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Real economy VS. Virtual Economy

Monday,Jan 16, 2017

From:CGTN

【VIDEO WATCHING】

In China, there is a big debate going on about the real economy and the virtual economy. Some say the real economy is shrinking because of the expansion of the digital economy, and even ask for more supervision of online operations by the government; those in the virtual economy argue that the lack of innovation and reform is what’s hurting the real economy. China’s Primer Li Keqiang has said, these economies need to be combined to promote the economic development in China, but high costs in the real economy remain an issue. Finding the way to get the balance right is an ongoing challenge.

And now, topics such as the upgrade of industry and technology, the attraction of virtual economy, the combination of the real and the virtual economy, the modernization of the real economy, and the difficulties faced by the real economy have become hot issues. Mr. Wang Huiyao, the President of the Center for China and Globalization (CCG), Robert Koepp, the Director of The Economist Corporate Network and Li Yong, the senior fellow of China Association of International Trade, joined the dialogue and discussed the above issues.

From CGTN, January 2017

 

 

  • Think tank launches books on Chinese firms, migration

    “China Goes Global,” co-written by Dr. Wang Huiyao and Dr. Miao Lu, describes how China’s outward foreign direct investments are related to the country’s enterprises. They compare China’s FDI stock to western developed countries and draw attention to Chinese reforms and government entities that have “cleared the way for Chinese companies and individuals to go global.” The book contains surveys and data to progress understanding of the current state of the globalization of Chinese enterprises.

  • Trump’s immigration policy may boost China’s global talent pool

    “Trump’s Muslim ban has confirmed his attitude [toward immigrants], which has been received with great angst by the international community. The policy has caused a disturbance among immigrants in U.S., but it will be a good opportunity for China,” said Wang Huiyao, president of CCG.

  • Real economy VS. Virtual Economy

    In China, there is a big debate going on about the real economy and the virtual economy. Some say the real economy is shrinking because of the expansion of the digital economy, and even ask for more supervision of online operations by the government; those in the virtual economy argue that the lack of innovation and reform is what’s hurting the real economy. China’s Primer Li Keqiang has said, these economies need to be combined to promote the economic development in China, but high costs in the real economy remain an issue. Finding the way to get the balance right is an ongoing challenge.

  • China Says Trump Open to Cooperating on Silk Road Projects

    President Donald Trump told China’s State Councilor Yang Jiechi in a meeting that the U.S. is willing to cooperate with Beijing on projects related to its Belt and Road infrastructure initiative, according to a statement from China’s foreign ministry.

  • Backlash Against Chinese Products Ramps Up in India

    China has a different perspective on the trade relationship. The two nations could benefit from collaborating more, not less, said Wang Huiyao, director of the Beijing-based think tank Center for China and Globalization (CCG) .