming a more official slogan as well as a political term recognized even by President Xi Jinping.

    He himself would never have expected this idea of Ramo’s to become an official political term, Cui added.

     

    The Beijing Consensus vs. the Washington Consensus

    Ramo contrasted the Beijing Consensus with the Washington Consensus. He considered some elements of Washington consensus to be good, but inapplicable to the Chinese context.

    Whereas the Washington consensus lays focus on privatization, the Beijing consensus emphasizes experimentation.

    The Beijing Consensus is a more philosophical, pragmatic view that led Deng Xiaoping´s reforms in 1978 and has its roots in modern China, its three main points being:

    • Commitment to Innovation and Experimentation
    • Commitment to equity (GDP being an insufficient measure of progress)
    • Commitment to self-determination in international relations rather than domination.

     

    The theory behind the Beijing Consensus and its historic roots

    In order to shed light on the Chinese dimension of the Beijing Consensus, Cui went back and explored its historic origins. Pragmatism – the theory behind the Beijing Consensus – refers to an American political philosophy first introduced by Peirce and Dewey in the late 19th century. This theory emphasizes the consequences of social and political interaction. According to this theory, policy can´t ignore the reality of social conditions, but has to make it the basis of all political decisions.

    The influence of pragmatism in Chinese politics traces back as far as 1919 when Dewey first visited China and came in contact with almost all key political and intellectual figures in China at the time, amongst them Sun Yat-Sen and young Mao Zedong. Cui went on to illustrate the pragmatic elements in Mao Zedong thought and policy, such as the “From point to surface” 由点到面 (youdiandaomian) working method.

    Chinese pragmatism embraces the main idea of the original theory of pragmatism:  the emphasize on experimentation and adjustment to the social conditions. Since Deng Xiaoping´s reforms, Chinese pragmatism has exclusively revolved around experimentation, leaving aside the requirement of democracy, the core of the original theory.

     

    The practical implementation of the pragmatic approach

    In practice, experimentalism in today´s China is more successful in policy areas related to economic growth than in policy areas related to social innovation and social protection.

    But, as Cui went on, even where experimentalism is successful, its evaluation and its “peer review” is under-developed, resulting in a lack of “reflexively monitoring of its own effectiveness” (Jack Knight and James Johnson, “The Priority of Democracy”, p.216).

    As a conclusion, Professor Cui described the pragmatic approach of the Beijing Consensus as flexible and partly successful, but still truncated and facing lots of problems and failures.

    The Chinese pragmatic approach gave rise to a vibrant discussion during the Q&A-session: Where can this pragmatism be found in major international economic initiatives such as the Belt and Road Initiative? Can pragmatism resolve the issue of lacking incentive for political reform? And – what Cui called the key question: How can pragmatism be sustained without a democratic political basis? There is no denial of the persistence of censorship and self-censorship in China, as Cui put it, but he emphasized that democracy had indeed made progress in China.

     

    What to expect from Xi´s second term?

    The topic of Xi Jinping´s second mandate was touched upon during the Q&A-session, as Professor Cui was asked about his expectations for Xi´s second term with respect to what had been decided on the third plenum of the 18th party congress: the plan of giving the market force a decisive role in resources allocation and the decision for comprehensive reform of governance system and capacity.

    Cui considered the change of a single word to be significant: The 16th and 17th party congress had already decided to give market force a fundamental role in resources allocation. This change from “fundamental” to “decisive” suggests a stronger emphasize on the role of market force in the process of resource allocation.

    Moreover, Cui considered the distinction of governance system and governance capacity to be particularly striking, as it implies that there can be different levels of capacity under the same governance system. In Cui´s view, this may open a whole range of possibilities for reform in marginal areas in order to increase governance capacity which in turn might even lead to marginal reform in the political sphere.

     

    Find here the ppt used by professor Cui during his presentation.

     

    Report written by Theresa Stubhan

     

     

    Related Posts

    • 10000
      #62 - The Beijing Consensus in Xi's Second Mandateevent #62 - Monday, September 25th, 2017   SPEAKER CUI Zhiyuan 崔之元, Professor, School of Public Policy and Management, Tsinghua University.     ThinkINchina is back with the new Fall Season and honored to welcome professor Cui Zhiyuan, leading member of the Chinese New Left and the first person that introduced…
      Tags: cui, chinese, beijing, professor, policy, consensus
    • 10000
      CUI Zhiyuan  CUI Zhiyuan 崔之元 Professor, School of Public Policy and Management, Tsinghua University   Cui Zhiyuan teaches Public Policy Analysis and Comparative Politics and Government at the School of Public Policy and Management of Tsinghua University. As a graduate of China's National University of Defense Technology, Cui went on to…
      Tags: cui, policy


    Read more...
  • CUI Zhiyuan

     

    CUI Zhiyuan 崔之元

    Professor, School of Public Policy and Management, Tsinghua University

     

    Cui Zhiyuan teaches Public Policy Analysis and Comparative Politics and Government at the School of Public Policy and Management of Tsinghua University. As a graduate of China’s National University of Defense Technology, Cui went on to obtain both an MA and a Ph.D. in Political Science from the University of Chicago. He has been awarded visiting fellowships and instructor positions at various world-renowned institutions including MIT, the National University of Singapore, Harvard University Law School, the Institute for Advanced Study in Berlin, and Cornell University. Dr. Cui has also served as a member of a number of editorial boards for various journals and publications.

     

    Learn more about his projects and publications on his personal website

     

    Related Posts

    • 10000
      #62 - The Beijing Consensus in Xi's Second Mandateevent #62 - Monday, September 25th, 2017   SPEAKER CUI Zhiyuan 崔之元, Professor, School of Public Policy and Management, Tsinghua University.     ThinkINchina is back with the new Fall Season and honored to welcome professor Cui Zhiyuan, leading member of the Chinese New Left and the first person that introduced…
      Tags: cui, zhiyuan, policy, university, tsinghua, management, public, school


    Read more...
  • #62 – The Beijing Consensus in Xi’s Second Mandate

    event #62 – Monday, September 25th, 2017

     

    SPEAKER

    CUI Zhiyuan 崔之元, Professor, School of Public Policy and Management, Tsinghua University.

     

     

    ThinkINchina is back with the new Fall Season and honored to welcome professor Cui Zhiyuan, leading member of the Chinese New Left and the first person that introduced the concept of “Beijing Consensus” into the Chinese policy debate.

     

     

     

     

    Related Posts

    • 10000
      CUI Zhiyuan  CUI Zhiyuan 崔之元 Professor, School of Public Policy and Management, Tsinghua University   Cui Zhiyuan teaches Public Policy Analysis and Comparative Politics and Government at the School of Public Policy and Management of Tsinghua University. As a graduate of China's National University of Defense Technology, Cui went on to…
      Tags: university, cui, policy, zhiyuan, public, school, management, tsinghua
    • 70
      event #28 September 24,  2013 Prof. WANG Jisi 王缉思 Professor, School of International Studies, Peking University   Abstract   Where do we trace back the origin of the “March West” theory? Does it have any precedent in the Chinese scholarship and to what extent it can be connected to the American Pivot…
      Tags: university, chinese, policy, professor, school, events
    • 62
         Monthly Discussion Events TIC organizes nine monthly academic discussion events during the academic year in China. The TIC events consist of a speech of about 20 minutes and around one hour of Q&A session with the public. After the events TIC invites the speaker to join a convivial event…
      Tags: events, event


    Read more...
  • Italian Scale-Up Initiative in China 2017 – Final Phase

     

    September 18th – 22nd, Beijing

     

    The Italian Scale-up Initiative in China (ISIC), a pioneer project organised by Tech Silu, China-Italy Chamber of Commerce and ThinkIN China, is about to reach the peak that will act as the springboard for Italian startups towards China. ISIC is where Tech Italian Scale-Ups meet Key Chinese Stakeholders to succeed together.

     

    The initiative begun in April with a call for Italian innovative startups interested in expanding their business to China, and reached a key milestone after two selection phases: more than 50 applicants were screened by a Selection Committee, made by a member of each of the organisers; the resulting best 10 scale-ups were reviewed by the ISIC2017 Judging Panel, composed by nine of the most relevant Chinese investors, and key stakeholders.

     

    D-Orbit, Tok.tv and X-Next resulted as the winners of ISIC2017, chosen to foster their disruptive technologies into the Chinese market.

     

    Some leading figures of the Chinese and Italian startup ecosystem joined ISIC2017 as main partners and sponsors: Zhongguancun Innoway, the innovation and startup hub of Beijing, as Chinese partner, hosting the pitching event on the 18th September; Etihad Airways, as airline sponsor; Caixin Globus and StartupBusiness as media partners.

     

    These key actors made possible the set-up of the final stint of ISIC2017: its program will begin on the 18th September with the event at Zhongguancun Innoway. During the event, the Best3 scale-ups will do their pitching in front of investors and will undertake 1:1 meetings with several players of the Chinese financial market.

     

    The week will continue with a series of strategic follow-up meetings between the CEOs of D-Orbit, X-Next, Tok.tv and several relevant members of the Chinese VC and tech communities to spearhead a successful landing into the Chinese Market.

     

    The journey will culminate on 22nd September with the Ceremony Awards at the Embassy of Italy in China, Beijing, where the scale-ups will receive their prizes; it will be also a relevant moment for an insightful networking with the Italian business community of experts, as well as Chinese investors and stakeholders.

     

    Thanks to ISIC2017, for the first time the Italian tech ecosystem will be a central part to the official Innovation event of the Chinese Government: The National Mass Entrepreneurship and Innovation Week. The goal of the organisers is to provide the scale-ups a concrete opportunity to explore the potential of the Chinese market, boosting the Sino-Italian startup ecosystem, while contributing in shaping the Italian image into the Asian Country.

     

    Luca Rossettini, CEO of D-Orbit, explains why this experience is so important during their expansion phase: “One of the most important markets that will dominate the next decade is Asia. China is not just an opportunity to grow our business but also the best from where positioning our unique technology worldwide. I feel privileged to have the opportunity to visit this country in the next days.” 

     

    Read the entire press release here

     

    Caixin Globus is the media partner of the event, check the promo video of the initiative here

     

     

    Fore more information, contact us at events(at)thinkinchina.asia

     

     

    Related Posts

    • 10000
      Italian Scale-up Initiative in China 2017 - Best10  3rd round completed! The Italian ScaleUp Initiative in China and its judging panel have progressively selected the best Italian scaleups, accelerating them into the Chinese market and empowering both countries’ Startups Ecosystem. The BEST3 scaleups will be the main guests of the Final Event*, taking place in Beijing and…
      Tags: best, will, italian, china, initiative, isic, d-orbit, key, investors, chinese
    • 10000
      Italian Scale-up Initiative in China 2017 - UpdateThe call for innovative Italian startups in the framework of the ISIC 2017 – Italian Scale-up Initiative in China 2017 successfully closed on April 24th 2017. More than 50 candidates have applied, highlighting the great importance of this initiative. Given the high number of candidacies and to guarantee a better evaluation, the…
      Tags: initiative, italian, china, stakeholders, chinese, best, isic, will
    • 10000
      Italian Scale-Up Initiative in ChinaArticle originally published on the website of the China-Italy Chamber of Commerce, http://cameraitacina.com/en/news/isic-2017-italian-scale-initiative-china-2017   The China-Italy Chamber of Commerce, in collaboration with Tech Silu and ThinkIN China, with the support of Zhongguancun Inno Way and Startup Business (media partner), presents the first edition of the project: ISIC 2017 – Italian Scale-up Initiative in China 2017, pioneer project…
      Tags: china, chinese, will, italian, isic, startup, business, ecosystem, market, initiative


    Read more...