China’s Labor Market on Crossroad

I.IntroductionSincethelate1990s,China’slabor market has comeundergreat pressure,asreflected by anincreasing unemployment rate,and adeclining labor force participation rate.The causesofthe severe unemployment are threefold.First,due to the macro-economic downturn andrapid industrial structural change in the late1990s,state-owned enterprises(SOEs),whichlost their comparative advantage and competitiveness,have been unable to fully utilizetheir production capacity,and have become loss-makers.Se…     

Should Chinese Local Governments Be Allowed to Issue Bonds?

I.IntroductionDespite China’s impressive economic growth,its fiscal sustainability has increasinglybecome one of the most watched risk indicators facing the economy.Although China’sexplicit national debtto GDP ratio israther manageable by theOECD standard,at about20 percent of GDP,given its small share of tax revenue to GDP,currently at18.5percent ofGDP,this fiscalsystem may stumble upon major challenges in themedium to long term ifChina’slargecontingent fiscal liabilitiesare als…     

马上男儿的选股秘诀

郝特韦经常练习一种特殊的双人骑马运动,这需要他和他的骏马,以及另一个人---通常情况下是他的儿子马克斯---共同练习。在这项比赛中,两名参赛者需要轮流骑马竞速。对于他投资的股票,62岁的郝特韦喜欢这样打趣:“有些在飞驰,有些还在小跑。”可是,就是这样的投资组合近10年来为郝特韦基金带来了年均16.2%的高收益率,比标准普尔500指数高出整整4.7个百分点。他评估股票的主要方法便是自由现金流法。经营性现金流减去资本支出,所剩下的余额就是自由现金。私有公司的老板更关注自由现金而非净利润,因为自由现金能给他们更大的余地,来安排资本用…     

Balancing corporate power: a new Federalist paper

In an effort to govern their increasingly complex organizations, chief executives in some of today's largest corporations are turning to one of the world's oldest political philosophies-federalism. Given that organizations are seen more and more as minisocieties, the prospect of applying political principles to management makes a great deal of sense. Federalism is particularly appropriate because it offers a well-recognized system for dealing with paradoxes of power and control: the need to make things big by keeping them small; to encourage autonomy but within bounds; and to combine variety and shared purpose, individuality and partnership, local and global. As London Business School professor Charles Handy explains it, federalism responds to these paradoxes by balancing power among those in the center of the organization, those in the centers of expertise, and those in the center of the action--the operating businesses. The centers of federal organizations meet regularly, but they do not need to live together. Doing so would concentrate too much power in one place, whereas federalism gets its strength and energy from spreading responsibility across many decision points. Guided by five principles, federalism avoids the risks of autocracy and the overcontrol of a central bureaucracy. It ensures a measure of democracy and creates a "dispersed center" that is more a network than a place. That's why Asea Brown Boveri CEO Percy Barnevik calls his sprawling "multi-domestic" enterprise of 1,100 separate companies and 210,000 employees a federation. It succeeds because the independent bits, be they individuals, clusters, or business units, know they are part of the greater whole.     

Will your Medicare claims stand up?

In the first two installments of our series, we gave you the details of reimbursement under the new Medicare fee schedule, and showed how to code evaluation-and-management services with the revised CPT system.* This issue, we'll tell what to expect from Medicare carriers as they teach and enforce the new payment rules.     

减少汽车业的浪费

汽车制造商和零件供应商可以节省巨大开支，但前提是双方要更为紧密地合作在一起麦肯锡的研究表明，北美汽车业每年在产品开发和组装过程中由于汽车生产商与供应商缺乏良好的计划和协调不当，造成了超过100亿美元的浪费。事实上．这只是较为保守的估算。因为我们的研究仅涵盖了供应商发生的成本，如：附加设计、生产工具最后改型和零件自身的附加成本。这还不包括因设计问题生产商需额外支付的改型费用、生产问题引发的车辆最终成本的增加或质保支出。这几项每年给汽车行业带来的浪费约为120亿美元。     

哈林顿专栏检验、纠正、预防、选择:质量工作者的角色转变

回顾自己40年的质量工作生涯,我认为可以将质量工作大致划分为四个阶段: 检验:20世纪70年代我们关注检验.质量组织致力于防止制造商装运不符合规范的产品.质量工作者是顾客的保护者,几乎会跑去躺在卡车前面,阻止制造商将不合格产品装车后带离码头.质量工作者的基本角色是警察.制造过程中约10%的工作与质量保证性检验相关.这属于质量控制范畴.     

管理者在创新中的角色：“聚会”的组织者——对《创新：缺失的维度》一书的点评

孤独的创造者是浪漫的,但是不切实际。创新是一个社会过程,创新越是成功,这个过程就越具有社会化。然而,在公司内部,创新的社会化、非正规化却经常受到管理者硬性规定的约束。他们强调预算、团队的时间表以及其它的条件来限制乃至取消自由交流思想的各种形式,管理者反对公司未来无法想象的产品拓展。《创新:缺失的维度》一书提出了管理者在创新中的角色:“聚会”的组织者。该书作者是麻省理工学院教授理查德·莱斯特和麦克尔·皮尔瑞。他们把创新的早期阶段描述成一个鸡尾酒会。在这个阶段,不同专业、不同兴趣的人们聚在一起,轻松而又认真地…