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Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
International and Area Studies
Singapore Management University
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Full-Text Articles in Social and Behavioral Sciences
China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow
China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow
Research Collection School Of Economics
The yuan is becoming more widely used in pricing and settling intra-regional trade and investment. Asian currencies' movements are likely to shift more in tandem with the yuan, leading to it becoming one of Asia's lead currencies. Singapore is now the world's second-most- important offshore yuan trading hub after Hong Kong.
Reputation Building Through Failure, Huan Wang, Yi Zhang
Reputation Building Through Failure, Huan Wang, Yi Zhang
Research Collection School Of Economics
In China, many entrepreneurs receive strong supports each time their business fails. This contradicts existing literature and differs from rare revival elsewhere. The major explanation lies in China’s unfriendly and unstable policy environments, due to which business failure per se cannot discern competence. Therefore, entrepreneurs failing because of policy shocks have the incentive for extra efforts to build reputation of competence and trustworthiness. This mechanism prepares a pool of seasoned entrepreneurs who can help alleviate damages of not only policy shocks, but also such system shocks as business cycle and sector upgrading, and therefore makes the economy more adaptable.