https://www.scmp.com/rss/324709/feed James Liang is an economist and entrepreneur. He is the co-founder and executive chairman of Trip.com Group. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com In a recent New York Times article, Paul Krugman suggested that China’s economy could stagnate because of its unsustainably high level of savings and housing bubble. His prescription is that “China really needs to change its economic mix – to save less and consume more.” Both the diagnosis and prescription are very misleading. China has a large real estate sector and housing prices are high compared to other economies. But Krugman jumps to the conclusion that this constitutes a bubble. However,... https://www.scmp.com/comment/opinion/article/3154749/china-doesnt-have-housing-bubble-heres-why?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3154749/china-doesnt-have-housing-bubble-heres-why?utm_source=rss_feed Fri, 05 Nov 2021 01:15:22 +0000 China’s latest draft law on granting permanent residency to foreigners has touched a nerve among the public. It has been met with overwhelming disapproval, fanning fears that a “lowered threshold” will lead to an influx of immigrants who will put a strain on resources. A closer look at the proposed regulation, however, finds the bar for obtaining a Chinese “green card” remains extremely high. For instance, a skilled applicant is required to hold a doctoral degree or a diploma from “an... https://www.scmp.com/economy/china-economy/article/3078283/china-needs-more-not-fewer-immigrants-if-it-wants-long-term?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3078283/china-needs-more-not-fewer-immigrants-if-it-wants-long-term?utm_source=rss_feed Sun, 05 Apr 2020 01:00:12 +0000 In response to the outbreak of the 2019 novel coronavirus (2019-nCoV), at least 62 countries have implemented immigration restrictions to help contain the infection globally. There are some striking disparities in the scope of their restrictions. A list by the consular department of China’s foreign affairs ministry divides these restrictions into three main categories. Category I restrictions are the strictest and bar entry to all Chinese nationals and foreign nationals who have been in China... https://www.scmp.com/comment/opinion/article/3049198/coronavirus-travel-bans-shutting-door-china-now-will-hurt-goodwill?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3049198/coronavirus-travel-bans-shutting-door-china-now-will-hurt-goodwill?utm_source=rss_feed Sat, 08 Feb 2020 01:00:11 +0000 The context behind recent fluctuations and squabbles between the United States and China is quite clear for us all to see – two powers vying for technological domination over the other in the great technology race of the 21st century. For the moment, it seems evident that China will continue to outpace and surpass the US in the next 10 to 20 years. In the long run, however, the determining factor in the outcome of this struggle, I believe, could be how these two superpowers manage issues of... https://www.scmp.com/economy/china-economy/article/3019262/us-china-tech-war-could-be-decided-population-management?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3019262/us-china-tech-war-could-be-decided-population-management?utm_source=rss_feed Fri, 19 Jul 2019 23:00:07 +0000 The recent frenzied discussions about China’s engagement with the world tend to focus on trade tariffs and technology transfers, but one area where China consistently underperforms compared to other nations continues to be overlooked – attracting overseas tourists. The dramatic growth in Chinese citizens travelling overseas is a well-known phenomenon across the globe. As many as 140 million tourists from China choose to holiday and contribute to the economies in foreign countries every year, and... https://www.scmp.com/economy/china-economy/article/3011675/can-china-improve-its-image-foreign-travelers-who-are-put?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3011675/can-china-improve-its-image-foreign-travelers-who-are-put?utm_source=rss_feed Fri, 24 May 2019 20:00:14 +0000 As China continues to struggle with a low fertility rate, a simple government policy change, such as removing the limit on the number of children couples can have, might not be sufficient to improve the worrying demographic picture. The two-child policy has proved a disappointment. Introduced two years ago, its effect has so far been minimal. The country’s fertility rate remained below 1.5 births per woman last year, while the number of babies born actually fell. If the fertility rate remains... https://www.scmp.com/opinion/james-liang-how-can-china-encourage-couples-have-more-babies/article/2139035?utm_source=rss_feed https://www.scmp.com/opinion/james-liang-how-can-china-encourage-couples-have-more-babies/article/2139035?utm_source=rss_feed Tue, 27 Mar 2018 10:00:15 +0000 With the implementation of China’s two-child policy, many Chinese women are asking their husbands the same question: should our second baby have my surname instead of yours? It is largely a private discussion but it could have significant social implications in China, where the fertility rate has dropped to an alarmingly low level. In my view, it’s time to change the tradition of assigning the father’s surname to a child. Instead, China should encourage children, especially daughters, to have... https://www.scmp.com/news/china/society/article/2118620/opinion-case-chinese-women-pass-their-family-name?utm_source=rss_feed https://www.scmp.com/news/china/society/article/2118620/opinion-case-chinese-women-pass-their-family-name?utm_source=rss_feed Mon, 06 Nov 2017 15:00:36 +0000 One of the big changes in China since President Xi Jinping took power five years ago is the ending of the notorious one-child policy, which was replaced by a two-child policy. But this adjustment did not go far enough to drive the country’s fertility ratio to a healthy level – and to stave off its demographic time bomb. It’s time for Beijing to get rid of birth restrictions entirely, and to encourage Chinese to have bigger families. According to the latest statistics from the National Health and... https://www.scmp.com/news/china/policies-politics/article/2116479/its-time-china-tear-rule-book-family-size?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/2116479/its-time-china-tear-rule-book-family-size?utm_source=rss_feed Mon, 23 Oct 2017 00:30:00 +0000 China’s education system is being held hostage by its rigid state exam system. To enrol in a good school or university, a Chinese student needs to spend two years, if not longer, to prepare for an exam – the result of which will decide whether he or she makes it. It’s a gruesome experience for most students. Many affluent Chinese families are walking away from the country’s nationwide college entrance exam, known as gaokao. Instead, they are sending their children overseas. It’s a trend now... https://www.scmp.com/comment/insight-opinion/article/2108721/chinas-rigid-college-entrance-exam-failing-tests-equality?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2108721/chinas-rigid-college-entrance-exam-failing-tests-equality?utm_source=rss_feed Tue, 29 Aug 2017 04:45:31 +0000 There are two growing concerns about artificial intelligence, or AI. One is that the application of AI will lead to mass unemployment, and the other concern is that the technology will lead to a serious deterioration in wealth distribution. In my view, both concerns are unnecessary. The great majority of service jobs are nowhere near replaceable by technology. AlphaGo can beat the best human chess player, but a human hand is needed to place the “stones” on the Go board. It will take at least... https://www.scmp.com/news/china/society/article/2100590/why-robots-wont-be-stealing-your-job-or-leaving-you-bankrupt?utm_source=rss_feed https://www.scmp.com/news/china/society/article/2100590/why-robots-wont-be-stealing-your-job-or-leaving-you-bankrupt?utm_source=rss_feed Sat, 01 Jul 2017 12:33:45 +0000