Foreign Banking in China: A Study of 279 Branch Units in 32 Cities

Two China-based geographers examine the gradual relaxation of restrictions on the activity of foreign banks in China as a prelude to a more focused investigation of the concentrated locational pattern of foreign banking in that country. The study, which embraces 32 Chinese cities, emphasizes the factors that have attracted foreign banks to particular cities and regions of China, including the existence of special banking opportunities, the so-called "follow-the customer" strategy, externalities associated with major financial centers such as Beijing and Shanghai, relaxed banking regimes in particular urban centers and special economic zones, and exposure to international trade and to a variety of foreign business enterprises. The locational preferences of foreign banks in relation to their countries of origin are addressed in some detail.     

我国国有饭店产权退出战略

我国国有饭店产权退出战略是国有饭店改革的重点,通过实施国有饭店产权的部分退出或整体退出战略,采用协商买断、公开拍卖、购并和MBO等策略,能实现国有资产的顺利退出,使国有饭店完全走市场化发展的道路。     

16世纪后期英国的外贸公司及其历史作用

16世纪后期的英国,资本主义生产关系已初步形成,工农业生产得到一定程度的发展,呢绒成为英国重要的出口商品。都铎政府采取重商政策,鼓励商品出口。在此背景下,对外贸易公司纷纷成立。这些贸易公司除了在其垄断地区进行正常贸易外,同时从事地理发现和海上掠夺,并代表政府进行外交活动。外贸公司的活动,促进了英国工业的发展,对英国当时和后来的经济发展产生了深远的影响。这一时期出现的外贸合股公司这一组织形式,成为英国17世纪对北美洲和印度实行殖民占领和统治的过渡的组织形式。外贸合股公司为不列颠殖民帝国的创建做出了不可磨灭的贡献。     

Economic Protectorate in Britain’s Informal Empire: The Trucial Coast during the Second World War

This article examines the economic and political impact of the Second World War upon a small outpost of Britain’s informal empire. It analyses the multiple ways in which the economy, trade and governance of the Trucial Coast were disrupted, disturbed and challenged by the exceptional circumstances of the war. In response to these circumstances, a variety of emergency arrangements were introduced, resulting in an unprecedented degree of involvement of outsiders and foreign agencies in the management of the local economy. The transformation of Britain’s traditional policy of non-interference in the internal affairs of the Trucial Coast is traced back to the exigencies of wartime conditions.     

The Levant Company under Attack in Parliament, 1720–53

Parliamentary debates concerning the British chartered companies in the 18th century are an important resource which can provide a range of insights into the fate of the companies, the concerns of British economic policy, and the process of political decision making on economic issues. Of all the parliamentary debates concerning chartered companies in the 18th century, those concerning the Levant Company have received the least scholarly attention. This article examines a series of debates involving the Levant Company during the period 1720–53. These debates saw the company increasingly put on the defensive. By the middle of the century, there was, in the words of the duke of Bedford, ‘a very great outcry against companies of all kinds’. However, the debates concerning the Levant Company did not turn on competing views regarding political economy. War was an influence on the timing of the debates, but it was the economic impact of the company's deteriorating competitive position on its woollen cloth suppliers from the west country which was crucial. As French competition gained momentum, cloth exports fell and the political pressure on the company intensified. In the face of this, the company was far from defenceless in parliament. It had influential supporters and did not hesitate to pander to fears about the potential domination of its trade by jewish merchants. The company was forced to lower its admission fee in 1753, but survived and continued to operate into the 19th century.     

The United States Monopolization of Bank Note Production: Politics,Government, and the Greenback, 1862–1878

Abstract

Between 1862 and 1878, the view of the United States government towards the nation's money was transformed. Early in the Civil War, the government got into the bank note printing business out of necessity, printing and issuing the first-ever federal currency. Over the following years, debates raged whether the national currency should be printed privately or by the government's bank note printer, the United States Bureau of Engraving and Printing (BEP). Matters came to a head in 1878 when Congress debated the future of the BEP. That year, in a radical departure from the past, Congress gave the Bureau of Engraving and Printing a monopoly on the production of currency, forever changing the role of the government in the nation's economy. Money, be it in the form of coin or currency, was now the exclusive province of the government – not private banks or bank note companies. This change was the result of a rare consensus between Democrats and Republicans and between the forces of the antimonopoly tradition, Greenbackism, and hard money. For various reasons, they were unanimous in believing that the government, especially Congress, should be in control of those matters affecting the monetary affairs of the country.     

China's Economic Policy Today: The New State Activism

A noted American authority and investigator of China's economy outlines the general features of the ongoing reorientation of Chinese economic policymaking toward increased state activism, which has gained momentum in the aftermath of the global financial crisis. An initial section of the paper describes the marketization and privatization initiatives of China's late reform period to provide a baseline against which to measure the subsequent shift toward increased state intervention and guidance in the economy. The author traces the shift in three critical policy arenas (social policy, state-owned enterprises, and industrial and technology policy) and demonstrates how state involvement in each intensified during the global financial crisis. He then proceeds to explore the implications of accelerated state activism in the future, identifying potential rewards as well as large risks. Among the latter are macroeconomic imbalances, a "softening" of budget constraints, difficulties in recognizing and terminating unsuccessful economic programs, and tensions with trading partners.     

Getting the China Story Right: Insights from National Economic Censuses

Two Hong Kong-based geographers critically interrogate competing interpretations of the nature and dynamics of China's ongoing economic transformation. Based on the data gathered from China's first and second national economic censuses, they examine the pattern and process of ownership transformation in the Chinese economy, focusing on employment, capital assets, and output as well as productivity and industrial innovation. Emphasis is placed on the following critical issues: (1) after three decades of opening, China's national economy continues to be dominated by domestic enterprises (with foreign and overseas Chinese-invested enterprises limited to only a few industrial sectors and highly specific locales); (2) the bulk of capital assets and key large-scale industrial sectors remain in state ownership; and (3) spontaneous, bottom-up privatization of the labor market has occurred without a corresponding privatization of the capital market. In examining these and other issues, the authors argue that the evolving, complex "China story" can be better understood only after abandoning reliance on preconceived theoretical models derived primarily from Western experience. They support their case by first challenging the conventional neoliberal view of privatization as an independent force or predetermined condition, arguing instead that it is conditioned by prevailing social and political influences. Likewise, they posit that rapid expansion of private and individual businesses at the grassroots level has owed more to relaxed state control than to active state involvement envisioned by the thesis of state corporatism. Journal of Economic Literature, Classification Numbers: E22, E23, E24, O11, P20. 8 figures, 6 tables, 87 references.     

Consuming icons: nationalism and advertising in Australia*

ABSTRACT. In extension of Billig's (1995) and Edensor's (2002) contribution to the literature, this paper examines an often overlooked element in ‘mundane’ nationalism, company advertising. Through the development of a typology of advertising strategies, it examines the role of companies as nationalist actors, and highlights how advertisements can engage with and impact on wider national discourses. Nationalist company advertising is classified into types, depending on how associated the company is with nationalism in popular discourse, and whether the advertising campaign involves the company's participation in broader nationalistic political projects. The types developed in this typology include (1) ‘ordinary marketing/achieving nationalist credentials’, (2) ‘ordinary marketing/established nationalist credentials’ and (3) ‘activist marketing/achieving nationalist credentials’. Case studies from the Australian context are used to illustrate these types, how the different types use nationalism, and their varying impact on shaping wider nationalistic discourses.     

政府控制、权力制衡与旅游上市公司经营绩效的关系研究

政府控制是我国旅游上市公司中常见的现象。在2011）年沪深两市共26家旅游上市公司中,仅有新都酒店、ST东海、大连圣亚、世纪游轮四家公司的实际控制人为自然人或民营企业法人,政府直接或间接控制的上市公司数量占比高达85％。根据终极产权理论和相关的经验研究结果,不同的终极控制人的性质对企业经营绩效的影响存在很大差别。本文利用沪深两市2003～2010年间旅游上市公司的非平衡面板数据,对政府控制、权力制衡与旅游上市公司经营绩效之间的关系进行了实证研究。,研究结果表明,在当前的市场环境下,地方政府控制的旅游上市公司经营绩效高于非政府和中央政府控制的旅游上市公司,同时,适当减少地方政府控制权比例,建立科学的制衡机制将有助于提高;茂国旅游上市公司的经营绩效。