https://www.scmp.com/rss/318033/feed Michael Heng is a retired professor. He obtained his PhD in management from the Free University of Amsterdam, and has held academic positions in the Free University of Amsterdam, the University of South Australia, and six other universities in Asia including the National University of Singapore and Fudan University. He has published five books, the most recent is Global Financial Crisis and Challenges for China. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com For several years, the Chinese economy has faced slowing economic growth and the challenges of restructuring. Geopolitical headwinds have not made these tasks any easier. The latest of Beijing’s efforts to handle these problems was announced shortly before National Day. A series of stimulus measures included moves to pump liquidity into the stock market, such as refinancing loans for banks extending credit to firms that want to conduct share buy-backs. Unsurprisingly, the stock market responded... https://www.scmp.com/opinion/china-opinion/article/3282300/4-steps-china-can-take-revive-and-future-proof-its-economy?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3282300/4-steps-china-can-take-revive-and-future-proof-its-economy?utm_source=rss_feed Tue, 15 Oct 2024 08:30:07 +0000 The expansion of university education in the last few decades has enabled millions of school leavers to continue their education in university. This is to be applauded. However, it has given rise to a new problem. Millions upon graduation cannot find the jobs they are trained for. This is part of their frustration and anger with the government and society. There are two sides to the problem. From the supply side, with the mushrooming of universities, especially profit-oriented ones, their... https://www.scmp.com/comment/opinion/article/3019643/tackle-unemployment-among-graduates-and-youth-anger-invest?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3019643/tackle-unemployment-among-graduates-and-youth-anger-invest?utm_source=rss_feed Wed, 24 Jul 2019 08:00:08 +0000 More than a decade after the 2008 financial crisis, the world is still stuck in the long tunnel of economic pessimism: sluggish and uncertain growth, unemployment or underemployment, near-zero or negative nominal interest rates in advanced economies, widening gaps in income and opportunities, mounting private and public debts. For several years after the crisis, the turbo-charged economy of China was a strong driver of global economic growth. That engine has slowed considerably – another... https://www.scmp.com/comment/insight-opinion/article/3005406/helicopter-money-spent-wisely-can-turn-around-large-economy?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/3005406/helicopter-money-spent-wisely-can-turn-around-large-economy?utm_source=rss_feed Wed, 10 Apr 2019 04:00:15 +0000 The Kim-Trump summit in Singapore has reduced the danger of armed conflict on the Korean peninsula. It is good for peace in the near future and it calms stock markets.  At the same time, it is a big media event for Kim Jong-un. It will no doubt boost his international standing and strengthen his position at home. North Korea is the biggest winner, thanks to the calculating Kim and the disappointing Donald Trump. The immediate gain is the likely relaxation of economic sanctions against the... https://www.scmp.com/comment/insight-opinion/united-states/article/2151584/if-us-military-withdraws-korea-china-will-be?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/united-states/article/2151584/if-us-military-withdraws-korea-china-will-be?utm_source=rss_feed Wed, 20 Jun 2018 08:00:30 +0000 For the first time in his ­annual work report to the National People’s Congress, Premier Li Keqiang (李克強) publicly condemned the notion of Hong Kong independence. He warned that the movement would lead nowhere. On this point, Li can expect the support of Chris Patten, the last governor of Hong Kong. To the vast majority of Hongkongers, the idea of independence is simply and obviously untenable. The demand for independence has been spearheaded by an extreme group within the pro-democracy... https://www.scmp.com/comment/insight-opinion/article/2076757/can-battered-hong-kong-regain-some-its-dignity-eyes-beijing?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2076757/can-battered-hong-kong-regain-some-its-dignity-eyes-beijing?utm_source=rss_feed Wed, 08 Mar 2017 10:01:52 +0000 A recent media report, citing a think tank survey of some 2,000 Form Five students, claimed that one in three face a “national identity crisis” as they do not consider themselves Chinese citizens. Two interesting points emerge. First, the director of the think tank, Andrew Fung Ho-keung, is quoted as saying, “It’s a crisis because it endangers the very foundation of the ‘one country, two systems’ principle”. Next, 70 per cent of those who did not consider themselves Chinese citizens said they... https://www.scmp.com/comment/insight-opinion/article/2058855/not-fully-chinese-hong-kong-people-have-fluid-identity-and?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2058855/not-fully-chinese-hong-kong-people-have-fluid-identity-and?utm_source=rss_feed Tue, 03 Jan 2017 05:55:34 +0000 The world should welcome a wealthy and powerful China. A strong Chinese economy has benefited the global economy, and a powerful China in the 1930s would probably have deterred Japan from invading China and Southeast Asia. However, while welcoming a powerful China, the world would not like to see a bullying China. China is not alone in Asia with its dream to become wealthy and powerful. With Asian economies doing well, many hope this will be the Asian Century. But what kind of Asian Century? For... https://www.scmp.com/comment/insight-opinion/article/1723723/china-led-asia-should-aspire-nothing-less-cultural?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1723723/china-led-asia-should-aspire-nothing-less-cultural?utm_source=rss_feed Thu, 26 Feb 2015 03:49:48 +0000