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Resolving China's Zombies: Tackling Debt and Raising Productivity
Nonviable “zombie” firms have become a key concern in China. Using novel firm-level industrial survey data, this paper illustrates the central role of zombies and their strong linkages with stateowned enterprises (SOEs) in contributing to debt vulnerabilities and low productivity. As a group, zombie firms and SOEs account for an outsized share of corporate debt, contribute to much of the rise in debt, and face weak fundamentals. Empirical results also show that resolving these weak firms can generate significant gains of 0.7–1.2 percentage points in long-term growth per year. These results also shed light on the ongoing government strategy to tackle these issues by evaluating the effects of different restructuring options. In particular, deleveraging, reducing government subsidies, as well as operational restructuring through divestment and reducing redundancy have significant benefits in restoring corporate performance for zombie firms.
The Lord of Darkness
Thirteen years ago, a star named Demon fell into the earth. It means Nirvana, or recovery?The starry sky is dim and everything is withered. With mist at dusk permeating once again, a mysterious world revealed...
Integrative approach to Parkinson’s disease
This eBook is a collection of articles from a Frontiers Research Topic. Frontiers Research Topics are very popular trademarks of the Frontiers Journals Series: they are collections of at least ten articles, all centered on a particular subject. With their unique mix of varied contributions from Original Research to Review Articles, Frontiers Research Topics unify the most influential researchers, the latest key findings and historical advances in a hot research area! Find out more on how to host your own Frontiers Research Topic or contribute to one as an author by contacting the Frontiers Editorial Office: frontiersin.org/about/contact.
NeuroPhytomedicine
Neurological disorders categorized as neurodegenerative, neuropsychiatric, and neurotraumatic impose a substantial health burden and cause a frail impact on life attributes. The use of synthetic drugs can have undesirable side effects, making neurotherapeutics challenging. Research on neuroprotection aiming for the utilization of safer natural compounds; phytochemicals specifically – is a cutting-edge approach. NeuroPhytomedicine intends to present readers with a wide-ranging and state-of-the-art appearance at the beneficial properties of phytochemicals on various neurological ailments. It additionally contains sections explaining: • Applications of phyto-nanotechnology in neurological ailments, • Phytoconstituents related deep learning and machine learning-based solutions for neurological disorders, • Epigenetic relevance pertaining to modulation by phytochemicals. The goal of NeuroPhytomedicine is to give readers a thorough and up-to-date look at how phytochemicals affect the brain and neurological illnesses in a way that is helpful for research scholars, academicians, scientists, neuroscientists, physicians, and researchers from the pharmaceutical industry.
A Critical History of New Music in China
By the end of the nineteenth century, Chinese culture had fallen into a stasis, and intellectuals began to go abroad for new ideas. What emerged was an exciting musical genre that C. C. Liu terms "new music." With no direct ties to traditional Chinese music, "new music" reflects the compositional techniques and musical idioms of eighteenth- and nineteenth-century European styles. Liu traces the genesis and development of "new music" throughout the twentieth century, deftly examining the social and political forces that shaped "new music" and its uses by political activists and the government.
Keep Reforming: China’s Strategic Economic Transformation
This book is about China’s economy transformation. Currently, China’s macro-leverage ratio has been effectively controlled, the central market interest rate (one year fixed interest rate) has gone down, and liquidity is now relatively abundant. However, financial institutions are generally reluctant to lend, the local governments are unwilling to act, and the fact that liquidity released by the central bank cannot be effectively transmitted to the real economy is leading to a contraction of credit and higher financing costs for private enterprises. Meanwhile, the downturn in the internal economic cycle has been exacerbated by the external shocks caused by frictions in Sino-US trade, and ...
Where FDI Goes in Decentralized Authoritarian Countries
Among all the decentralized authoritarian countries, China is distinctive not only because of its emergence as one of the largest foreign direct investment (FDI) recipient countries with one of the highest levels of fiscal decentralization, but also because of the combination of its fiscal decentralization and the cadre promotion system as incentive institutions for attracting FDI inflows. China is an important case to empirically investigate the impact of fiscal autonomy on adversarial investment because it has become the largest investment destination of its long-term adversary, Taiwan, with Taiwanese FDI being among the largest FDI in mainland China. Given the special role played by local...
Economic Policy of the People's Republic of China
This book deals with the current economic policy of the People's Republic of China. In addition to a brief overview of economic history since its founding and discussions of economic models, an overview of both the forms of business and the Chinese labor market is provided. The book pays particular attention to the development of China's e-commerce sector. Equally significant are China's environmental issues against the backdrop of the climate crisis. Without innovations, for example in energy production and waste management, the Chinese economy will hardly be able to continue growing. Therefore, one focus of the book is on economic policy in the environmental sector. Finally, foreign policy, including the Silk Road Initiative, is examined. The aim of this book is to highlight the above developments. It is aimed at laypersons involved in the business of China as well as first-year students who want an overview of economic policy institutions and current developments.
