Word: huang
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Dates: during 2000-2009
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...small and medium-sized firms collapsed; from January to March this year, exports fell by 19.7%, putting more pressure on the survivors. "The crisis hits China's private sector really hard because China's private sector accounts for a larger share of China's manufactured exports," says Yasheng Huang, an MIT professor who wrote about the rising power of SOEs in his 2008 book [Capitalism with Chinese Characteristics]. "So essentially you have a private sector whose main source of customers has just disappeared...
...Because SOE revenues depend less on internal and external demand and more on government spending, Huang says, "the state sector can simply produce without regard to market demand whereas the private sector cannot. This is why in a situation like this when the market demand has just collapsed the only one that is left standing is the state sector...
...Huang says the trend is worrisome, partly because it could undo progress made in freeing up China's economy. "In the short run, the numbers may look good ... (but) a year or two from now, if China only relies on the state sector to drive growth, the fundamental distortions in the Chinese economy today will get worse...
...essential in this push for progress. Students who attended the discussion agreed with Fuentes’ statement on the role of art in politics. “I’m an artist myself, concerned with the politics in my own country, Singapore,” said Judith S.Y. Huang ’09. “Fuentes understands the difficulty of this endeavor. He understands the methods of both art and politics. You need art in society to point out what needs to be heard.” Literature, Fuentes said, becomes timeless not from its message, but from...
...entertainment,’” adds Wong. “Diversifying people is great in creating that lesson. Theater is valuable not only in the skills that it teaches, but also in forming relationships with each other.”—Reporting contributed by Crystal Huang...