china s high saving rate myth and reality

... Chinese saving rate and highlights some of its most salient stylised facts 2.1 Data and measurement issues To lay a sound basis for discussion, we first clarify some of the confusions associated ... Corporate and household saving: before and after adjustment As a percentage of GDP Corporate saving Household saving 30 Corporate savings Adjusted corporate savings 30 Household savings Adjusted ... industrial sales and assets doubled in the 200 0s This questions the theory that the Chinese corporate earnings are mainly inflated by distortions and subsidies Graph Profits, sales and assets of...

Ngày tải lên: 15/03/2014, 10:20

... These accounts also provide estimates of holding gains and losses for assets such as real estate and corporate equities, including assets held indirectly through mutual funds, pension funds, and ... display high saving rates used to cumulate savings that go to finance negative saving rates (dis -saving) after retirement As a result, as the overall population ages, the aggregate saving rate is likely ... 199 0s A second argument stresses that personal (household) savings cannot simply be assigned the role of the main, dominant component of private gross saving; (nonfinancial) businesses also can and...

Ngày tải lên: 16/02/2014, 11:20

... concern This study is designed to clarify the present shape of energy-related and environmental problems lurking behind China s high growth, and then to assess what self-help domestic efforts and international ... expanding at the fast rate of 3,436 km2 a year In addition, arable lands are decreasing by 300 to 600 thousand hectares yearly and deterioration of soils is advancing Natural grasslands are also ... water resources available in China, water shortages in the northern areas are worsening If this phenomenon interacts with advancing desertification, disappearing arable lands and grasslands, degeneration...

Ngày tải lên: 31/03/2014, 05:21

... items covered by federal WEQ standards or establish local standards for items not covered.84 The development of these standards is similar to the standards in the United States The EPA sets treatment ... governments may create local standards for items not covered by the WEQ standards and must report their standards to the State Council.80 Using the WEQ standards and the country s economic and technological ... Discharge Permit Systems.51 Under these different systems, permits have been issued in increasing numbers In 1996, over forty thousand permits were issued in the cities that implemented a system.52...

Ngày tải lên: 18/02/2014, 04:20

... blemished, diseased and irregular produce of low consumer and food processor acceptability and creation of reservoirs of pests and diseases.’ Professor Hillman, SCRI, 1999.15 This institute is largely ... nitrogen fertilisers This increases the susceptibility of crops to pest and disease attack.16 Preventing the need for pesticides Organic farming systems use a variety of natural processes to enhance ... Medicines Directorate Website (www.vmd.gov.uk), 2001 17 18 Soil Association, Standard 5.912, Standards for Organic Food and Farming, Bristol, 2000 19 Soil Association, Standard 5.903, Standards for...

Ngày tải lên: 05/03/2014, 20:20

... chemotherapy Conclusion This small subset study gives low values for cardiac and lung normal tissue doses using the MammoSite applicator using both standard measuring parameters and biologically ... defect is associated with later myocardial morbidity An elevated body mass index (BMI) is also associated with increased LV perfusion defects, possibly because these patients have significantly higher ... catheter is simulated within a seroma cavity on an EBRT CT planning scan, treatment volumes and thus normal tissue dosimetry may be underestimated because the MammoSite balloon causes tissue displacement...

Ngày tải lên: 09/08/2014, 09:22

... level (such as controllers modules, generators, fasteners, e.t.c) and the process knowledge (such as manufacturing processes, assembly processes and servicing processes) Countries that lack such ... present study, research focus is to show how China s FDI in a first industry influences a further new industry, such as Semiconductor industry has supported the next wave of industries such as Solar ... Summary In light of a conspicuous strength in China s solar and wind industry in recent years this dissertation analyses an institutional source of its strength Empirical analysis was conducted...

Ngày tải lên: 08/09/2015, 22:11

... and supervision How are banks doing? Suggestions for future steps Restricted Why all care for China s financial reform?  China s outstanding growth performance justifies optimism  And yet, such ... the costs • Distribution of costs not very transparent Restricted a Restructuring (con’t)  Even larger disposal of bad assets: NPLs transferred to Asset Management Companies (AMC): – In first wave, ... As s tandards • lig htly le s s than 10% o f to tal as s e ts are NPLs ) S 12 Restricted How are banks doing? (cont’)  Efficiency slightly lower than international standards but not a big issue...

Ngày tải lên: 26/10/2013, 16:15

... Chinese household savings as well as corporate savings As a result, China s gross savings as a percentage of GDP has steadily risen, reaching 53.0% in 2008 (compared to a U .S rate of 9.0%), and is ... the highest savings rates in the world.8 The large level of savings has enabled China to boost domestic investment In fact, its gross domestic savings levels far exceed its domestic investment ... reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles Congressional Research Service 24 China s Economic Rise: History, Trends, Challenges, and Implications...

Ngày tải lên: 20/02/2014, 20:20

... disparate sources, such as short articles in trade journals, and undergraduate student dissertations or research papers (for examples of these, see Nguyen Tran Phuc 2009b) Reconciling and synthesizing ... local transactions Local transactions only Indonesia Both cross-border and local transactions Local transactions only Malaysia Both cross-border and local transactions Local transactions only Philippines ... with such excess demand for foreign currency has been the use of what might be described as ‘moral suasion’ or ‘talking up the VND’ Senior officials would at times issue statements to reassure...

Ngày tải lên: 07/03/2014, 18:20

... focused on a subset of three of the initial ten firms This was based on a series of ten group interviews with between three and seven male and female professional scientists and technologists sitting ... leisure activities She shows that these employees meet frequently not only at trade shows, industry conferences, seminars, talks, and other social activities organised by local business organisations, ... as specific skills (Maskell and Malmberg, 1999) Our results suggest that gender divisions impact on this processes in two key ways First, based on an analysis of employee career trajectories (controlling...

Ngày tải lên: 08/03/2014, 06:20

... Arrest and Access to Services China s Public Security system deploys some 17,000 policemen in anti-drug squads.26 In 2004, the authorities took into custody at least 273,000 drug users IDUs say ... Users in High Risk Countries: An Assessment of the Evidence,” National Academies Press, 2006 31 Sun Junyi, Wen Aiyu and Shen Hulili “Analysis of 272 cases of swallowing foreign body in compulsory ... the costs of incarceration RTL centers segregate detainees by sex and in some cases separate drug users from individuals sentenced for other administrative offenses Sixteen of the 19 IDUs interviewed...

Ngày tải lên: 14/03/2014, 23:20

... action and adventure films set in the British Empire as well as the American west As Victor McLaglen s film career shows, viewers not just respond to the images, reviews, advertisements, merchandise, ... cricket clubs and Sunday afternoon tea parties, employing nannies and butlers, and displaying a highly developed sense of superiority toward the manners and customs of their American cousins The centre ... composers, costume designers, editors, producers, cinematographers, scriptwriters, all help to shape understanding of a film and its social context by both audiences at the time and later historical...

Ngày tải lên: 16/03/2014, 17:20

... that serves both sovereign wishes as well as those of the market But this is not a book only about China s triumphs The good-news story also comes with a dark side What CDB has wrought also has ... only: parks, hospitals, and schools.8 Since the assets generated no money themselves, local governments could provide subsidies to “beautify” the balance sheet, and companies could count it as profit ... affairs, and policy affecting investors and business people Titles are written by wellknown practitioners, BLOOMBERG NEWS® reporters and columnists, and other leading authorities and journalists...

Ngày tải lên: 16/03/2014, 21:32

... canopies in warm and humid climates Also the current N status and N process rates are unknown for forest ecosystems in these regions (Chen and Mulder, 2007a, b) In temperate forests the response ... Liu, G S. , Jiang, N H., and Zhang, L D.: Soil physical and chemical analysis and description of soil profiles, Standards Press of China, Beijing, 1996 Lohse, A L and Matson, P.: Consequences of ... species has changed plant composition in the mixed forest (main species were Pinus massoniana, Schima superba, and Castanopsis chinensis), while the pine forest is dominated by Pinus massoniana...

Ngày tải lên: 23/03/2014, 00:20

... discussed the current stand, relative status in the world, patterns and trends, problems and potentials, as well as the transformation toward a market system, in this industry As the Chinese ... products On the other hand, the demand for imports is not sensitive to domestic price, indicating that domestically made products may not be used as substitutes for imports This is not surprising since ... distinctive that, as economic transition progresses, the Chinese economy is becoming an increasingly market-oriented system This is the cause of the increasing sensitiveness of demand for paper and paperboard...

Ngày tải lên: 24/03/2014, 05:20

... effectiveness of the pollution levy in reducing environmental effluents Our first set of regressions addresses this objective and it also provides estimates (instruments) for the endogenous inputs to ... equation fits are satisfactory and most coefficients satisfy expectations We examined these regressions (and the two regressions for predicting endogenous factors of production) for heteroskedasticity ... technologies and increasing recovery and re-use of some environmental wastes The general statistical insignificance of the price terms leaves us uncertain about the assessment of these factors Time has...

Ngày tải lên: 24/03/2014, 05:20

... economy and a lower share of exports, savings, and investment The challenge will be to support these growth and structural transitions while avoiding sudden slowdowns and possible crises China s external ... economies in coastal provinces, encouraged mobility of factors and goods across provinces and with the rest of the world, and established a high savings- and investment-led growth process disciplined ... mind, and solicited opinions and suggestions from experts inside and outside China to push the discussions forward Hours of debate helped in converging viewpoints and developing a common understanding...

Ngày tải lên: 29/03/2014, 07:20

... economic issues such as competitiveness and debt dynamics These issues, and the implications of the ECB s interest rate decisions, were explained with regards to the multiple crises affecting ... is also mention of potential gains such as “reduced transactions costs” that may have offset some of those issues) 55 This slow growth may be the reason why the Taylor recommended rate falls ... interest rate decisions, the rates are laid out on a continuous timeline for comparison and stress levels are also calculated at each ECB decision date as per the ECB website This paper draws on...

Ngày tải lên: 29/03/2014, 13:20