248 research outputs found
Why Are Saving Rates So High in China?
In this paper, we define "The Chinese Saving Puzzle" as the persistently high national saving rate at 34-53 percent of gross domestic product (GDP) in the past three decades and a surge in the saving rate by 11 percentage points from 2000-2008. Using data from the Flow of Funds Accounts (FFA) and Urban Household Surveys (UHS) supplemented by the findings from existing studies, we analyze the sources and causes of China's high and rising saving rates in the government, corporate, and household sectors. Although the causes of China's high saving are complex, we suggest that the evolving economic, demographic, and policy trends in the internal and external environments of the Chinese economy will likely lead to a decline in national saving in the foreseeable future.demographic structure, aggregate saving, international comparison, household behavior, China
China: Surpassing the “Middle Income Trap”
This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists
China: Surpassing the “Middle Income Trap”
This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists
RACER: Rapid Collaborative Exploration with a Decentralized Multi-UAV System
Although the use of multiple Unmanned Aerial Vehicles (UAVs) has great
potential for fast autonomous exploration, it has received far too little
attention. In this paper, we present RACER, a RApid Collaborative ExploRation
approach using a fleet of decentralized UAVs. To effectively dispatch the UAVs,
a pairwise interaction based on an online hgrid space decomposition is used. It
ensures that all UAVs simultaneously explore distinct regions, using only
asynchronous and limited communication. Further, we optimize the coverage paths
of unknown space and balance the workloads partitioned to each UAV with a
Capacitated Vehicle Routing Problem(CVRP) formulation. Given the task
allocation, each UAV constantly updates the coverage path and incrementally
extracts crucial information to support the exploration planning. A
hierarchical planner finds exploration paths, refines local viewpoints and
generates minimum-time trajectories in sequence to explore the unknown space
agilely and safely. The proposed approach is evaluated extensively, showing
high exploration efficiency, scalability and robustness to limited
communication. Furthermore, for the first time, we achieve fully decentralized
collaborative exploration with multiple UAVs in real world. We will release our
implementation as an open-source package.Comment: Conditionally accpeted by TR
Event-based Visual Inertial Velometer
Neuromorphic event-based cameras are bio-inspired visual sensors with
asynchronous pixels and extremely high temporal resolution. Such favorable
properties make them an excellent choice for solving state estimation tasks
under aggressive ego motion. However, failures of camera pose tracking are
frequently witnessed in state-of-the-art event-based visual odometry systems
when the local map cannot be updated in time. One of the biggest roadblocks for
this specific field is the absence of efficient and robust methods for data
association without imposing any assumption on the environment. This problem
seems, however, unlikely to be addressed as in standard vision due to the
motion-dependent observability of event data. Therefore, we propose a
mapping-free design for event-based visual-inertial state estimation in this
paper. Instead of estimating the position of the event camera, we find that
recovering the instantaneous linear velocity is more consistent with the
differential working principle of event cameras. The proposed event-based
visual-inertial velometer leverages a continuous-time formulation that
incrementally fuses the heterogeneous measurements from a stereo event camera
and an inertial measurement unit. Experiments on the synthetic dataset
demonstrate that the proposed method can recover instantaneous linear velocity
in metric scale with low latency
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