EVENTS
Event Highlights
Book Talk on “Can Regulations Revive China’s Sagging Economy?”
2024-05-21
The book talk on “Can Regulations Revive China’s Sagging Economy?” organized by Maritime Silk Road Society was held on 21 May. Prof Angela Zhang, Associate Professor of Law of University of Hong Kong and Director of Philip K. H. Wong Center for Chinese Law, introduced her new book “High Wire: How China Regulates Big Tech and Governs Its Economy”.
Prof Zhang started with the “Dynamic Pyramid Model” she created, which is inspired by the Chinese regulatory system that sees our world as a very complex system. She explained the three main features of the system: “hierarchy” which is the Chinese regulatory structure, “volatility” which is the vicious cycle of the Chinese market chaos and regulations, and “fragility” measured with two dimensions – “side effects” and “information lags”.
Professor Zhang used China's tech crackdown between 2020-2022 as a detailed case study to illustrate the application of the proposed model, shedding light on the dynamics at play in the regulatory landscape.
Prof Zhang drew the conclusion with a vicious cycle of the tightening of regulatory enforcements causes increased volatility and fragility of enterprises due to the lack of check and balances and inefficient information transmission by the government. She believes that only through relaxing the hierarchy can there be a recovery of the economy.
Prof Angela Huyue Zhang’s new book: https://global.oup.com/academic/product/high-wire-9780197682258?cc=um&lang=en&
_300x225.jpg)
_300x225.jpg)
