The Fifth dragon : aspects of the economic take-off in Guangdong Province, China

The purpose of this paper is to highlight the salient aspects of economic change in Guangdong Province against the background of the institutional and policy readjustments which have taken place in the past decade or so. This is not actually the place to discuss whether given the present path of development, the province will really be able to emulate the success story of the four little dragons in the years to come. In section 2, there is a brief discussion of the comparative economic importance of Guangdong within China and relative to the four little Dragons. Section 3 analyses the changing trends in GDP, both total and per capita, since 1978, compared with the growth experience of the country as a whole. Section 4 examines the impact of accelerated economic growth on the province’s income and employment structure by referring to the changing relative contributions of agriculture, industry and service sectors. Section 5 discusses the role played by investment and foreign capital in particular. Section 6 analyses the relative contribution of foreign trade to GDP growth. Section 7 evaluates how Guangdong has benefitted from the important Hong Kong connection in terms of both trade and investment relations. The paper is concluded with a brief evaluation of the prospects for the aspiring fifth little dragon

The role of Hong Kong in Sino-US economic relations

This paper represents a first attempt to isolate the relative contributions of Hong Kong manufactures and exporters to the export earnings from their joint ventures based in China

Comparison of Bulbar and Mucosal Olfactory Ensheathing Cells Using FACS and Simultaneous Antigenic Bivariate Cell Cycle Analysis

Transplantation of olfactory ensheathing cells (OECs) is a promising route for CNS repair. There have, however, been major discrepancies between the results from different groups. Part of this can be attributed to variations in cell sources and culture protocols. Accurate estimation of the proportions of OECs and their associated fibroblasts (ONFs) and their evolution with time in culture is an essential baseline for establishing the reparative properties of transplants. In this study, we compare the evolution of cultures from the superficial layers of the olfactory bulb with tissue from the olfactory mucosa, both whole and split into lamina propria and epithelial layer. We used FACS based on p75 and Thy1 to provide a robust and objective numerical estimate of the numbers of OECs and ONFs, respectively in the cultures. A novel four color simultaneous antigenic bivariate cell cycle analysis shows that proliferation of OECs is time-limited, and is unable to prevent an overall loss of OECs with time. Overall, the numbers of OECs in the cultures were inversely correlated with the deposition of fibronectin (FN). Further, culture of the cells purified by flow cytometry shows that, whereas the Thy1 population is terminally differentiated, the p75 population from the mucosal samples generates subpopulations with different antigenic phenotypes, including the reappearance of a subpopulation of p75 cells expressing FN. Culturing epithelial samples at high density reveals an unexpected transient stem cell-like population of rapidly proliferating p75 positive cells. (C) 2011 Wiley-Liss, Inc

The politics of Chinese trade and the Asian financial crises : questioning the wisdom of export-led growth

Between 1987 and 1996 Chinese exports increased by an average of 14% each year. During this decade, export growth became a crucial determinant of overall economic growth. However, as a consequence of the East Asian financial crises, Chinese export growth slowed, threatening the successful implementation of plans to restructure the domestic Chinese economy. This paper traces the reasons for the rapid growth and subsequent slowing of Chinese exports, and asks whether the strategy provides a solid basis for the long term development of the Chinese economy. In particular, the paper focuses on the role and significance of the processing trade in boosting Chinese exports. The high proportion of imported components in processed exports questions whether China is really benefiting as much from export growth as aggregate trade figures seem to suggest

Renminbi Internationalisation: Precedents and Implications

While it is commonly assumed that there are no known precedents against which to benchmark the internationalisation of the Renminbi (RMB), this paper argues that the PRCs own development experience provides a useful perspective on the internationalisation debate. In particular it indicates that lessons can be learnt from both the successes and the shortcomings of efforts to internationalise the RMB in the 1970s. During this period state-owned banks in Hong Kong played a central role in mobilising finance for foreign trade. Access to Hong Kong’s developed financial institutions allowed the PRC to maximise receipts from foreign trade as well as minimise the risks of undue swings in capital flows. The paper shows that although China no longer faces foreign exchange scarcity, economic reforms have not yet resolved vulnerabilities in China’s financial institutions and as such Hong Kong’s role in mitigating the risk of undue capital swings remains

Extension of Time (EoT) Considerations in Construction Duration Estimate for Public Construction Projects

Construction duration is defined as the time frame given by the Client of a project use to complete the project under normal working conditions, practice of construction. However, often times, projects faced time overruns and hence, needing to activate contractual remedies like Extension of Time (EoT). This paper aims to investigate the factors related to award the Extension of Time (EoT) for construction projects in especially in the public sector in Sarawak. A structured checklist was created as an instrument and employed to accomplish the objective of this research. A total of 111 previous public projects which were granted EoT were studied. The findings revealed several detailed factors that had typically led to project delays in the State. These findings are expected to offer the construction industry stakeholders in Sarawak a focal point on those delay that could be included in construction project duration estimates and management of construction performances, followed by the appropriate corrective and improvement measures for time management for construction projects