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China’s Housing Market: The Iron Bubble

ArticleJuly 31, 2017

China’s property market was virtually non-existent 25 years ago, but it is now one of the most critical pillars in this country and the source of incredible wealth for many of China’s citizens. Last year property prices in China’s tier one cities made another gravity-defying leap last year. By September, new home prices had jumped 27.8% in Beijing, 32.7% in Shanghai and a meteoric 34.1% in Shenzhen year-on-year. The health of this pillar remains a top concern of the government and citizens alike. But is there a looming crisis? In the near term, the answer seems to be no.

Navigating FDI in China as the Economy Slows

ArticleMay 16, 2017

Foreign direct investment has played a vital role in China’s development since reform and opening up, but times are changing.

The Key Features of Chinese M&A in 2017

ArticleMay 10, 2017

Chinese companies have been on a buying spree around the globe over the past two years. 2016 witnessed a record level of Chinese outbound mergers and acquisitions (M&A) activity, with 932 deals worth over $220 billion taking place, an increase of 246% compared to 2015, according to PwC China. However, the surge in outbound investments has brought concerns from both Chinese authorities and recipient countries; the latter are becoming more cautious regarding the presence of Chinese capital in large-scale deals in key industries. Affected by such concerns and tighter government scrutiny, the number of M&A deals might not be as numerous in 2017 as in 2016, but the trend will not stop.

Can the RCEP Trump the TPP?

ArticleMay 3, 2017

Fulfilling his campaign promise, US President Donald Trump took the United States out of the Trans-Pacific Partnership (TPP). With that failure, the spotlight has now fallen on the Regional Comprehensive Economic Partnership (RCEP), a proposed trade deal among 16 countries in the Asia Pacific region which is widely seen as a Chinese initiative and a way of pushing back against US influence in Asia. However, compared to TCC, the RCEP has a much narrower scope and labor, environment, IP, competition policy, issues screaming for attention will not be significantly discussed. Meanwhile, TPP is not completely down without the US: Strong incentives for the TPP or a “TPP-lite” will remain.

Will China Determine the Future of Bitcoin?

ArticleJanuary 23, 2017

Bitcoin was not invented in China, yet China is where 80% of the virtual "coins" are minted.

The Heat is On for the Chinese Pharmaceutical Industry

ArticleNovember 14, 2016

China’s large and still growing population, accompanied by rising household wealth and rapid increases in healthcare spending, has transformed China into the world’s second-largest pharmaceutical market. In 2015, overall pharmaceutical sales in mainland China totaled more than $115 billion, placing China behind only the United States ($330 billion). With a population of over 1.3 billion, the sheer size of the market all but guarantees that the Chinese market will continue to grow despite the problems faced by the healthcare system. “Healthcare is the one market where the market size equals the population,” says Kent Kedl.

Kobe Bryant Invests in CKGSB Alumna’s Company VIPKID

NewsAugust 25, 2016

VIPKID, CKGSB MBA alumna Cindy Mi’s start-up that aims to help children in China to learn English through teachers in North America, has been backed by Bryant Stibel, which was cofounded by Kobe Bryant & Jeff Stibel. This marks Bryant Stibel’s first ever investment in education, as well as the firm’s second investment in China.

GEL Brings Together Next-Generation Family Business Leaders

NewsAugust 11, 2016

Next-generation scions of Western and Asian family-owned companies learned to meet the challenges of corporate leadership and family business in CKGSB and Cornell University’s joint Global Emerging Leaders in Family Enterprises (GEL) program.

Interview with Robert Tercek on Vaporization, a Software-Defined Society

ArticleAugust 8, 2016

When was the last time you listened to music on an actual CD? Or read the day’s headlines in a physical newspaper? Chances are it has been years. Digital technology has replaced a lot of things in our lives. According to media futurist Robert Tercek, going forward we’ll see more of ‘vaporization’, a term he has coined to refer to the process of replacing physical things with software that can be downloaded to any device. In this interview, Tercek, the former President of Digital Media at The Oprah Winfrey Network and author of the book Vaporized, talks about how software is disrupting society.

Will Fosun Group Become Another Berkshire Hathaway?

ArticleAugust 3, 2016

Fosun Group has grown from a small consulting firm in Shanghai to China's largest private conglomerate.

Uber China Faces a Massive Challenge in the China Market

ArticleJuly 12, 2016

Uber has largely managed to avoid conflict by operating as a separate Chinese subsidiary on the mainland.

CKGSB and Harvard Kennedy School Collaborate to Build “A New Business Civilization”

NewsJuly 11, 2016

Close to 600 senior participants and media attended the CKGSB-HKS 2nd Annual Global Symposium — A New Business Civilization — following on from last year’s inaugural symposium held at Harvard, itself a product of a five-year collaboration between the two schools. Nine academics from universities such as CKGSB, Harvard and Oxford joined more than a dozen speakers from the business community to shed light on sustainable entrepreneurship.

Solving the Prickly Issue of Overcapacity in China

ArticleJune 14, 2016

Having delayed serious structural reforms, China faces eye-watering overcapacity in heavy industries. Steel production volume is more than double that of the next four leading producers combined: Japan, India, the United States and Russia. Aluminum production capacity reached 40 million tons last year, exceeding global consumption by 9 million tons. Most remarkably, between 2011 and 2013 China produced more cement than the US did during the entire 20th century—6.6 gigatons, compared to the US’s 4.5. What can China possibly do about this excess capacity that is weighing on the balance sheets of debt-ridden firms reeling from China’s economic slowdown?

Home Comforts: Relisting on Chinese Stock Exchanges

ArticleJune 13, 2016

Since early 2015, 47 Chinese companies have received combined offers of $43 billion in funding from private equity houses and Chinese internet giants to delist from American exchanges and make a run for the domestic stock markets. So far 14 of them have delisted and none of them have managed to complete the journey and re-emerge on a Chinese exchange. The sudden desire to rush for the exit represents a swift reversal of a quarter-of a-century flow of Chinese companies to the West. It is the result of two factors: poor performance of many Chinese companies on western exchanges, and the much higher valuations that companies can command in China.

WildAid’s Offbeat Approach to Conservation

ArticleMay 30, 2016

“As a father, I want our children to know that rhinos are not just pictures in the book,” says Prince Williams, the Duke of Cambridge, in a campaign video on wildlife protection. Behind this campaign is WildAid, an NGO with the catchy slogan: “When the buying stops, the killing can too.” WildAid’s mission is to end illegal wildlife trade and slow down climate change. It focuses on the end consumer hoping that reducing demand would force the supply side to curtail itself. In this interview WildAid’s Chief Representative for China May Mei explains the significance of the emphasis on demand reduction and WildAid’s successes in China so far.

Apple in China: Can it Retain its Shine?

ArticleApril 25, 2016

Greater China is now Apple’s number two market after North America.

What Does the End of the One-Child Policy Mean for China?

ArticleApril 6, 2016

After 37 long years, China finally abandoned the one-child policy and caught many observers off-guard. The two-child policy, passed by the Chinese legislature in December last year, is according to Chinese authorities, “intended to balance population development and address the challenge of an ageing population”. Their projection that the abolition of the policy would yield a 0.5 percentage point boost in economic growth over the long term, without specifying a time frame, suggests that there were economic motivations behind the end of the one-child policy. But whether it will really deliver a boost in growth for the economy is an open question.

A Progress Report of China’s Third Plenum Reforms

ArticleMarch 15, 2016

China’s longstanding reform program has failed to keep up with the pace of change in this vast nation. The enormous impact on growth of joining the World Trade Organization has now largely played out, and the path towards developed economy status—while avoiding the so-called middle income trap—depends upon careful management of an extensive program of economic reform. In November 2013 at the Third Plenum of the 18th Central Committee, a grand total of 60 reform proposals were outlined, affecting almost every aspect of the economy. Over two years have passed since. We take stock of just how much progress been made.

Consumer-centric Marketing Can Boost Profit, ROI

NewsFebruary 1, 2016

Sun Baohong, the Dean’s Distinguished Chair Professor of Marketing at CKGSB, and Carnegie Mellon University business and computer science professor R. Ravi outlined at a CKGSB Knowledge Series event a consumer-centric marketing framework that they said would bump up profit growth and return on investment significantly more than a campaign-centered strategy.

A Shift in Key: China Moves Towards The New Normal

ArticleDecember 15, 2015

The days of double-digit growth in China are long gone now. And as China shifts to a new economic model, the term ‘the New Normal’ is often used to describe this supposedly more sustainable economic growth. The consensus is that the New Normal will usher in a steadier, stronger, more sustainable economy led by consumption and services. But when you break it down to a granular level, what does the term really mean? More importantly, what does the New Normal mean for the level of economic growth being pursued in China? What implications does it have for rebalancing the economy and different industries?

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