76 research outputs found
The Revival of the Funeral Industry in Shanghai: a Model for China
International audienceShanghai was formerly the heart of a highly dynamic funeral industry. Following a fifty-year interlude under the Maoist regime, the city is now seeking to revive this pioneering tradition. Although death is no more visible here than in Chinaâs other major cities, for the past twenty or so years Shanghai has endeavoured to compromise with market forces in order to create a new funeral culture reflecting the ambitions of a new Chinese modernity and destined to serve as a model for the country. More than any other, the funeral industry that has emerged in Shanghai bears the traces of Chinaâs turbulent evolution over the past two centuries. This chapter traces the main stages of the industryâs history by placing it within the context of the major political, economic and social challenges of each period.Shanghai Ă©tait autrefois le cĆur d'une industrie funĂ©raire trĂšs dynamique. AprĂšs un intermĂšde de cinquante ans sous le rĂ©gime maoĂŻste, la ville cherche aujourd'hui Ă faire revivre cette tradition pionniĂšre. Bien que la mort ne soit pas plus visible ici que dans les autres grandes villes chinoises, Shanghai s'efforce depuis une vingtaine d'annĂ©es de faire des compromis avec les forces du marchĂ© afin de crĂ©er une nouvelle culture funĂ©raire reflĂ©tant les ambitions d'une nouvelle modernitĂ© chinoise et destinĂ©e Ă servir de modĂšle pour le pays. Plus que toute autre, l'industrie funĂ©raire qui a Ă©mergĂ© Ă Shanghai porte les traces de l'Ă©volution turbulente de la Chine au cours des deux derniers siĂšcles. Ce chapitre retrace les principales Ă©tapes de l'histoire de cette industrie en la replaçant dans le contexte des grands dĂ©fis politiques, Ă©conomiques et sociaux de chaque pĂ©riode
Editorial
China is undergoing intense urbanisation at a rate largely surpassing anything Asia has experienced and the magnitude of which might well have a lasting effect on the global economy. Some 350 million rural residents are expected to move into urban areas by 2025. If current trends persist, 221 cities could have populations surpassing one million by 2025 â against 35 in Europe now â of which 23 could have more than five million. This urbanisation phenomenon poses a major challenge to the building industry and opens up formidable investment potential. In dealing with real estate issues in China, academic literature has largely focused on land use as a means of capital accumulation by local authorities, conflicts over expropriation procedures, or distortions in land use â especially wasteful use of farmland. However, little is known of the workings of property markets and the modalities of action in that industry. This special feature aims to open new paths of reflection on the structuring effects of property dynamics in Chinaâs urbanisation. Rooted in Deng Xiaoping-era reforms, Chinaâs property market really took off in the 1990s with the growth of a private housing market. In just a few years, official steps to externalise the real estate of work units transformed thousands of people into owner-occupants. This has been accompanied by a marked rise in property prices in coastal cities. Is this because of speculative activities, or do these spurts stem from the Chinese productive systemâs economic performance? The media have reported on extreme instances of real estate oversupply in several places, the most spectacular being the Ordos âghost cityâ in Inner Mongolia. MylĂšne Gaulard notes these supplydemand distortions and defends the bubble hypothesis. She points to the abnormally high property-price/income ratio and to rising real estate debt in the Chinese economy. She traces the origin of speculative activities to 1994, when there was a convergence of fiscal recentralisation, an upsurge in local collectivesâ indebtedness based on land collateral, and housing commodification
Ăditorial
La Chine fait face Ă un intense phĂ©nomĂšne dâurbanisation Ă un rythme qui dĂ©passe largement ce que lâAsie avait dĂ©jĂ connu et dont lâampleur est de nature Ă affecter durablement lâĂ©conomie mondiale. Il est estimĂ© que 350 millions de ruraux basculeront dans la sphĂšre urbaine Ă lâhorizon 2025. Si la tendance actuelle se poursuit, 221 villes pourraient ĂȘtre millionnaires Ă lâhorizon 2025 âcontre 35 en Europe aujourdâhuiâ, dont 23 auraient plus de 5 millions dâhabitants. Ce phĂ©nomĂšne dâurbanisation constitue un dĂ©fi majeur pour lâindustrie de la construction et offre un formidable potentiel pour lâinvestissement immobilier. La littĂ©rature acadĂ©mique a largement traitĂ© de la question fonciĂšre en Chine, apportant des Ă©clairages sur lâusage du sol comme vĂ©hicule dâaccumulation du capital par les collectivitĂ©s locales, les conflits liĂ©s aux procĂ©dures dâexpropriation ou encore les distorsions dans lâoccupation des sols â en particulier le gaspillage de terres agricoles. Toutefois, on connaĂźt moins bien le fonctionnement des marchĂ©s immobiliers et les modalitĂ©s dâaction de lâindustrie dont ils relĂšvent. Ce numĂ©ro spĂ©cial entend lancer de nouvelles pistes de rĂ©flexion sur lâeffet structurant des dynamiques immobiliĂšres dans le phĂ©nomĂšne dâurbanisation en Chine. NĂ©e des rĂ©formes de lâĂšre Deng Xiaoping, lâĂ©conomie immobiliĂšre nâa vĂ©ritablement pris son essor sur le continent chinois quâĂ partir des annĂ©es 1990, avec le dĂ©veloppement dâun marchĂ© privĂ© du logement. En quelques annĂ©es Ă peine, les mesures gouvernementales dâexternalisation du parc immobilier rĂ©sidentiel des unitĂ©s de travail ont transformĂ© des milliers de Chinois urbains en propriĂ©taires-occupants. Ce phĂ©nomĂšne a Ă©tĂ© accompagnĂ© dâune envolĂ©e des prix immobiliers particuliĂšrement marquĂ©e dans les villes cĂŽtiĂšres. Est-on en prĂ©sence de mĂ©canismes spĂ©culatifs ou bien doit-on imputer ces flambĂ©es aux performances Ă©conomiques du systĂšme productif chinois ? Les media ont pointĂ© des manifestations extrĂȘmes dâune surproduction immobiliĂšre Ă plusieurs endroits, dont le plus spectaculaire est sans doute le cas de la ville fantĂŽme dâOrdos en Mongolie intĂ©rieure. Ces distorsions entre lâoffre et la demande sont Ă©galement signalĂ©es par MylĂšne Gaulard, qui dĂ©fend lâhypothĂšse de lâexistence dâune bulle en insistant sur le niveau anormalement Ă©levĂ© du rapport prix des logements/revenus et sur le poids croissant de lâendettement immobilier dans lâĂ©conomie chinoise. Elle situe lâorigine du mĂ©canisme spĂ©culatif en 1994, moment oĂč ont convergĂ© la recentralisation du systĂšme fiscal, lâaccĂ©lĂ©ration consĂ©cutive de lâendettement des collectivitĂ©s locales sur nantissement foncier et la âmarchandisationâ du secteur rĂ©sidentiel
Editorial
China is undergoing intense urbanisation at a rate largely surpassing anything Asia has experienced and the magnitude of which might well have a lasting effect on the global economy. Some 350 million rural residents are expected to move into urban areas by 2025. If current trends persist, 221 cities could have populations surpassing one million by 2025 â against 35 in Europe now â of which 23 could have more than five million. This urbanisation phenomenon poses a major challenge to the building industry and opens up formidable investment potential. In dealing with real estate issues in China, academic literature has largely focused on land use as a means of capital accumulation by local authorities, conflicts over expropriation procedures, or distortions in land use â especially wasteful use of farmland. However, little is known of the workings of property markets and the modalities of action in that industry. This special feature aims to open new paths of reflection on the structuring effects of property dynamics in Chinaâs urbanisation. Rooted in Deng Xiaoping-era reforms, Chinaâs property market really took off in the 1990s with the growth of a private housing market. In just a few years, official steps to externalise the real estate of work units transformed thousands of people into owner-occupants. This has been accompanied by a marked rise in property prices in coastal cities. Is this because of speculative activities, or do these spurts stem from the Chinese productive systemâs economic performance? The media have reported on extreme instances of real estate oversupply in several places, the most spectacular being the Ordos âghost cityâ in Inner Mongolia. MylĂšne Gaulard notes these supplydemand distortions and defends the bubble hypothesis. She points to the abnormally high property-price/income ratio and to rising real estate debt in the Chinese economy. She traces the origin of speculative activities to 1994, when there was a convergence of fiscal recentralisation, an upsurge in local collectivesâ indebtedness based on land collateral, and housing commodification
Finance Capital Launches an Assault on Chinese Real Estate
Over the past two decades, global market finance has taken root in China to seek property investment. This article examines the spatialities and anchorage methods of finance capital within Chinese national territory. It highlights the spatial and sectoral differences in the composition of property portfolios as a function of the return/risk coupling. These differences are exacerbated by a split in the geographical origin of the funds, which determines differentiated conditions of access to land and management of the investment time horizon of the assets portfolios. The penetration of finance capital into urban space tends to increase the fragmentation and functional specialisation of districts, a phenomenon fostered by entrepreneurial urban policies. As a result, urban projects are becoming standardised in terms of both design and program. They are increasingly governed by external references that favour the expansion of multinationals and transform lifestyles and consumer habits
Les booms immobiliers en Chine, un défi à la théorie de la bulle
International audienceOver the past two decades, Chinese cities have experienced real estate booms displaying clear signs of "bubble" elements, including, inter allia, prohibitive residential prices, an accumulation of debt, and severe overbuilding. In 2014, many media commentators claimed that Chinese property markets were about to burst. Yet house prices have started to rise again in major cities, and no significant slowdown has been recorded to date. This chapter addresses the challenges posed by China's residential market dynamics to the bubble theory. Adopting a political economy perspective that breaks with the approaches of real estate economics, it highlights the self-fulfilling logic of the housing booms, resulting from pervasive practices of land value capture by local governments. The paper stresses the inadequacy of the bubble framework to distinguish speculative and "fundamental" explanatory factors of price increases, and provides an alternative reading based on AndrĂ© OrlĂ©an's theory of conventions. It is argued that the asymmetric nature of the State's regulation of housing markets-a failure to rein in housing price hikes, yet efficiency in managing downturns-has played a crucial role in shaping the common representation of the market by investors. Beyond the challenge to bubble theory, China's experience of housing booms opens the way for the recognition of alternative paths to finance-led regimes of capital accumulation in the built environment.Au cours des deux derniĂšres dĂ©cennies, les villes chinoises ont connu un boom immobilier qui a montrĂ© des signes Ă©vidents d'Ă©lĂ©ments de "bulle", y compris, entre autres, des prix rĂ©sidentiels prohibitifs, un gonflement de la dette privĂ©e et une importante surproduction. En 2014, de nombreux commentateurs des mĂ©dias ont affirmĂ© qu'une bulle allait exploser sur les marchĂ©s immobiliers chinois Pourtant, les prix de l'immobilier ont recommencĂ© Ă augmenter dans les grandes villes, et aucun ralentissement significatif n'a Ă©tĂ© enregistrĂ© Ă ce jour. Ce chapitre aborde les dĂ©fis posĂ©s Ă la thĂ©orie de la bulle par les dynamiques des marchĂ©s rĂ©sidentiels chinois. Adoptant une perspective d'Ă©conomie politique qui rompt avec les approches de l'Ă©conomie immobiliĂšre, il met en Ă©vidence la logique auto-rĂ©alisatrice des booms immobiliers, rĂ©sultant de pratiques de captation de la rente fonciĂšre par les gouvernements locaux. L'article souligne l'inadĂ©quation du cadre analytique de la bulles spĂ©culative pour distinguer les facteurs spĂ©culatifs et les facteurs explicatifs "fondamentaux" des hausses de prix, et propose une lecture alternative basĂ©e sur la thĂ©orie des conventions d'AndrĂ© OrlĂ©an. L'auteur soutient que la nature asymĂ©trique de la rĂ©glementation des marchĂ©s du logement par l'Ătat - une incapacitĂ© Ă contenir les hausses de prix des logements, mais une gestion efficace de prĂ©vention de la baisse des prix- a jouĂ© un rĂŽle crucial dans la construction d'une reprĂ©sentation partagĂ©e du marchĂ© par les investisseurs. Au-delĂ de la remise en cause de la thĂ©orie des bulles, l'expĂ©rience de la Chine en matiĂšre de boom immobilier ouvre la voie Ă la reconnaissance de voies alternatives aux rĂ©gimes d'accumulation de capital financier dans l'environnement bĂąti
Introductory speech
International audienceIntroductory speech highlighting the divergence between land and real estate studie
Théorie de la Régulation et géographie : quels apports réciproques ?
International audienceLa TR a contribuĂ© Ă lâĂ©laboration dâapproches heuristiques en gĂ©ographie Ă©conomique pour aborder la transformation des systĂšmes productifs, lâinternationalisation de la finance et lâamplification de lâinvestissement immobilier en rĂ©gime postfor-diste. En retour, ces travaux ont enrichi lâapproche a-spatiale de lâEcole de la RĂ©gulation en contribuant Ă une thĂ©orisation du dĂ©-veloppement inĂ©gal des territoires. Ces Ă©changes fructueux pour-raient ĂȘtre renforcĂ©s si la TR prenait en compte la montĂ©e en puissance de lâĂ©chelle mĂ©so des mĂ©tropoles, et considĂ©rait plus gĂ©nĂ©ralement la pluralitĂ© des Ă©chelles dâaction. Les gĂ©ographes pourraient Ă©galement alimenter une rĂ©flexion sur la centralitĂ© croissante de lâimmobilier dans les dynamiques de (dĂ©)croissance des capitalismes contemporains, constat quâune thĂ©orie hĂ©tĂ©rodoxe ne pourrait ignorer plus longuement
La titrisation, un danger pour l'Asie
[http://www.reseau-asie.com/cgi-bin/prog/pform.cgi?langue=fr&ID_document=2082&TypeListe=showdoc&Mcenter=edito&my_id_societe=1&PRINTMcenter= ]Site Web : Edito du RĂ©seau Asie (http://www.reseau-asie.com/cgi-bin/prog/pform.cgi?langue=fr&ID_document=2082&TypeListe=showdoc&Mcenter=edito&my_id_societe=1&PRINTMcenter=
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