Tag Archives: China

E-Currency Trading in China – Addendum

According to the self-reported volumes, today huobi.com reported a volume of 186,000 bitcoins traded – close to 1 billion RMB. #2 worldwide was OKCoin with about 46,000. While impossible to verify, given the actual market liquidity and rapid movement, there … Continue reading

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Why Street Vendors Matter

Street vendors are part of the fabric of Chinese life, and there is no indication that this is going to change. For consumers, they substantially enhance quality of life. For the street vendors themselves, it represents both their livelihood and independence. Easy access to self-employment (in the sense of a 个体户), i.e. the ability to freely sell, trade and provide one’s services, is a basic prerequisite for a functioning free market. Continue reading

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What Makes A Government Legitimate?

Eric X. Li asks: What makes a government legitimate? “93% of China’s generation-Y are optimistic about their country’s future! If this is not legitimacy, I’m not sure what is.” In fact, according to the Pew poll, Chinese have more confidence in their leaders and future than any other country surveyed. Continue reading

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Property & Registration in Today’s China – Strange Stuff

Whereas prior to approximately 2000 registration was linked to mere occupancy rights, now it is linked to ownership. Without ownership, no registration. And without registration, you don’t get the various prized state goodies on offer. In particular, your children don’t enjoy the right to attend the local public schools. Continue reading

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Outsourcing in the Chinese Restaurant Industry

It is hardly a secret that division of labor and specialization are important keys to economic efficiency. The Chinese restaurant industry must surely count as a world leader in this regard. These days the vast majority of restaurants outsource a substantial portion of their dishwashing to third party companies. Continue reading

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China’s New Silver Bank – ICBC

Bank in Chinese is 银行 – literally “silver merchant”. Alas, like so most countries around the world, China has not had a real “silver merchant” for half a century. With their paper gold accounts, Hong Kong’s banks have arguably come close. But no silver.

That has now changed. Continue reading

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Inflation Jiujitsu in Shanghai

Rare it is to admit – but I am coming to realize that inflationary pressures can have their bright sides. Continue reading

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