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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.
When Housing Markets Meet Shadow Banking: Bubbles, Mortgages, Securitization, And Fintech
This book contends that the housing markets and shadow banking have been involved in a kind of 'dance' over the last two decades. It traces this dance to be between the roles of mortgage markets since the 1980s in both the US and China and the developments of securitization and 'shadow banks.' It gives side-by-side comparisons between the two and suggests that house price dynamics have been similar, but also quite different. Both had booms. The US had a bubble that burst around 2007 — after prices became quite high relative to rents and then crashed. However, Chinese housing markets, which had a similar run-up, did not have a burst bubble. Rather, the rising property values appear to have ...
Fiscal Monitor, April 2021
The April 2021 edition of the Fiscal Monitor focuses on tailoring fiscal responses to the COVID-19 pandemic and adopting policies to reduce inequality and gaps
Where FDI Goes in Decentralized Authoritarian Countries
Explores the conditional effect of fiscal decentralization on FDI inflows at county level in China and explores whether FDI sourced from adversarial states is more dependent upon local government fiscal autonomy than those sourced from the non-adversarial states
Language Ideology and Order in Rising China
This text considers contemporary China’s language ideology and how it supports China as a rising global power player. It examines the materialization of this ideology as China’s language order unfolds on two front, promoting Putonghua domestically and globally, alongside its economic growth and military expansion. Within the conceptual framework of language ideology and language order and using PRC policy documents, education annals, and fieldwork, this book explores how China’s language ideology is related to its growing global power as well as its domestic and global outreaches. It also addresses how this ideology has been materialized as a language order in terms of institutional development and support, and what impact these choices are having on China and the world. Focusing on the relationship between language ideology and language order, the book highlights a closer and coherent linguistic association between China’s domestic drive and global outreach since the turn of the century.
