On Development of China in 30 Years

This topic comes from a lunch talk days ago with a visiting scholar from China and a colleague in our department, who is quite ignored on the Chinese issues. Though under most conditions, the discussions about China that covers the riskiness of the banking system, unfairness of educational resources, the bribery among the official servants and governmental departments, can easily reach a consistent conclusion, this time we are facing dispersion. Such dispersion, however, can mean the ignorance of knowledge on fundamental theories of accounting and finance, the reality of Chinese society, and, of course, so-called ‘face’ that is widely seen in Chinese cultures (面子:笔者注). To avoid some unnecessary troubles, this article only summarizes the viewpoint of mine.... Read More