Qiaofeng Zheng's List: readings

• 另外一些国有企业目前已完全参与到全球竞争中，与数百家面向相同客户的国内外企业展开激烈的商业较量
• 其他类型的企业近年来脱颖而出
• 中国国有企业的首席执行官们与西方企业领导人的差异比较明显
• 典型的国有企业老总的职业生涯通常横跨企业界和政界
• 政企间的相互依存的关系
• 最大化股东价值的同时
• 关注企业的社会和经济目标
• ，较少依赖于严格的分析、市场调查或对客户偏好的详细了解
• 中国企业的首席执行官们
• 很强的直觉决策，习惯于对新的行业趋势和变化做出迅速而灵活的反应，并对通过控制成本来提高竞争力、保持企业持续增长表现出敏锐的兴趣

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• 如何将国内公司与国外公司的管理层整合起来
• 国外矿业、石油和天然气资产的收购热情一直主导着这股收购潮
• 西方利益相关者的反对
• 扭转局势现在仍为时尚早
• 中国国有银行提供的低息贷款
• 生产移至中国大陆
• 工会及其他利益相关者的关系
• 疑虑重重的监管部门
• 市场投放能力方面与国际接轨
• 了解陌生的市场环境
• 品牌、供应链
• 如何整合被购公司管理层
• 价值都体现在中国的成本优势与西方公司的品牌、技术和其他资产的结合
• 我们估计，实际对外直接投资比官方数字高出两到三倍
• 因此，即使中国还不是全球企业资产市场的一支大军，至少也算一支重要新军
• 复合增长率 (CAGR) 达到了66%
• 许多因素推动着中国企业的海外扩张
• 他们大多表示需要获取原材料、技术和设计能力、争取新客户和新品牌
• 整合的挑战
• 有三个阶段
• 被收购方的管理人员可能太拘泥于旧的条条框框，无法促进所需的业务转型，而新任的中方管理者又往往缺乏必要的国际经营经验
• 对管理层的管理
• 充分利用被收购公司的员工期望变革的这个有利时机，迅速而坚决地采取行动
• 必须鼓励交流
• 全球投资者的机会

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• The steps include:

• selective, mainly private
• supervise and liberalize international trade
• commenced on 1 January 1995
• 1947 General Agreement on Tariffs and Trade (GATT).
• Marrakesh Agreement
• framework for negotiating and formalising trade agreements
• dispute resolution process
• representatives of member governments and ratified by their parliaments
• Uruguay Round (1986-1994)
• 2001 to enhance equitable participation of poorer countries
• Doha Development Agenda
• agricultural bulk commodities
• large numbers of subsistence farmers
• 153 members
• a general council
• governed by a ministerial conference
• director-general,
• headquarters is at the Centre William Rappard, Geneva, Switzerland
• review the national trade policies
• center of economic research and analysis
• through technical cooperation and training
• WTO cooperates closely with
• the most favoured nation (MFN) rule
• national treatment policy.
• improve predictability and stability
• one country, one vote system
• actual votes have never been taken
• relative market size
• consensus decision-making
• Main disadvantages include
• informal negotiations between small groups of countries
• Mini-Ministerials
• law-based initial bargaining
• power-based bargaining
• (DSU)
• central pillar of
• five years, on average
• promote free trade and stimulate economic growth
• divergence instead of convergence of income levels
• systematic bias
• anti-dumping measures have increased;
• domestic support and export subsidies
• labor relations and environment
• imposing their unrelated agendas on trade agreements
• complicated, ineffective, unrepresentative and non-inclusive,
• bureaucratic and anti-capitalistic organization not promotimg free trade, but political interventionism

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• began in July 2007
• loss of confidence
• stock markets worldwide crashed and entered a period of high volatility
• a considerable number of banks, mortgage lenders and insurance companies failed
• financial system was vulnerable
• America's housing collapse
• intricate and highly-leveraged financial contracts and operations,
• monetary policy
• real estate, banking and credit
• a wide range of financial and economic activities and institutions
• insurance contracts and pension funds
• currency volatility,
• Devaluation of some currencies
• financial/banking system
• dramatic contraction in money supply
• after a dramatic expansion in debt and money supply
• separating the advising from the lending role of financial institutions
• extremely indebted US economy
• the failure of ratings agencies
• a number of European bank failures
• large reductions in the market value of equities^[20] and commodities
• eclines in various stock indexes
• de-leveraging of financial institutions
• liquidity crisis
• . Treasury yield is one tool of monetary policy.
• US Treasury Bill or Bond interest rates
• time to maturity on the horizontal axis
• A commodity bubble was created following the collapse in the housing bubble
• price of oil
• Fannie Mae and Freddie Mac
• Clinton Administration pushed for sub-prime lending
• expand mortgage loans among low and moderate income people
• government-subsidized corporation
• weakened regulation of government sponsored enterprises Fannie Mae and Freddie Mac
• Other deregulation efforts
• proliferation of the complex and opaque financial instruments
• misapplication of risk controls for bad debts
• miscalculation by banks and investors of the level of risk
• taking advantage of low interest rates
• systemic crisis of capitalism itself
• decrease in GDP growth rates since the early 1970s is due to increasing market saturation
• The housing bubble^[41] grew up alongside the stock bubble of the mid-1990s
• savings rate out of disposable income falling
• spending based on this increased wealth
• consumption boom of the late 1990s
• buy bigger and/or better homes
• dramatic increase in house prices
• turned to investments in housing as a safe alternative
• Federal Reserve Board to continue to cut interest rates
• slow in recovering from the 2001 recession
• adjustable rate mortgages
• as the building boom led to so much over-supply that prices could no longer be supported
• more homeowners face foreclosure

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• 当人们拥有权力时，他们或多或少会忽略那些权力不如他们大的人的需求和行动
• 当人们关注老板，并担心老板在做什么的时候，他们往往会做最坏的假设。这样，细小而微不足道的信号就会被放大
• “老板今天又是‘有趣鞋子’的一天
• 这个诀窍就是：预测、理解、控制和同情。
• 他的下属非常紧张
• 我承诺，90天之内不会出现裁员和减薪
• 经历了好几轮的裁员
• 最好的员工就会开始离开，而留下的人工作也不会那么卖力了，还会出现精神健康方面的问题。
• 尽管公司基本上无望了，但最高管理团队的成员一个也没有离开，他们都对他非常忠诚
• 如果他们认为裁员是公平的
• 如果留下来的人得到良好的对待
• 预测、理解、控制和同情的各个方面，大多会对整个系统产生影响

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• 大量外来人口涌入城市，导致城市的无序膨胀、耕地流失和对能源及自然资源的需求螺旋式上升，也给提供社会服务带来更多挑战
• 6亿，但这仅占全国人口的45%
• 城市人口还将增加3.25亿人
• 2.3亿外来人口
• 对水的需求
• 能源的需求
• 医疗和教育
• 超大城市型
• 四种不同模式
• 中心辐射型
• 分布式增长型
• 小城镇主导型
• 从GDP 增长和城市系统的总体效率来看，集中式增长方案（“超大城市型”和“中心辐射型”）将取得最大收益
• 更严重的拥堵和区域性缺水
• 最大限度地减少耕地流失
• 通过并入邻近土地和这些土地上的居民人口来进行扩张
• 1990～2007
• 地方政府有偿征用新并入的农田，然后再以更高的价格出售以用于开发，以这种方式来筹集资金，用于改善基础设施、增加服务和支付其他与增长有关的支出
• 今后的20年，人口迁移将起到更大的作用
• 70%左右
• 扩张空间已经用完
• 担心耕地流失太多、土地投机导致通胀和社会矛盾可能会继续不断
• 城市的预算将面临极大压力
• 几乎是两手空空地来到城市
• 提供更多福利的压力，特别是医疗和教育
• 未来将是一个分散的城市化格局
• 城市化的影响
• 集中化的好处
• 城市化模式，环境问题会变得更复杂
• 中国最大城市执行废水处理措施的严格程度有所提高
• 加剧中国的供水问题
• 交通量也可能
• 。事实上，中央政策制定者可使用许多手段来将中国的城市化趋势从目前的分散化转变为集中化
• 另一个切实的措施是取消地方法院对此类事宜的管辖权
• 重新设计激励制度
• 帮助中国以更高效的方式

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